Marbella Rent Increase. I Need a New Home!

[wishiwas]

I recently received a renewal notice at the Marbella. My rent is due to increase 11%. Yikes.

Does anyone have any recommendations for less expensive alternatives?

I would consider leaving Newport as long as I could still have a decent commute to midtown.

As for Newport buildings, what is the price range for 1-bedrooms? What is the extra fee for pets?

[Sonia]

Wishiwas,

Speak to Vienna, tel: 201-626-2056, she can start showing you units as they become available (occupancy rate in Newport is around 100%). It may take a few months of viewing until you find a unit you love. If you're serious, I can tell Vienna to expect your call.

Prices in TOA vary, depending on apartment size, views, floor, etc. I believe one-bedrooms start around 1,600 and up in the better buildings. Newport is pet friendly, there is no additional rental fee for dogs, but membership to the dog run is $25.00 yearly.

11% is about 1% above the maximum increase the property management should be charging.

[youngc]

I got a similar increase for a 2BR. Planning to move out too. The rent was alreday too much and it now maybe cheaper to rent at some places in Mahattan! The leasing office may be pricing itself out of the market.

[chaturganj]

Marbella was a new building last year. The apartment we rented then was a brand new apartment - never lived in before. Now its an old apartment - so as to say. If any thing, the rest should go down. All the buildings on the other side of the path station (north of the newport path station) are cheaper than marbella. Marbella should reduce their rent.
Isnt there any kind of law enforcement regarding rental prices? This is just crazy! How can a single earning individual pay a rent of 2000 a month? What will he save out of his 80k earning after taxes and 24000 an year in rent!! This is just artifical! And 80 is a good earning from national or even state averages I believe. Does this mean all single people should move out of newport, or cram themselves in shared apartments?
These buildings are all pathetic. No good heating. Loud neighbors. No included heat in these rents. I had cold air flowing in through under my ac whole winters. Even after complaining to the management. Even cooking is electric in marbella. It s**ks. I might have to move out too. And $50 a month extra for a gym that I don't even use.

[PHXguy]

I recently received a renewal notice at the Marbella. My rent is due to increase 11%. Yikes.

Does anyone have any recommendations for less expensive alternatives?

I would consider leaving Newport as long as I could still have a decent commute to midtown.

As for Newport buildings, what is the price range for 1-bedrooms? What is the extra fee for pets?
11% does seem ridiculous. Have you tried negotiating with them?
If you have a car, there are a lot of apartments along NJ Train stations with descent commute to Manhattan. Try River Place at Rahway. Beautiful brand new building 1 block east from Rahway Station. Very reasonable rent and nice downtown area. Said to be an upcoming town in NJ. Good luck. ;)

[LostinLaMancha]

Marbella's rents seem ridiculously high. I know it was a new construction, and they were giving 2 free months away, but one should always realize that if they intend to stay for a longer term, then then the value of two free months gradually erodes away. I suppose enough companies have subleased apartments in Marbella ( there is one which has subleased about 100 ) so that a large percentage of residents themselves actually do not pay the rent. If that had not been the case, it would still have been pretty empty, like it was around this time of the year last year.

Its seems pretty difficult to rent a two bedroom in Marbella or Avalon, if you are a single income family and you are not making over 100k or something.

[LostinLaMancha]

Marbella was a new building last year. The apartment we rented then was a brand new apartment - never lived in before. Now its an old apartment - so as to say. If any thing, the rest should go down. All the buildings on the other side of the path station (north of the newport path station) are cheaper than marbella. Marbella should reduce their rent.
Isnt there any kind of law enforcement regarding rental prices? This is just crazy! How can a single earning individual pay a rent of 2000 a month? What will he save out of his 80k earning after taxes and 24000 an year in rent!! This is just artifical! And 80 is a good earning from national or even state averages I believe. Does this mean all single people should move out of newport, or cram themselves in shared apartments?
These buildings are all pathetic. No good heating. Loud neighbors. No included heat in these rents. I had cold air flowing in through under my ac whole winters. Even after complaining to the management. Even cooking is electric in marbella. It s**ks. I might have to move out too. And $50 a month extra for a gym that I don't even use.


I hear you buddy

[wishiwas]

Sonia,

Can you please speak with your friend? I can call tomorrow if that is convenient for her.

Marbella charges for each pet + pet deposits. So I am pleasantly surprised.

[Humanoid]

How come there's "NO PETS" written in big red letters on the lease and at the same time pets are encouraged...

[Sonia]

Wishiwas,

I'm sending you a PM.

[bonacera]

How come there's "NO PETS" written in big red letters on the lease and at the same time pets are encouraged...
I asked the same question to the rental office before signing a contract few years ago. They said that even though the contract says so, the landlord has never object to a tenant's having pets, and as a result, I should not worry about that. This is a kind of implied warranty from the sales person; therefore, no pet owners in TOA should worry. ;)

[Gaga]

I recently received a renewal notice at the Marbella. My rent is due to increase 11%. Yikes.

Does anyone have any recommendations for less expensive alternatives?

I would consider leaving Newport as long as I could still have a decent commute to midtown.

As for Newport buildings, what is the price range for 1-bedrooms? What is the extra fee for pets?

here are some suggestions if you work in the city

1) forest hills(71st continental ave), queens. Very nice and safe neighborhood. The area is actually a lot better than newport for living and much cheaper rent. Express e/f subway at doorstep to nyc.

2) journal square st johns condo, nice building/people. 5min walk to jsq path. Area is of course is not as good as newport, but it's pretty safe and there are cabs lined up right outside path for late night/bad weather.

good luck

[tjmax]

here are some suggestions if you work in the city

1) forest hills(71st continental ave), queens. Very nice and safe neighborhood. The area is actually a lot better than newport for living and much cheaper rent. Express e/f subway at doorstep to nyc.

2) journal square st johns condo, nice building/people. 5min walk to jsq path. Area is of course is not as good as newport, but it's pretty safe and there are cabs lined up right outside path for late night/bad weather.

good luck


I am not very big on Forest Hills - its developed and safe, yes, but you will need to find something close to the E/F or the walk can be bad. Also, Queens Blvd, otherwise known as "death blvd," runs right through forest hills. And finally, luxury apartments are few and far between. I looked all over FH before moving to Newport. Like Manhattan, all the best deals involve brokers and broker fees as well.

[youngc]

How about Bronxville or further up in Westchester county? Has anybody lived there and used the Metro North for the daily commute?

[Nic]

Has anyone had any luck trying to negotiate the rents down in Marbella or know what they're charging new tenants? I think they've done so well securing corporate clients they don't have a problem maintaining occupancy even if the rent rises cause a few people to move out. I thought about moving out just for a change of scenery, but I still like the Marbella enough to stay on at least another year.

[yankees400]

If you want to know what they're charging new tenants you could call the rental office and pretend to be a prospective new tenant and see what they quote you.

[chaturganj]

Yeah I would be very interested in knowing that too. What are they charging new tenants.
When I signed in last year, my rent was 1800.. but averaged to 1540 per month because of the free 2 months. Seeing that they want to renew it at 2030, it is a 31% effective increase in rent. I don't think it makes sense. Marbella was a new building when I signed up last year. Not any more. There are issues with walls being very thin because of loud music. I have been disturbed rather rudely by the guard to lower my music, when it was hardly loud at all. And I can hear beats from my neighbor all the time. Good thing its not my neighbor next to my bedroom.
The amenities fee they charge 500 per year is a total waste because they couldnt have a smaller gym room. 40 dollars per month for that gym and that pool table?? I think not.
The washer drier were an advantage but I would be better off moving to one of the cheaper buildings around the newport path station, and buying my own washer drier and throwing it after one year. What is marbella charging.. like 500 more than those other buildings on a $1500 one bedroom apt.?

[LostinLaMancha]

Yeah I would be very interested in knowing that too. What are they charging new tenants.
When I signed in last year, my rent was 1800.. but averaged to 1540 per month because of the free 2 months. Seeing that they want to renew it at 2030, it is a 31% effective increase in rent. I don't think it makes sense.

there is nothing like effective rent increase. When you got those free months, you knew that the next rent hike was going to be on that rent, not your effective rent. As i hav mentioned before, the longer you would stay, the higher your "effective rent" would be. You got a 230 dollar hike, which is still high, but saying that they hiked it by 31% is only fooling yourself.


Marbella was a new building when I signed up last year. Not any more.

Why is it not a new building? Aren't you the only one who has stayed in it, and that too only for one year? if a year old building is not new, what is?



Good thing its not my neighbor next to my bedroom.
The amenities fee they charge 500 per year is a total waste because they couldnt have a smaller gym room. 40 dollars per month for that gym and that pool table?? I think not.


More than that. You get a pool. You get a community room. you get a room where you can play your own dvd's effectively making it a mini theatre. You can hold parties in the community room thus giving you and guests a lot of space. You get a business centre.


The washer drier were an advantage but I would be better off moving to one of the cheaper buildings around the newport path station, and buying my own washer drier and throwing it after one year. What is marbella charging.. like 500 more than those other buildings on a $1500 one bedroom apt.?

Where do you plan to install the washer dryer in those buildings? And do you know how much a washer dryer costs? no you would not be better off buying your own washer dryer and throwing it off after a year.

Marbella is charging way too much. but it is up to you decide whether it is worth it or not. When I first saw marbella, it liked them, but decided that they were not worth the prices they were charging. I knew that the rent increases were going to be based on actual rent, rather than the effective rent. And more importantly, i wanted to stay at one place for a longer term. So I made a sensible decision. If you think marbella is not worth the price, leave it, and go to some other building. There are options available. That is the only way those chaps are going to realize that that are over priced.

[PHXguy]

I moved in to SH immediately after 9/11 where the building was half empty. I got a really good deal so I signed 2 year lease. Four months before my lease was up last year, I was offered 4% increase for 1 year and 3% for 2 years. It was still way below market as I did my research. Nevertheless, 3 months before my lease was up, I found a much better deal at Liberty Towers, again I signed 26 month lease the longest term they could offer at that time. So, at least I know I am paying below market for my rent for a secured amount of time. About 6 months before I lease is up, I will start doing my research again to find the best deal in the market, hopefully I'll find another one.

[nyartguy]

I moved in to SH immediately after 9/11 where the building was half empty. I got a really good deal so I signed 2 year lease. Four months before my lease was up last year, I was offered 4% increase for 1 year and 3% for 2 years. It was still way below market as I did my research. Nevertheless, 3 months before my lease was up, I found a much better deal at Liberty Towers, again I signed 26 month lease the longest term they could offer at that time. So, at least I know I am paying below market for my rent for a secured amount of time. About 6 months before I lease is up, I will start doing my research again to find the best deal in the market, hopefully I'll find another one.

How do you like Liberty Towers? Are the floors and walls solidly built? Do you feel safe? How is the commute?

Cheers!

[wishiwas]

Are you in a studio? I never heard of 1-bedrooms being so cheap in the Marbella. I have a 1-bdrm and I am paying way more than that. Am I being ripped off?


Yeah I would be very interested in knowing that too. What are they charging new tenants.
When I signed in last year, my rent was 1800.. but averaged to 1540 per month because of the free 2 months. Seeing that they want to renew it at 2030, it is a 31% effective increase in rent. I don't think it makes sense. Marbella was a new building when I signed up last year. Not any more. There are issues with walls being very thin because of loud music. I have been disturbed rather rudely by the guard to lower my music, when it was hardly loud at all. And I can hear beats from my neighbor all the time. Good thing its not my neighbor next to my bedroom.
The amenities fee they charge 500 per year is a total waste because they couldnt have a smaller gym room. 40 dollars per month for that gym and that pool table?? I think not.
The washer drier were an advantage but I would be better off moving to one of the cheaper buildings around the newport path station, and buying my own washer drier and throwing it after one year. What is marbella charging.. like 500 more than those other buildings on a $1500 one bedroom apt.?

[LostinLaMancha]

Are you in a studio? I never heard of 1-bedrooms being so cheap in the Marbella. I have a 1-bdrm and I am paying way more than that. Am I being ripped off?

Everyone in Marbella is being ripped off in one way or the other. 1800 for one bed is also what I was offered for one of the lower floors. The rent goes up by like $5 per floor. so at 25th floor you'd be paying about 1925. and this would possibly be the case when you have no view, or overlook JC. With a manhattan view it could easily be 2100.

i recently inquired about a 2 bed, and they offered me a "deal" at almost 3k!!! thank you very much.

[Nic]

Yea, I'm on the 29th with 2 beds. Rent will be abt three grand a month.

[chaturganj]

I am paying 1800 for a north side apartment on 22nd floor.. (1 bedroom)

Of course, I knew that the new lease is going to be from 1800. however, to them, if I just live for one year and go away.. they get a rent of 1540.. It might not be said in the lease but it is very real from an actual statistics/math perspective.

Any good suggestions on where to move next? I was thinking avalon or the pier side apartments. Has any one lived in St John condos (some thing like that) in journal sq. and what are there rents like etc?

Are the avalon people giving a month or more free now a days?

By the way I know a person whose lease marbella have renewed at about 1900 for a 1 bedroom facing south on the 8th floor.

[yankees400]

Yea, I'm on the 29th with 2 beds. Rent will be abt three grand a month.
Why would anyone pay $3k in rent? That is outrageous. If you can afford that much money a month why wouldn't you just buy a place?

[chaturganj]

Why is it not a new building? Aren't you the only one who has stayed in it, and that too only for one year? if a year old building is not new, what is?

Buddy.. what I meant was not old.. but "not a brand new" building. There is some thing different about moving in an apartment that has never ever been lived in by anyone..... that was worth some extra premium. A new car depreciates in its value faster than an old car..

[wishiwas]

I can afford $3k per month. I just choose not to drop $3k per month on rent.

[nyartguy]

You can probably get a decent apartment for $3k in Manhattan, and if you're in Jersey City for it's proximity to the city...why not just live there?

:)

[Nic]

I work in Morris County, NJ, which is why I don't live in Manhattan - the commute would be a pain in the neck. I'm not sure anyway I could get so spacious a place with such a good view in Manhattan for $3k, and I can get into Manhattan pretty quickly from Newport. I don't buy because I don't know how long I'm going to live here - possibly only another year or so before my company sends me somewhere else, and buying a property in the current market has a lot of downside risk that could make $3k a month down the drain look cheap. Having said that, I am seriously doubting that I will renew at the end of this next lease.

[Gaga]

Any good suggestions on where to move next? I was thinking avalon or the pier side apartments. Has any one lived in St John condos (some thing like that) in journal sq. and what are there rents like etc?



i just bought a 2br in st johns after much research. best bang for the buck. If you renting, 1br 800 sqf goes from 1.3k to 1.5k 2br2bath 1000-1200sqf i saw for 2k. 5min walk to path along jfk blvd, no problem with safety. And cabs lined up outside path for late night/weather. Of course those are condos, so each unit's condition will be different depends on how well the owner maintains them.

Building is high rise with lobby/doormen etc, tenants are similar to the ones living in newport, havent seen any shady/punk types. $80 gated parking and central heat/air included in rent. Many young professionals are moving to st johns now. Area has many stores, but no mall or big dept stores like newport though.

bottomline, area is not as good as newport but you save more money, your choice.

[nyartguy]

i just bought a 2br in st johns after much research. best bang for the buck. If you renting, 1br 800 sqf goes from 1.3k to 1.5k 2br2bath 1000-1200sqf i saw for 2k. 5min walk to path along jfk blvd, no problem with safety. And cabs lined up outside path for late night/weather. Of course those are condos, so each unit's condition will be different depends on how well the owner maintains them.

Building is high rise with lobby/doormen etc, tenants are similar to the ones living in newport, havent seen any shady/punk types. $80 gated parking and central heat/air included in rent. Many young professionals are moving to st johns now. Area has many stores, but no mall or big dept stores like newport though.

bottomline, area is not as good as newport but you save more money, your choice.

Does St. Johns have a website?

[Gaga]

dont think so, it's condo so usually you deal directly with owner instead of a sales office.

this is one i found just now by looking at craigslist. Guy is asking 2.2k coz of high floor / terrace.

http://newyork.craigslist.org/jsy/abo/66107150.html

[LostinLaMancha]

I can afford $3k per month. I just choose not to drop $3k per month on rent.

Now I bet Nic really wishes you had eloped with him.

[wishiwas]

Nah, Nic probably earns more than my husband and I combined! ;)


Now I bet Nic really wishes you had eloped with him.

[LostinLaMancha]

Nah, Nic probably earns more than my husband and I combined! ;)

Right! Damn the exchange rate!!!

[wiley]

Why would anyone pay $3k in rent? That is outrageous. If you can afford that much money a month why wouldn't you just buy a place?

Because being a home owner can be very expensive. I was a home owner of single house twice before and I currently own a condo out of state. Taking into account size, location, school and real estate tax, ... $3,000 rent a month can be a lot more reasonable than it sounds. I have built a little model that analyze breakeven of renting versus buying, given my own views of future appreciation potential, transaction costs, tax, management fee, rent increase, ... bla bla bla. Given current mortgage rate and all time high of apartment prices in Manhattan (average 2BR is $1.42 million according to a report released last week), you have to be really bullish about future property prices plus you better plan to keep it for at least 3 years in order to make buying a better choice than renting.

I won't be surprised if we see rent go up close to 10% per year in the next few years in areas like Newport or Marbella. The current environment should have driven many marginal buyers out of the market and they should be looking to rent.