Renting a New York City co-op or condo has its perks: You’re likely to get nicer finishes and appliances, more amenities, and a better building compared to many rentals—but there are some downsides to be aware of as well.
First, consider that you'll likely get more value for the money: You're spending more time at home because of Covid, and common and amenity spaces in co-ops and condo buildings are generally better maintained than rentals—and many have doormen and building staff. You're also more likely to find a better sense of community, because most of your neighbors will be longtime owners, whereas rental buildings tend to have more turnover.
However, if you rent in a co-op building, you will likely have to pass a co-op board interview first. Condo board also must approve your application. Another drawback is that many co-op and condo buildings limit how long the owner can sublet their apartment (co-ops tend to be more restrictive). So, if you’re looking for a long-term place, make sure to check the building’s rules on subletting.
Also keep in mind that some amenities might be restricted to owners or shareholders, and you might have to pay an extra fee to use them as a renter.
So, if you’re interested in renting a co-op or condo apartment in NYC, here are five on the market for less than $4,000 a month (most are a lot less), including a Yorkville condo and an Astoria co-op.
301 East 79th St., #29K, Yorkville
This studio is asking $2,150. The condo, shown virtually staged, has hardwood floors, south-facing window, four closets, and a separate kitchen with a pass-through. Located in Continental Towers, amenities include a doorman, live-in super, laundry room, roof deck, and courtyard. A two-year lease is required. The Penrose, Emack & Bolio’s, and Central Park are nearby.
243 West End Ave., #1008, Lincoln Square
This one bedroom, one bath is asking $2,795 with one month free on a 12-month lease. The no-fee co-op features a foyer, oversized windows, restored hardwood floors, high ceilings, and stainless steel appliances in the windowed, eat-in kitchen. Amenities include a live-in super, full-time doorman, bike storage, and laundry room. Riverside Park, Bloomingdale’s Outlet, and Sushi Yasaka are nearby.
21-05 33rd St., #2128-2G, Astoria
This two bedroom, one bath is asking $2,850 with two months free on a 12-month lease. The co-op has hardwood floors, exposed brick walls, stainless steel appliances, recessed lighting, and a renovated bath. Amenities include a live-in super and laundry room. Taverna Kyclades, Martha’s Country Bakery, and Buffalo Exchange are nearby.
157 Ludlow St., #2R, Lower East Side
This two bedroom, one bath is asking $3,600 with one month free on a 12-month lease. The condo has hardwood floors, high ceilings, stainless steel appliances, an in-unit washer/dryer, and a modern, windowed bath. The 10-unit building has an elevator and live-in super. Katz’s Deli, Russ & Daughters, and Sara D. Roosevelt Park are nearby.
1 City Point, #36D, Downtown Brooklyn
This one bedroom, one bath is asking $3,900 with one month free on a 12-month lease. The condop has hardwood oak floors, oversized windows, Miele appliances, an in-unit washer/dryer, and radiant heat floors in the bath. Amenities include a doorman, concierge, a bike room, playroom, gym, swimming pool, and a media room. Fort Greene Park, Dekalb Market Hall, and Forno Rosso are nearby.
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