That will be 15% of the first year's rent. Sign here.
According to BusinessWeek.com, here are some examples of current market prices:
Across Manhattan, rents at buildings with doormen started at an average of $2,499 a month for studios and were as high as $6,753 for three-bedroom units, Citi Habitats said. Studios in buildings without elevators rented at an average of $1,909, while one-bedrooms in those properties leased for an average of $2,577.
The downtown neighborhoods of Soho and Tribeca commanded the highest rents in the quarter, with studios leasing for an average of $2,220 and one-bedrooms for $3,575, according to Citi Habitats. Rents for two-bedroom units in those neighborhoods averaged $5,654.
On the Upper West Side, average rents ranged from $1,912 for a studio to $6,100 for a three-bedroom apartment.
Now, imagine having to pay a broker’s fee on top of these high rents. A broker’s fee in Manhattan is typically 15% of the first year’s rent. Not the first month’s rent, the first year’s rent! That just a hair under two month’s of rent.
That means your entry level doorman studio apartment ($2,499) commands a broker’s fee of $4,500. For another example, the one-bedroom rental in Soho or Tribeca ($3,575) would require a broker’s fee of $6,435!
Folks, those broker fees are nuts! That’s why all apartments for rent on RDNY.com are 100% no broker fee. No fee apartments in New York is absolutely the way to go!
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