Rentals in Chelsea>Question Details

Cindy, Renter in New York, NY

Hi- I'm looking for a place to rent within a 5 block radius of Penn Station. I'm on a pretty tight budget- approx. $1000/mo. Any ideas?

Asked by Cindy, New York, NY Thu Sep 6, 2012

2 votes Share Flag Rentals in Chelsea

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I have some lovely apartments in this area! Please call me today to show them to you! My name is Rhea and I can be reached at 347-500-2479. Thank you and good luck.
1 vote Thank Flag Link Thu Sep 6, 2012
Consider finding a roommate. You will get more bang for the buck.
0 votes Thank Flag Link Thu Oct 24, 2013
It's been a year, how about you limit your answers to RECENT postings?
0 votes Thank Flag Link Tue Aug 20, 2013
Rent today; Buy tomorrow. How to convert from Tenant to Homeowner.

When I rented my first apartment in Astoria, I did not want to be a Tenant my whole life and pay my Landlord’s mortgage. I longed to become a Homeowner.

That’s why I found my way into the mortgage business in 1989 and soon afterward became a Homeowner. Here are the fundamentals any Tenant should know to prepare to become a Homeowner in the future, no matter when that might be.

• Credit: Establish 3 credit accounts, no more than 5. Pay your bills on time. Keep your balances to no more than 50% of your credit limit. Don’t pay off the accounts in full. Keep balances active for 12-24 months. All of the above will provide both a good credit score and adequate credit history to qualify for a mortgage loan.

• Assets: A basic savings budget isn’t hard to do. Pay your rent first in your budget; then set aside 10% of your income before taxes . Make it a budget priority and you’ll still have money left over for entertainment and restaurants and clothing.

How much money do you need to buy a home? Many buyers spend no more than $25,000 to buy their first homes. There are loan programs with low down payment requirements and many real estate agents negotiate for their Buyers a “Seller’s concession” to include the Buyer’s closing costs (which are HIGH here in New York!) in the price of the home.

• Income: Two years consistent income is the basic requirement for either a salaried individual or a self-employed person. Income from Bonus, Commission, and Overtime is treated differently and is best discussed with your Mortgage Banker.

• Market Survey: it doesn’t hurt to go out and get to know neighborhoods where you might like to buy a home. Visit open houses on Saturdays and Sundays. It’s okay that you’re not yet buying; tell the Realtor at the Open House you’re just beginning your “survey.” You’ll also get to know market prices for different kinds of homes. It’s okay to “window shop” homes on the weekend at Open Houses!

I hope these fundamentals will help you better understand the path to homeownership is a process that, with preparation and dedication, you can move through easily. And if you’re interested in getting Prequalified today to create an Action Plan for your future of Homeownership, call me anytime!

Trevor Curran
NMLS #40140

*If you thought my answer was helpful, please give me a “Thumbs Up” or “Best Answer.” Thanks!
0 votes Thank Flag Link Tue Aug 20, 2013
The best option is to get roommates. By combining your incomes you will qualify for a really nice apartment. If you get 2 roomates and each can pay $1000 a month then you will be able to afford a apartment in the Penn Station area
0 votes Thank Flag Link Sat Jan 26, 2013
You may try to relocate your area requirement outside of Manhattan and you maybe able to get your price or you can up your price to stay in Manhattan. Yo can try Upper Manhattan. $1000 won't do not even for a studio, not in Midtown/Downtown Manhattan. Good luck.
0 votes Thank Flag Link Thu Sep 6, 2012
Thanks for the insight Francisca- what is a realistic number for a small studio in this area?
Flag Fri Sep 7, 2012
That is very low, you may need to look for a room in someone's apt. Check out
0 votes Thank Flag Link Thu Sep 6, 2012
Thanks for the insight Leila- what is a realistic number for a small studio in this area?
Flag Fri Sep 7, 2012
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