Industry News

The Hail Mary

Diary of a real estate rookie
Published on May 18, 2007

I have spent two days running around with a relocating renter and I am tired. Relos are hard, because in the quest to find them the neighborhood that "fits" you end up showing them every single possible area -- usually on foot. We saw the Financial District, we saw Battery Park City, we saw Union Square and Chelsea and Midtown. We saw Greenwich Village, twice, and I waved at Chinatown because there's nothing good there now, but it's where my last renter ended up. So at the end of the day I am pretty ready to sack out when I get a call from Hayley ... the best friend of my very first client. She is losing her great budget sublet in the Village, can I help find another? I have mixed feelings about this. On the one hand, no, I cannot help. NYC vacancy rates are under 1 percent, and Hayley's budget is about 20 percent under market prices. If I knew where great cheap apartments were in one of my favorite sections of New York City, I would be living in one myself. On the oth...

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