Virtual showings of NYC Apartments

Necessity is the mother of invention.

Yep. It will really be interesting to see how the coronavirus crisis changes NYC apartment rentals long term.

Right now instead of hunting for keys we are hunting for videos.

It’s a big change.

In the past we would go see listed apartments, sometimes, many times, without seeing pictures first. This is part of the craft of being a NYC real estate agent. You have a hunch, a super gives you a tip, you know your landlords, and then you and the client go see some places. You gauge their reaction, see what they respond well to, adjust, get a cup of coffee, admire the dog park, it’s a process and if a client trusts it, it works.

But now due to the pandemic, we are trading in video. Yes it’s a good tool, but I am not sure it is satisfying. Yes, so many people were willing to take 110 Greene Street from a short video, it was a once in a lifetime deal on a SoHo loft. Yes about 1 out of 10 apartments are rented without people seeing them.

But I find the time spent emailing and clicking is less productive, it’s nice to see a video of an apartment, but it is very different from experiencing it. It also it is my job to read your mind, to figure out what you want BEFORE you do. So many people get here and admit, what they thought they wanted changed when they started viewing.

It is ok, it is expected, you are not ordering a Big Mac and a side of fries, I know you may decide having a place that feels bright and roomy is more important than laundry in unit. Just like a shrink our job is to guide you.

Don’t get me wrong, a video is a great storytelling tool, especially in sales, but it just doesn’t replace the real thing. Cue Marvin Gaye and Tammi Terrell.

If you want to work with Suzanne email sgoldklang@corcoran.com. I promise someday will climb stairs, sip iced coffee, talk about life and see apartments soon.

How will the Coronavirus crisis impact renting an apartment in NYC?

So this is a question I get a lot and of course I have no crystal ball.

Renting an apartment in Manhattan is VERY seasonal.

Busy season typically starts around Easter as students move out of dorms due to graduation or a desire to live off campus. The prices increase, concessions increase as we move through the summer. In August all hell breaks loose, as people start looking for places for September 1, the start of school and new jobs. The first few weeks of September are busy too. Then in October prices drop, concessions are added, by November we start to see deals. December is a mixed bag, low inventory, good discounts, January is similar.

So already we have missed that first wave of students leaving dorms. The short term market is on fire with thousands of health care people looking for temporary housing which is always tricky. There are good deals out there if you are comfortable renting remotely.

I think if NYU and Columbia and the New School start classes on time, we will see the market return to normal in August. I am guessing we will actually see a bump in professionals looking for places when work restrictions end.

There is one thing you can do it is start getting smart about finding and apartment in NYC. Go ahead and start learning about qualifying for an apartment, what documents you will need, what the costs are, whether you will need a guarantor, what fees you are comfortable with, and so forth. Adrianna Darling and I are always happy to help you start planning.

Stay safe and good luck! We are here to serve.

To work with NYC real estate agent Suzanne Goldklang email sgoldklang@corcoran.com.