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Jacobretrick, Home Buyer in 10001

Where to find fixer upper apartments in nyc?

Asked by Jacobretrick, 10001 Mon Oct 25, 2010

I am interested in fixer upper apartments.

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Answers

7
That's a good question, I suggest you search the ny times, trulia, property sharks, street easy and look for buzz words as in "brig your cotractor, needs tender loving care, sold as is"..etc..but at the end of the day I suggest you use an agent. We know the inventory as well as have access to databases that we can easily search. Please doon't make the rookie mistake if you find a fixer upper that needs sixty grand to renovate that you subtract that from the asking prices, regardless if you have an agent or not. The seller will has to pay approx 6% regardless if the buyer has an agent or not, secondly these apartments are usually sold to the max that the seller is willing to sell it for. There's usually little room for negotiations, you can certainly try but keep that in mind. Best of luck, I'd be honored to assit if possible.

Tony Lara
Licensed Real Estate Salesperson
Rutenberg Realty
tlara@crrnyc.com
0 votes Thank Flag Link Sun Mar 6, 2011
Hi Jacob,
There is no single listing source for "fixer upper" apartments in the city, but a detailed search of any neighborhood and/or price range will yield a list of properties that can easily by filtered by renovation (or lack of renovation). You'll want to have a licensed and experienced contractor on hand to advise you on the potential cost of any work. An experienced agent can coordinate the listings search, the contractor access and the bidding and contract negotiation so you get the best possible deal. If you'd like to know more about how I work check out the video I posted at the link below. I'd be glad to help.
0 votes Thank Flag Link Fri Jan 21, 2011
Hello! Apartments that need work can be found throughout New York City. It all depends on your budget and expectations. I specialize in New York City and would love to help you out or email you a couple of options, I just need to know your budget. If you are looking in outer boroughs I would be more than happy to connect you with a right agent either in Brooklyn, Queens, The Bronx or Staten Island since I work with different agent on a daily basis.. Should you have any questions please feel free to email me.

artem.lesin@arvikgroup.com

Artem P. Lesin
0 votes Thank Flag Link Tue Jan 11, 2011
Finding them isn't hard. Finding sellers who are willing to sell them for a realistic price will be the more challenging issue here. I've found lots of opportunities in the Bronx, some in East Village, and a few in Manhattan. More often than not, most of the sellers I've dealt with are trying to hock their wares at 2006 prices. Unfortunately, I've also seen several of them get foreclosed, because the sellers refused to negotiate. Ultimately, those properties ended up selling for the right price anyway.

Please feel free to contact me and to give me a better idea of what you want.
0 votes Thank Flag Link Thu Nov 4, 2010
Hi Jake. I believe the intention here is to find a "real bargain." While you may be able to find some apts that need renovation, you should be aware that prices may not be the "bargain" you hoped for.

You'll most likely find Coops to be the better bargain in general terms as Condo units have a higher price tag. What you may also find is that coops boards may not allow a sale to conclude if they feel it's a lowball price.

Good Luck!
0 votes Thank Flag Link Thu Nov 4, 2010
I know of an apt that needs total renovation on UES prime location near 80's and Park Ave. priced around 800K

the exact same apt that is renovated apt on a lower floor is priced more than 100K more.

if you are interested in the oppertunity, please contact me.

Vincent Zou
vzou@warburgrealty.com
0 votes Thank Flag Link Thu Nov 4, 2010
Apartments that need work can be found everywhere in New York City.

Search for the following terms in advertising: handyman special, needs TLC, estate condition (or just the word estate), original kitchen, original bathroom.

Also, search for the lowest price apartment in a given size.

These properties can be hard to locate, a broker could help you.

Karla Harby
Charles Rutenberg Realty
kharby@crrnyc.com
0 votes Thank Flag Link Tue Oct 26, 2010
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