Yes a co op requires RENT too aka maintainence. At over 1K, that is "thrown" away too. It is huge myth that renting is throwing away money and buying is not. The 130K downpayment can be invested in a low risk portfoloio and bring, let us say, 12K a year. Now with the 1K for Maint. plus the 12K return, you have 2K a month. You also do not have any legal bills or closing costs and flexibility so renting over buying is wiser for many (not all) people.
Cool neighborhood and apartment. Good looking farmers market. Being the child of depression era parents, a mini fridge lost me as did the fees. Yikes!!
Your Depression era parents had a big fridge, or did they long for one to replace their icebox? In the Depression, people canned food they got seasonally in bulk. They didn't freeze it or refrigerate it. That deep closet would make a good pantry for what you have canned.
Wait, I have to pay $700k for a 1 bedroom apt....and then continue to pay $13k/year for "maintenance fees"? I own it who the hell am I paying?! Defeats the purpose of buying.
Agree 🙋🏽♀️ While mortgage is fixed rate the maintenance continues to increase. Management will place a lien on property for outstanding maintenance fee ✅
Pretty darn standard for any condo anywhere in the world. Maintenance fees cover building operations and upkeep. Elevators, garbage, exterior landscaping, exterior upkeep, hallway maintenance, cleaning, building utilities, laundry room, etc, etc, etc. You don't notice that in an apartment because the fees are folded into the rent.
I'm guessing half of that is because of property tax, so it's not that bad. Other costs are due to maintenance which you would normally need to set aside 1% of the property value. So it does add up fine. But it is a huge cost for anyone.
A one bedroom apartment I rented at 25th and 9th was $1150 a month in 1992. Two floors. Two separate entrances. Kitchen and bathrooms in-between. The same apartment is for sale for $1.7 million with a $2400 maintenance fee. And then you get to pay property taxes. I'm glad I did the New York thing in the 90s.
$685K to buy , $13,000 a year maintenance and taxes, half a fridge, NO Central Air, No W/D, Teeny tiny rooms, the sellers are making out better than bandits. A total rip off.
Real estate can only be viewed as equity, if it's fully paid for, and even then it's still somewhat of a liability, because it has to be maintained and the owner has to pay property taxes for it year after year.
Besides your deposit have you ever gotten money from leaving an apartment? All of the maintenance and taxes are folded into your apartments rent, so you're still paying for them either way.
@@taylorlibby7642 you have never had to replace an HVAC system or a roof. Trust me you aren't paying that in your rent. I have done both and neither is bad they are just different but until you have a decent amount of equity you are probably coming out even. Rent is a convenience and a necessity but if things are equal you are paying for the ease.
They really missed out on an opportunity when renovating that kitchen. It could have been a big L-shaped kitchen with a dishwasher and full-size fridge. They had the room for it but didn't do it.
Exactly! You'd have to be seriously deluded to think that cupboard is of good value when it is in fact a terrible example of just how bad things are in NYC. Do not even try to justify the price by saying you get to live in NYC, that is not a benefit! People are willing to pay extra for luxuries but not that much and not for the reduction in your quality of life that NYC brings!
i've made this comment before but will repeat it here: IMHO you've really done a great job taking the lead on connecting the world with street-level news that Casey Neistat used to do with his daily vlogs. Would love to see him guest on your channel or vice versa! Please keep it up Cash, and thanks for the occassional report from Japan!
Casey vlog was all about bullshit and himself his poor opinions while voting for crooked Hillary and anti USA agenda etc. This vlog here is all about real NYC people ! Don't compare!
Not hearing much from Casey about New York, he did vote for Clinton, (see his vid) can assume he voted for Biden, thinking he is in shock. What can he say?
@@marysalmon2367 What does that even have to do with the previous comment?? Republicans always have to bring politics into things that have nothing to do with politics to begin with...Why make it your whole personality?
Hi Cash-so whoever buys this pays $1050 in fees/taxes AND a mortgage payment AND has only a mini fridge?? Also we liked it when you would measure the rooms and give total square footage.
Dude you know you own the apartment right, just buy a bigger fridge if you want and renovate however you like. You don’t have to live like the previous owners or use the prop furniture
It's a nice apartment in an in-demand location, but even if you gave it to me I couldn't afford to live there. The monthly fee alone would be a third of my take-home, and the prices for everything in the area are high! The size of the kitchen encourages eating out a lot.
This one bedroom is actually quite spacious. People seem to forget that NyC is limited in space and you have studios going for costs of a 1bedroom which is robbery.
In 1972, my father bought a four floor brownstone in the heart of Bedstuy for $18K. Now we get to pay half a million for tiny shoebox apartments with $1000+ monthly maintenance fees. Yeah. America has become a joke.
@@Naturegurl124 He's speaking about what he knows personally. Many people don't have the time to look into world events. He's not trying to single out America. Also, it's not happening everywhere. There are areas of the world with much better living conditions. Even in the US, there are much more livable conditions in other areas.
@shefalichow7917 My point is it is happening in most other places besides America, so why even put the blame on America in the first place and call it a "joke" like it's anomaly here when it's not? And the COL and inflation here In the US are not even the fault of the USA either? It just sounds ridiculously unfair
$1075 a month for maintenance is absolutely insane, no wonder Landlords are asking $5600 on average. I thought we pay alot in Ontario but NY is crazy. Love the vids Cash ✌️
Functional renovated small (not tiny) one bedroom. The only thing I don't like is the bending down under the counter to get to the fridge and having to put the a/c's in the window. Seems price is reasonable for the great location. And it does seem very quiet, but who knows for sure?
Definitely not worth $685K, not to mention the maintenance. The kitchen-livingroom combo seems okay with decent cabinet and floor, but the bedroom is way too small. In theory, the headboard of the bed is not supposed to be blocking the window, but if you turn the bed against the wall in order to stay clear from the window, the room is not wide enough for the bed. I do like the Union Square area though.
The mortgage and fees for this apartment would be just under $5k/mo, and that is assuming a $140k down payment. Definitely will not help the housing crisis. My parents were able to buy their first house for $15k cash (1978), their third which was a brand new build (designed by my father) 5-bedroom 4.75 bath house for $90k in 1989. Their 4th was an older home in 1992 and was $35k it had 4 bedrooms and 2 bathrooms. In 2010 they tore down that house and built their current house for $220k. In 2022, it was appraised for $680k (more than 3x). The way to fix housing is not selling overpriced bedrooms and "investing in yourself" it is making a house not an "investment".
@@taylorlibby7642 All in Houston. But that isn't the point, the point is the crazy appreciation of housing prices due to houses being considered an "investable" asset. Every one of those houses are now worth mid and high 6-figures.
There is no regular size fridge? I thought that was a beverage fridge under the counter. Definitely a rip off for what you are paying for. The "experience" of living in New York is not worth it in my opinion. Exorbitant rent, high crime, rats, cockroaches, plus getting anywhere is a true workout. No thanks....life is difficult enough. Why make it harder?
Pro-tip: Take the 700K and buy a place on the Harlem or Hudson line of Metro-North, and take the train into the city whenever you want. I've lived and worked in this area of NYC for 20 years. No longer. If you like the soul-less ridiculousness that NYC has become then go for it.
That's what I did, go into the city on the weekend once or twice a month to hang out and enjoy the museums, restaurants and shopping while not paying thousands of dollars a month to live in a closet.
Buying versus Renting. The age-old question. - Buying ONLY makes sense for: 1. The bank, or...... 2. For a person who KNOWS they will be in the same residence for more than 15 years. Buying is more expensive, month to month, than renting, and if you get bad neighbors, repairs, natural disasters, insurance, HOA, maintenance, urban decay, you are on the hood for all of that that. New York has changed A LOT in the last 10-15 years, and not for the better, so NYC is not a great long-term investment. I grew up there, wish it was, but....
Son and I walked to Barry's Noho from the Union Square station and we went to the Wegmans. I just loved Wegmans there! But I also love Barry's Noho. He's moving to a nice one bedroom in LIC, however (modern building and the balcony is huge!), so we might end up going to Barry's on 86th instead when I visit. LIC is so nice. It has Multisweet, an Asian cafe, where I had the best ube cake I have ever tasted.
On top of HOA fees, you also pay insurance, taxes, utilities, home repairs/upkeep. The main benefits of owning a home are stabilizing your housing expense, bragging rights, and the chance of making your money back if you sell it for more money later.
Actually, the housing crisis is why this place cost so much. People will buy it that’s why the seller can charge so much. You would have to flood the market with new housing in order to bring prices down. But even then, so many people want to live in NYC it makes me wonder how much new property would need to be added to decrease overall demand.
A mini fridge? I've seen bigger fridges in campers.... Cute but too expensive with mortgage and taxes. Plus a mini fridge and basement laundry...... Pass.....
4:19 😅 That $1000 a month in maintaince is the equivalent of 1 months rent somewhere else. Why buy a house when you're still paying money every month that amount to rent? 😮😮
Maintenance fees are standard for any condo anywhere in the world. They pay for building upkeep, operations, and expenses. The reason you don't notice them in your apartments rent is because they're folded into the rent, usually with a 10-15% markup.
@@taylorlibby7642 standard yes, but $1078? That's too much. That's $12,936 per year, per unit! Let's say there have a minimum of 8 units in that apartment, that's $103,488 a year in maintance? What???????
@@BaDazai As I said - the maintenance fees cover operating expenses (including building taxes) for a high quality building in a highly desirable neighborhood in one of the most expensive parts of one of the most expensive cities in the world. Relative to similar accomodations in similar areas of the city those fees are quite reasonable. If you're a renter wherever you are you're already paying those fees but you don't notice them because they're folded into your rent (usually with a significant markup). The number itself may be eye popping to you, but everything is relative.
@@taylorlibby7642 you can try and paint the sky purple however hard you try, but it will still be blue. There is no way in la la land is that building costing that much to maintain! It has no private gardens, no amenities like gyms, shared common rooms, pools, offices etc! It has none of that. Even the basement laundry room they have doesn't cost that much to maintain. You can't just clap your hands at the face of stupidity and eat whatever you're served. The math does not add up!
@@taylorlibby7642 if you're speaking to me...I own the home I live in now a 3 family in The Bronx & a Co-op in Harlem which is why I said it's a dud! I am also a licensed real estate agent in NYC but haven't practiced since covid
Cash, I am happy in suburban Canada but coming along on your little neighbourhood (note the Canadian spelling, there) walks and apartment tours is always a ten minute vacation for me. For a guy who started off showing apartment tours you have also become a thoughtful and dynamic journalist. Versatile.
i like that apartment and the garden view, also the area. i would do a little dinnertable on the window, because of this wonderful view. It has a echo, so i would ly a carpet. I changed my practical table near kitchen, to living room window, where i can see birds, the hills, people gone bye.
Cash- Beautiful apartment. I bet it won’t last long. You were so enthusiastic and energetic today. I can see having a smaller fridge in that kitchen. You just need to have a market nearby and you are good to go. Thanks for sharing. Today was really a fun ride. Keep going!☮️👏👏👏👏
...how does this solve the housing crisis exactly? the monthly maintenance fee is pretty good for the size/location but there is also the mortgage on top of that would bring this up to the average price of what you would pay most other places in NYC which is kind of the problem with NYC right now
This is a very greedy seller. Almost $700K for a one bedroom with a mini fridge and a laundry in the basement? Service fees? Only a fool will buy this.
This brought back a lot of memories. Growing up, my parents had a co-op similar to this on the upper Westside. It served as a our second / weekend home. I loved going to Central Park, the Met, MoMa, Zabars and Silk Road Palace. I miss NYC so much.
An extended stay hotel has a bigger kitchen with a regular sized fridge, and that is a crazy thought. I understand how many options there are in NYC, and most people live outside their apartment, but how does a person who is not flat out wealthy afford the cost of housing and then eating out every day and the rest of the costs of life outside your place? I will never know, but I am curious.
$700k for any apt/ townhouse should include maintenance fees if you rent, if you buy then I understand paying extra. Still a rip off in price because it's just a 1bedroom. But that's NY😮
One of the things I dearly love about Cash's comments section is all of the performative self-righteous pearl clutching from people about NYC prices.😂🤣😅
Hahaha😊! The neighborhood is cute!! Yes, the bar there would be nice to go to!😊😊 The coop is cute with the vintage bathroom. I live the sink and the medicine cabinet. Yes, the frig is small! Hmmm!😮 Some I would have to maybe jusy buy a narrow half size frig. And then arrange thst somehow in that kitchen. I would use the small frig there to have as extra frig space a long with the chilled wine. The bedroom is cute with the selves there for books. And yes, I would leave the bed there in that position!!😊 Now the portable ACs are cool but where is the laundry room in that 🏢 building?? Agin, thank you for the cool tour along with the nice RE Broker there.😊😊
It's very cute with the exception of its extreme tininess.... Too expensive, and somehow even though it's cute it left me kind of cold like something was missing..... Sort of reminds me of an. Extended Stay hotel room
They offered the same type of deals in San Francisco and Oakland, California. Less than 3 years later, there were more free homeless encampments and unhoused people in front of and surrounding the area. Most states require you to build low income or offer bmr (below market rate) units for each or surrounding buildings. NY is already overcrowded, and with the migrant situation, it's going to get much worse. Personally, I would rake my chances with renting or applying for income based units. Basically, your wasting money because technically you'll never own this extravagant closet either , maintenance fees are code word for extra rent.
i think this is your first sponsored video? congratulations, I am loving your segments on what is going on in NYC, and with a few more sponsered videos perhaps you can solve your limited space and growing family issues, perhaps do a family channel based out of a Manhattan penthouse instead of a Los Angeles mansion...ala "ace family " but the "cash family". Love your work and watch you every day, thank you.
700k one bedroom with 1.2 k monthly maintenance fees (and a dorm sized small refrigerator in the city??!! Make that make sense! 😫 For that price, the least they could provide is a full size refrigerator even if it’s not ghat wide? 🙄🤷🏾♀️ So if it’s a couple you will limited to the groceries you buy to fill the refrigerator & will have to shop mid-week again?
I still can't over that in the midwest, you can buy a 5 bedroom, 4 1/2 bath home, with finished basement and huge kitchen, 3 car garage, deck and large backyard for 685. And no "monthlys", other than utilities and HOA's which are about 1000/YEAR if there is a community pool. This apartment is like a carriage house attached to such a property. Strange to me.
@5:33, you could probably get something from IKEA that would work for shoes and coats. @5:44, not a bad looking kitchen, although the sink looks absolutely useless for anything more than a teacup and saucer. I don't think it's a bad buy at $685,000 plus the monthly maintenance fee, and it might work out cheaper than renting if you can get a mortgage.
QUESTION FROM UK. Hello Cash, I really enjoy watching your channel because I feel I actually get to see what NY is REALLY like to live in - it's not all Friends and Sex in The City! For the benefit of those who don't live in the USA, please could you explain the monthly charges payable on property in NY? Sometimes a property tax is mentioned? And people have to pay for refuse collections? Just for you who aren't familiar with the UK, we pay Council Tax each month to our local authority ( the 'council' who administrate a geographical area, i.e. Birmingham City Council. This pays for such things as Local Policing, Education and Schooling, street cleaning and rubbish collection and lots of other services. It's based on the value of your property and varies from region to region. Here endeth the lesson! Happy Christmas everyone 😊🎅❤
I’m a doorman downtown manhattan. This is for the rich kids that their parents pay for and think this is a deal while they work in Barcelona cause everything else is over a Million with a 2K monthly 🤣
@@LilyGazou depends . Can be from $18- $32 if you are union or not . Plus tips . City downtown has changed a lot though. I’m kicking out homeless that try it every week now . Never was like that before
For $700k, I could buy a whole house in Chicago, upgrade it, decorate it nicely and still have money to save for retirement. Heck... You can get a 2 bdrm condo with one or 2 bathrooms for $300k. It's cute. Very cute. Nice and convenient area. Rent that for $4k a month. Still expensive, but more sane.
This is really neat, perfect for a single person or a couple. A bigger island may be able to accommodate a washer/dryer combo, which Jordan hates😂. Price wise, it’s New York😅.
Looks to me if you remove the trash can a fridge would fit there. Or remove the island and put a fridge there with a narrow breakfast bar next to it. There is room.
I’ve watched Cash for a couple of years now. I’ll never live in NY, but I’ve found his real estate hustle entertaining. 9 months ago he started sharing NY in decline. This guy obviously loves his city, but can’t close his eyes to the mismanagement that is killing NY. Cash, keep up the good work, and I hope your fellow citizens wake up soon and open their eyes to what could be.
Thanks for asking the question we would all ask - does this (hanger, AC, whatever) come with the apartment? For that price they should throw in a whole set of wooden hangers yikes!
Good luck trying to sell it when the time comes to move on. You should only purchase property when you know you will be in one place for a long time (20+ Years).
@@theoriginalbridgetconnors Someone else already posted that monkeys can fly out of my butt! You can't know unless you've tried to sell property before. It's never guaranteed that it will quickly sell or that you will make any profit on it. More often than not, unless it's paid off, you'll lose money.
“This is a great closet.” Sounds ridiculous. I get you’re a realtor, but this content clashes so hard with your very fair critique of city policies. From an ex-Atlanta resident and expat to South America, I’m laughing at 1700sq ft in my luxury apartment in the Beverly Hills of Ecuador… $180,000 to own.
Normalizing a shoe box should NEVER be acceptable. Creating unlivable conditions, only serves to further compound & exploit the housing crisis. Good ole fashion unadulterated greed. I'll show myself out. TY
I have to LOL when you show all the places you can buy stuff around in the neighborhood of the housing that is so overpriced you can’t buy anything else.
Not a bad apartment for a tiny space. It has a lovely layout. And seemed to be a good neighbourhood. But it must be slightly costly because of the neighbourhood I bet. Not from the States, so not sure. And near a farmer's market too.
$685K is oddly a steal for Manhattan, but it's a co-op (nosey neighbors, zero privacy) and the maintenance fee itself is an additional monthly rent.
The neighbors are no less nosy in a condo and the condo monthly fees are not a lot less.
It's garbage. Overpriced shite.
@@marylivingstone9815you can rent a condo though. Most coops are super restrictive and won’t let you rent it out.
What planet are you on?! $685k for that tiny place is bloody ridiculous!
Yes a co op requires RENT too aka maintainence. At over 1K, that is "thrown" away too. It is huge myth that renting is throwing away money and buying is not. The 130K downpayment can be invested in a low risk portfoloio and bring, let us say, 12K a year. Now with the 1K for Maint. plus the 12K return, you have 2K a month. You also do not have any legal bills or closing costs and flexibility so renting over buying is wiser for many (not all) people.
For $685K I'm gonna need a grown up fridge.
Too rich for your blood, peasant.
Better help is what we all need after watching people survive NYC!
😂😂😂Yes NY need a NY discount
People been doing fine it’s just the ones that’s always been struggling have a louder voice right now 💁🏽♀️💁🏽♀️🤷🏽♀️🤦🏽♀️🤦🏽♀️🤦🏽♀️🤦🏽♀️
😬🤣🤣🤣
😂😂😂😂
You yo yo's aren't sophisticated enough to live here in the Big Apple. You just don't have the savoir .....LOL
Cool neighborhood and apartment. Good looking farmers market. Being the child of depression era parents, a mini fridge lost me as did the fees. Yikes!!
Union Sq is the best farmers market in the city imo.
Your Depression era parents had a big fridge, or did they long for one to replace their icebox? In the Depression, people canned food they got seasonally in bulk. They didn't freeze it or refrigerate it. That deep closet would make a good pantry for what you have canned.
@@653j521cool story. It’s 2024, not 1932. People shouldn’t have to live like they’re in Depression-era America
Nice apartment in a good area but, no space for fridge/freezer, no home laundry and monthly fees of almost $1100 make it a non starter!
Wait, I have to pay $700k for a 1 bedroom apt....and then continue to pay $13k/year for "maintenance fees"? I own it who the hell am I paying?! Defeats the purpose of buying.
What are you paying 13k for?
I never understood that. It’s lot that but worst on average downtown manhattan .
Agree 🙋🏽♀️ While mortgage is fixed rate the maintenance continues to increase. Management will place a lien on property for outstanding maintenance fee ✅
Pretty darn standard for any condo anywhere in the world. Maintenance fees cover building operations and upkeep. Elevators, garbage, exterior landscaping, exterior upkeep, hallway maintenance, cleaning, building utilities, laundry room, etc, etc, etc. You don't notice that in an apartment because the fees are folded into the rent.
I'm guessing half of that is because of property tax, so it's not that bad. Other costs are due to maintenance which you would normally need to set aside 1% of the property value. So it does add up fine. But it is a huge cost for anyone.
A one bedroom apartment I rented at 25th and 9th was $1150 a month in 1992. Two floors. Two separate entrances. Kitchen and bathrooms in-between. The same apartment is for sale for $1.7 million with a $2400 maintenance fee. And then you get to pay property taxes. I'm glad I did the New York thing in the 90s.
$685K to buy , $13,000 a year maintenance and taxes, half a fridge, NO Central Air, No W/D,
Teeny tiny rooms, the sellers are making out better than bandits. A total rip off.
But the location is AMAZEBALLS, and I guess you'd have to be a New Yorker to understand just how awesome it is.
Real estate can only be viewed as equity, if it's fully paid for, and even then it's still somewhat of a liability, because it has to be maintained and the owner has to pay property taxes for it year after year.
Besides your deposit have you ever gotten money from leaving an apartment? All of the maintenance and taxes are folded into your apartments rent, so you're still paying for them either way.
Obviously, you're still learning about money.
The taxes on this place are included in the maintenance fee, or weren't you paying attention?
@@taylorlibby7642 you have never had to replace an HVAC system or a roof. Trust me you aren't paying that in your rent. I have done both and neither is bad they are just different but until you have a decent amount of equity you are probably coming out even. Rent is a convenience and a necessity but if things are equal you are paying for the ease.
@@cokedclassic7627🙄 So the HVACS and roofs on apartments just magically appeat out of thin air then? Or are they donated? No one has to pay for them?🙄
Pied à terre - foot to the ground. A small home or apartment only meant for occasional use.
They really missed out on an opportunity when renovating that kitchen. It could have been a big L-shaped kitchen with a dishwasher and full-size fridge. They had the room for it but didn't do it.
Title of video should be "this Tiny Apartment is why NYC HAS a Housing Crisis..."
Exactly! You'd have to be seriously deluded to think that cupboard is of good value when it is in fact a terrible example of just how bad things are in NYC. Do not even try to justify the price by saying you get to live in NYC, that is not a benefit! People are willing to pay extra for luxuries but not that much and not for the reduction in your quality of life that NYC brings!
Actually, the housing crisis is why this place cost so much. People will buy it that’s why the seller can charge so much.
i've made this comment before but will repeat it here: IMHO you've really done a great job taking the lead on connecting the world with street-level news that Casey Neistat used to do with his daily vlogs. Would love to see him guest on your channel or vice versa! Please keep it up Cash, and thanks for the occassional report from Japan!
Casey vlog was all about bullshit and himself his poor opinions while voting for crooked Hillary and anti USA agenda etc. This vlog here is all about real NYC people ! Don't compare!
Not hearing much from Casey about New York, he did vote for Clinton, (see his vid) can assume he voted for Biden, thinking he is in shock. What can he say?
Yeah. Cash and Casey. Could be cool.
Mary, what does politics have to do with it? I think you need to hit the river and spawn.@@marysalmon2367
@@marysalmon2367 What does that even have to do with the previous comment?? Republicans always have to bring politics into things that have nothing to do with politics to begin with...Why make it your whole personality?
Hi Cash-so whoever buys this pays $1050 in fees/taxes AND a mortgage payment AND has only a mini fridge?? Also we liked it when you would measure the rooms and give total square footage.
Eh hem, it's a _pied-à-terre_ (not for the provincial, simple folk). 🤭
@@paranoidhumanoid Lunch hour love nest for swells 😅
@@paranoidhumanoid
Or in english, a "foot-to-earth"
Dude you know you own the apartment right, just buy a bigger fridge if you want and renovate however you like. You don’t have to live like the previous owners or use the prop furniture
Square footage, ummm, not much.
I like it, thinking they did a lovely job on the interior, and it's in a great nook of the city.
Thanks Cash and Liz
😂$685,000 plus $1.000 per month! 😂For a mini fridge and laundry in the basement! 😂😂
And old window unit A/C. LOOOOL these people have no idea how foolish this appears to normal human beings.
700k + $1080 a month in maintenance fees and all you get is a mini fridge??? That’s a no for me
You could get a larger fridge, since it's not a rental.
It's a nice apartment in an in-demand location, but even if you gave it to me I couldn't afford to live there. The monthly fee alone would be a third of my take-home, and the prices for everything in the area are high! The size of the kitchen encourages eating out a lot.
This one bedroom is actually quite spacious. People seem to forget that NyC is limited in space and you have studios going for costs of a 1bedroom which is robbery.
In 1972, my father bought a four floor brownstone in the heart of Bedstuy for $18K. Now we get to pay half a million for tiny shoebox apartments with $1000+ monthly maintenance fees. Yeah. America has become a joke.
I mean that areas growth declined like crazy in the 70s and 80s, so also makes sense why it was cheaper
We will see new higher prices after the next import of 30 more million migrants for free money.
"AMERICA".?😂 I'm sorry I thought this was happening everywhere not just here?
@@Naturegurl124 He's speaking about what he knows personally. Many people don't have the time to look into world events. He's not trying to single out America. Also, it's not happening everywhere. There are areas of the world with much better living conditions. Even in the US, there are much more livable conditions in other areas.
@shefalichow7917 My point is it is happening in most other places besides America, so why even put the blame on America in the first place and call it a "joke" like it's anomaly here when it's not? And the COL and inflation here In the US are not even the fault of the USA either? It just sounds ridiculously unfair
$1075 a month for maintenance is absolutely insane, no wonder Landlords are asking $5600 on average. I thought we pay alot in Ontario but NY is crazy.
Love the vids Cash ✌️
It’s a co-op, so that $1075 includes property taxes, in addition to typical “HOA” fees.
It's worse in Florida
I am paying $485 per month HOA for the condo worth $220K in Tampa fl. So for this unit NY not expensive at all.
Functional renovated small (not tiny) one bedroom. The only thing I don't like is the bending down under the counter to get to the fridge and having to put the a/c's in the window. Seems price is reasonable for the great location. And it does seem very quiet, but who knows for sure?
Just leave ac units installed
4:19 1078 a month for maintenance😢😢😢😢That’s almost $300 more than my rent. I definitely can’t afford NYC
I love watching cash jordan, makes me realize how lucky i have it 😅
I was too until the snowbirds started fucking up the rent in FL too 😭
Definitely not worth $685K, not to mention the maintenance. The kitchen-livingroom combo seems okay with decent cabinet and floor, but the bedroom is way too small. In theory, the headboard of the bed is not supposed to be blocking the window, but if you turn the bed against the wall in order to stay clear from the window, the room is not wide enough for the bed. I do like the Union Square area though.
The mortgage and fees for this apartment would be just under $5k/mo, and that is assuming a $140k down payment. Definitely will not help the housing crisis. My parents were able to buy their first house for $15k cash (1978), their third which was a brand new build (designed by my father) 5-bedroom 4.75 bath house for $90k in 1989. Their 4th was an older home in 1992 and was $35k it had 4 bedrooms and 2 bathrooms. In 2010 they tore down that house and built their current house for $220k. In 2022, it was appraised for $680k (more than 3x). The way to fix housing is not selling overpriced bedrooms and "investing in yourself" it is making a house not an "investment".
Also it's a co-op so you don't own the unit, you own shares in what is essentially a HOA
ohh hell
ll nnoooooooo@@nicholasgutierrez9940
So where were your parents buying those houses 40+ years ago?
@@taylorlibby7642 All in Houston. But that isn't the point, the point is the crazy appreciation of housing prices due to houses being considered an "investable" asset. Every one of those houses are now worth mid and high 6-figures.
@@jeremyboyd1197 The point is more that you're performatively comparing apples and oranges.
Love Irving place! Used to hang at 22 Irving, that efficiency just right of the door
There is no regular size fridge? I thought that was a beverage fridge under the counter. Definitely a rip off for what you are paying for. The "experience" of living in New York is not worth it in my opinion. Exorbitant rent, high crime, rats, cockroaches, plus getting anywhere is a true workout. No thanks....life is difficult enough. Why make it harder?
A mini fridge will work only if you get groceries every day; otherwise you'll be eating out a lot.
Pro-tip: Take the 700K and buy a place on the Harlem or Hudson line of Metro-North, and take the train into the city whenever you want. I've lived and worked in this area of NYC for 20 years. No longer. If you like the soul-less ridiculousness that NYC has become then go for it.
Basically your are 100 percent correct.
That's what I did, go into the city on the weekend once or twice a month to hang out and enjoy the museums, restaurants and shopping while not paying thousands of dollars a month to live in a closet.
I just wish metro north didn't shut down overnight.
@@warnegoodman I think there's just a three or four hour gap at night. Hang-out in the waiting room with a good book lol.
@Questinia1 you can't because grand central closes overnight to keep homeless out.
Buying versus Renting. The age-old question. - Buying ONLY makes sense for: 1. The bank, or...... 2. For a person who KNOWS they will be in the same residence for more than 15 years. Buying is more expensive, month to month, than renting, and if you get bad neighbors, repairs, natural disasters, insurance, HOA, maintenance, urban decay, you are on the hood for all of that that.
New York has changed A LOT in the last 10-15 years, and not for the better, so NYC is not a great long-term investment. I grew up there, wish it was, but....
You don't realize that you're paying for all of that with your rent? It's just hidden by folding it into the rent, usually with a 10-15% increase.
Son and I walked to Barry's Noho from the Union Square station and we went to the Wegmans. I just loved Wegmans there! But I also love Barry's Noho.
He's moving to a nice one bedroom in LIC, however (modern building and the balcony is huge!), so we might end up going to Barry's on 86th instead when I visit.
LIC is so nice. It has Multisweet, an Asian cafe, where I had the best ube cake I have ever tasted.
On top of HOA fees, you also pay insurance, taxes, utilities, home repairs/upkeep. The main benefits of owning a home are stabilizing your housing expense, bragging rights, and the chance of making your money back if you sell it for more money later.
That’s not a queen size bed, it’s a full size. Actually looks even smaller than that.
4:19 I love the way she says reasonable price look at her face, even she don’t believe that🤣🤣🤣
How is this solving the housing crisis?
More apartments for wealthy New Yorkers is not affordable!
I didn't get the memo that said all of Cash's videos were now and forever going to be about the housing crisis.
@@theoriginalbridgetconnors Tell Cash that, because that's what the title highlights.
@@theoriginalbridgetconnors read the title of the video
Actually, the housing crisis is why this place cost so much. People will buy it that’s why the seller can charge so much. You would have to flood the market with new housing in order to bring prices down. But even then, so many people want to live in NYC it makes me wonder how much new property would need to be added to decrease overall demand.
I would place a large mirror on the wall to cover the breaker box but still have access to it. Then a bench in the niche.
A mini fridge? I've seen bigger fridges in campers....
Cute but too expensive with mortgage and taxes. Plus a mini fridge and basement laundry......
Pass.....
4:19 😅 That $1000 a month in maintaince is the equivalent of 1 months rent somewhere else. Why buy a house when you're still paying money every month that amount to rent? 😮😮
No no you see you get the privilege of renting that for 1k only after you purchase it for $700k
Maintenance fees are standard for any condo anywhere in the world. They pay for building upkeep, operations, and expenses. The reason you don't notice them in your apartments rent is because they're folded into the rent, usually with a 10-15% markup.
@@taylorlibby7642 standard yes, but $1078? That's too much. That's $12,936 per year, per unit! Let's say there have a minimum of 8 units in that apartment, that's $103,488 a year in maintance? What???????
@@BaDazai As I said - the maintenance fees cover operating expenses (including building taxes) for a high quality building in a highly desirable neighborhood in one of the most expensive parts of one of the most expensive cities in the world. Relative to similar accomodations in similar areas of the city those fees are quite reasonable. If you're a renter wherever you are you're already paying those fees but you don't notice them because they're folded into your rent (usually with a significant markup). The number itself may be eye popping to you, but everything is relative.
@@taylorlibby7642 you can try and paint the sky purple however hard you try, but it will still be blue. There is no way in la la land is that building costing that much to maintain! It has no private gardens, no amenities like gyms, shared common rooms, pools, offices etc! It has none of that. Even the basement laundry room they have doesn't cost that much to maintain. You can't just clap your hands at the face of stupidity and eat whatever you're served. The math does not add up!
700k and 1k a month "building maintenance". Are you high?
don't forget your mortgage payment lol...... and its a co-op so this a bigger dud
Have you ever owned a home of any kind, or have you always rented?
@@taylorlibby7642 if you're speaking to me...I own the home I live in now a 3 family in The Bronx & a Co-op in Harlem which is why I said it's a dud! I am also a licensed real estate agent in NYC but haven't practiced since covid
Cash, I am happy in suburban Canada but coming along on your little neighbourhood (note the Canadian spelling, there) walks and apartment tours is always a ten minute vacation for me.
For a guy who started off showing apartment tours you have also become a thoughtful and dynamic journalist. Versatile.
i like that apartment and the garden view, also the area.
i would do a little dinnertable on the window, because of this wonderful view.
It has a echo, so i would ly a carpet.
I changed my practical table near kitchen, to living room window, where i can see birds, the hills, people gone bye.
I wish you would show more apartment tours along with covering the news!
Cash- Beautiful apartment. I bet it won’t last long. You were so enthusiastic and energetic today.
I can see having a smaller fridge in that kitchen. You just need to have a market nearby and you are good to go.
Thanks for sharing. Today was really a fun ride.
Keep going!☮️👏👏👏👏
...how does this solve the housing crisis exactly? the monthly maintenance fee is pretty good for the size/location but there is also the mortgage on top of that would bring this up to the average price of what you would pay most other places in NYC which is kind of the problem with NYC right now
now that he's sponsored he's leaning into the clickbait titles
Does this solve the problem. The answer is no. The real answer is to leave and never look back.
Exactly. Im in Atlanta, Georgia and my bedroom alone is bigger than that whole floorplan.
I never get why anyone would even bother living in a city unless you're a rich bastard.
The trolls are out in force so it must be good.
nah, NYC is great
This is a very greedy seller. Almost $700K for a one bedroom with a mini fridge and a laundry in the basement? Service fees?
Only a fool will buy this.
This brought back a lot of memories. Growing up, my parents had a co-op similar to this on the upper Westside. It served as a our second / weekend home. I loved going to Central Park, the Met, MoMa, Zabars and Silk Road Palace. I miss NYC so much.
You didn’t capitalize the “u” in Upper Westside.
@@fredhammer6413 Pedant.
@@653j521 ; yes. Problem?
Glad Cash has the proper sponsor for anyone wanting to find a place in NYC 😂
😂😂😂😂
An extended stay hotel has a bigger kitchen with a regular sized fridge, and that is a crazy thought.
I understand how many options there are in NYC, and most people live outside their apartment, but how does a person who is not flat out wealthy afford the cost of housing and then eating out every day and the rest of the costs of life outside your place?
I will never know, but I am curious.
$700k for any apt/ townhouse should include maintenance fees if you rent, if you buy then I understand paying extra. Still a rip off in price because it's just a 1bedroom. But that's NY😮
I will say it again and agaain; NY is truly a vibe and it takes a certain kind of person to live there! It ain't for everybody. Nice apartment though🙂
@charlenesteward195
You’re 10,000% spot on!!! And, yes, it’s a nice apartment.
Nice 👍 staging. I love the feng shui book 📚 placement. Very zen. 💖
What a ridiculous price for an apartment that is not special in any way. No insuite laundry, no central air...
One of the things I dearly love about Cash's comments section is all of the performative self-righteous pearl clutching from people about NYC prices.😂🤣😅
Hahaha😊! The neighborhood is cute!! Yes, the bar there would be nice to go to!😊😊 The coop is cute with the vintage bathroom. I live the sink and the medicine cabinet. Yes, the frig is small! Hmmm!😮 Some I would have to maybe jusy buy a narrow half size frig. And then arrange thst somehow in that kitchen. I would use the small frig there to have as extra frig space a long with the chilled wine. The bedroom is cute with the selves there for books. And yes, I would leave the bed there in that position!!😊 Now the portable ACs are cool but where is the laundry room in that 🏢 building?? Agin, thank you for the cool tour along with the nice RE Broker there.😊😊
My grandson just moved to Boston from Wisconsin. The difference is the cost of everything. But he and his girlfriend love it.
Love this. Would need a real fridge, but other than that it’s perfect. Great storage.
It's very cute with the exception of its extreme tininess.... Too expensive, and somehow even though it's cute it left me kind of cold like something was missing..... Sort of reminds me of an. Extended Stay hotel room
That's how the owners used it.
Anyone crazy enough to buy this place NEEDS BetterHelp.
🤣🤣🤣🤣👊🏾
They offered the same type of deals in San Francisco and Oakland, California. Less than 3 years later, there were more free homeless encampments and unhoused people in front of and surrounding the area. Most states require you to build low income or offer bmr (below market rate) units for each or surrounding buildings. NY is already overcrowded, and with the migrant situation, it's going to get much worse. Personally, I would rake my chances with renting or applying for income based units. Basically, your wasting money because technically you'll never own this extravagant closet either , maintenance fees are code word for extra rent.
You have to pay more than 1000$ monthly even after you own it??? good gravy...
Have you ever owned a home of any kind, or have you always rented?
i think this is your first sponsored video? congratulations, I am loving your segments on what is going on in NYC, and with a few more sponsered videos perhaps you can solve your limited space and growing family issues, perhaps do a family channel based out of a Manhattan penthouse instead of a Los Angeles mansion...ala "ace family " but the "cash family". Love your work and watch you every day, thank you.
700k one bedroom with 1.2 k monthly maintenance fees (and a dorm sized small refrigerator in the city??!! Make that make sense! 😫 For that price, the least they could provide is a full size refrigerator even if it’s not ghat wide? 🙄🤷🏾♀️
So if it’s a couple you will limited to the groceries you buy to fill the refrigerator & will have to shop mid-week again?
You can buy a ranch with a modern house out West for that price. And make a living from it. 😂
I still can't over that in the midwest, you can buy a 5 bedroom, 4 1/2 bath home, with finished basement and huge kitchen, 3 car garage, deck and large backyard for 685. And no "monthlys", other than utilities and HOA's which are about 1000/YEAR if there is a community pool. This apartment is like a carriage house attached to such a property. Strange to me.
@5:33, you could probably get something from IKEA that would work for shoes and coats. @5:44, not a bad looking kitchen, although the sink looks absolutely useless for anything more than a teacup and saucer. I don't think it's a bad buy at $685,000 plus the monthly maintenance fee, and it might work out cheaper than renting if you can get a mortgage.
Most people can't afford it, so it won't solve anything.
Back to the drawing board.
We love you Cash!!! Keep up all your good work and God Bless you and your family❤️❤️
Love your show! I watch it every morning.
I never heard you say the water pressure sucks!
$1100 a month for “monthly maintenance”? 😂😂😂🤦♂️🤦♂️🤦♂️
Probably most of that is insurance and contingency fund (for major repairs like roof).
High-end microwave, yeah, but laundry in the basement. V. convenient when you get up for work and find you have no clean socks, etc.
We have to get you and ur family into a bigger place...good vibes !! 😊😊😊
QUESTION FROM UK. Hello Cash, I really enjoy watching your channel because I feel I actually get to see what NY is REALLY like to live in - it's not all Friends and Sex in The City!
For the benefit of those who don't live in the USA, please could you explain the monthly charges payable on property in NY? Sometimes a property tax is mentioned? And people have to pay for refuse collections?
Just for you who aren't familiar with the UK, we pay Council Tax each month to our local authority ( the 'council' who administrate a geographical area, i.e. Birmingham City Council. This pays for such things as Local Policing, Education and Schooling, street cleaning and rubbish collection and lots of other services. It's based on the value of your property and varies from region to region. Here endeth the lesson! Happy Christmas everyone 😊🎅❤
I’m a doorman downtown manhattan. This is for the rich kids that their parents pay for and think this is a deal while they work in Barcelona cause everything else is over a Million with a 2K monthly 🤣
How much roughly does it pay being a doorman? Seems a bit dangerous.
@@LilyGazou depends . Can be from $18- $32 if you are union or not . Plus tips . City downtown has changed a lot though. I’m kicking out homeless that try it every week now . Never was like that before
For $700k, I could buy a whole house in Chicago, upgrade it, decorate it nicely and still have money to save for retirement.
Heck... You can get a 2 bdrm condo with one or 2 bathrooms for $300k.
It's cute. Very cute. Nice and convenient area. Rent that for $4k a month. Still expensive, but more sane.
Thing is youd still be in chicago. 😂
@@chadleach6009
I'm in the northern burbs of Chicago.
And as soon as I'm able, I'm getting out! 😄
@DONNELLxOKAFOR true, there are nice areas if you can deal with the cold.
As a native floridian, I cannot.
Congratulations! I didn't know you were expecting again!!
This is really neat, perfect for a single person or a couple. A bigger island may be able to accommodate a washer/dryer combo, which Jordan hates😂. Price wise, it’s New York😅.
Because they take at least 6 hours just to wash and dry one load, rather go down to the basement, its in the building and only a few steps away.
@@bkm2797 : My $74 "portable" washer takes half an hour total to wash, spin, rinse and spin again.
@@bkm2797Missed the laughing emoji after that comment. So, did it hurt when your funny bone was removed?
bridgetconnors8424 ,
It's still in me, my funny bone that is, but I've had the displeasure of these washer dryer combos, and they aren't funny. Cheers
$1078 a month includes the taxes, does it include utilities?
Tiny apartments aren't good for people's mental health.
Love the video, just wondering when it was recorded? It doesn't look like December out there.
Looks to me if you remove the trash can a fridge would fit there. Or remove the island and put a fridge there with a narrow breakfast bar next to it. There is room.
Awesome job cash see you tomorrow my friend and drop like
I’ve watched Cash for a couple of years now. I’ll never live in NY, but I’ve found his real estate hustle entertaining. 9 months ago he started sharing NY in decline. This guy obviously loves his city, but can’t close his eyes to the mismanagement that is killing NY. Cash, keep up the good work, and I hope your fellow citizens wake up soon and open their eyes to what could be.
Thanks for asking the question we would all ask - does this (hanger, AC, whatever) come with the apartment? For that price they should throw in a whole set of wooden hangers yikes!
Hi Cash that is a nice tiny apartment. I hope NYC improve with more affordable apartments and housing great tour👍
Good luck trying to sell it when the time comes to move on. You should only purchase property when you know you will be in one place for a long time (20+ Years).
Someone else already posted that this has sold.
@@theoriginalbridgetconnors Someone else already posted that monkeys can fly out of my butt! You can't know unless you've tried to sell property before. It's never guaranteed that it will quickly sell or that you will make any profit on it. More often than not, unless it's paid off, you'll lose money.
Hello! I have a lot of catching up to do! Best to the family!
“This is a great closet.” Sounds ridiculous. I get you’re a realtor, but this content clashes so hard with your very fair critique of city policies.
From an ex-Atlanta resident and expat to South America, I’m laughing at 1700sq ft in my luxury apartment in the Beverly Hills of Ecuador… $180,000 to own.
Normalizing a shoe box should NEVER be acceptable. Creating unlivable conditions, only serves to further compound & exploit the housing crisis. Good ole fashion unadulterated greed. I'll show myself out. TY
To live in new york I don't think its a bad deal. Thanks for the awsome video.
Put the bed on adjacent wall let those sunshine rays in makes it better
Sue here: cute and functional. 💚 Just face the bed so it looks out the window. Coffee in bed, with pretty green trees or snow falling views!!!
You will have very little and be very happy.. that's your only option.
I have to LOL when you show all the places you can buy stuff around in the neighborhood of the housing that is so overpriced you can’t buy anything else.
To me New York is the epitome of being overrated you get way less out of living just to live around 8 million ppl.
Everybody has a choice. NYC doesn't care if you decide to live elsewhere.
@@eattherich9215 don’t be mad bc I think nyc overrated. That’s why I said to me….your comment is pointless in response to mines
You got mad because I pointed out that people have a choice. 😂😂😂 Whatever.
Paying 700k then 1.5k each month..."rent" 😂😂😂
Have you ever owned a home, or have you always rented? Or are you still living with family?
aTleaSt Ur bULiDInG “eQUiTy”
What’s the benefits of moving in ny? Make that video. So many cheaper safer states to go
Not a bad apartment for a tiny space. It has a lovely layout. And seemed to be a good neighbourhood. But it must be slightly costly because of the neighbourhood I bet. Not from the States, so not sure. And near a farmer's market too.
thats union square, where a riot broke out in July.
@@garrettshoreSo?
Why was the video clip photo different from the actual apartment?