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Re: Renovated house in the Heights asking for $20k/month rent!
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jmcee wrote:
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bodhipooh wrote:


The problem with the idea of using it as an AirBnB investment property is that from its location to the region's main attractions (NYC!) is not friendly for out-of-towners that need to rely on public transportation. The reason so many AirBnB and SkyCity Apartments are located all over DTJC is that they are all close (within short walking distance) to convenient mass transit.


It's not that far from the Congress LR and short cab ride to Hoboken PATH, but yeah not optimal. But for that view some people probably wouldn't mind. Epic selfies from the rooftop pool!!


The light rail is convenient to locals. Out-of-towners wouldn't know what to do, can't rely on it for late night hours (it is not 24/7) and on weekends, when you have the lion's share of tourists in town, the train runs a crappy schedule with long wait times. My friend was coming to visit the other day, and she had to wait almost 20 minutes for a train to show up. Like I said, it is about convenient mass transit being close by.

Posted on: 2015/9/11 21:17
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Re: Renovated house in the Heights asking for $20k/month rent!
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bodhipooh wrote:


The problem with the idea of using it as an AirBnB investment property is that from its location to the region's main attractions (NYC!) is not friendly for out-of-towners that need to rely on public transportation. The reason so many AirBnB and SkyCity Apartments are located all over DTJC is that they are all close (within short walking distance) to convenient mass transit.


It's not that far from the Congress LR and short cab ride to Hoboken PATH, but yeah not optimal. But for that view some people probably wouldn't mind. Epic selfies from the rooftop pool!!

Posted on: 2015/9/11 20:47
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Re: Renovated house in the Heights asking for $20k/month rent!
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There are AirBnB near MLK hub that don't look as good as this.. So I am sure this would work depending on how far you are away from the rail.

Posted on: 2015/9/11 18:22
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Re: Renovated house in the Heights asking for $20k/month rent!
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jmcee wrote:
Or some enterprising person could rent it out and then put it on AirBnB for let's say $700-800 a night or just rent rooms by the night and live there for free. Not a bad hotel room for that kind of money. Any takers?


The problem with the idea of using it as an AirBnB investment property is that from its location to the region's main attractions (NYC!) is not friendly for out-of-towners that need to rely on public transportation. The reason so many AirBnB and SkyCity Apartments are located all over DTJC is that they are all close (within short walking distance) to convenient mass transit.

Posted on: 2015/9/11 18:19
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Re: Renovated house in the Heights asking for $20k/month rent!
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jmcee wrote:
Or some enterprising person could rent it out and then put it on AirBnB for let's say $700-800 a night or just rent rooms by the night and live there for free. Not a bad hotel room for that kind of money. Any takers?


Too bad this is too late to take advantage of the Super Bowl profiteering...

Posted on: 2015/9/11 18:14
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Re: Renovated house in the Heights asking for $20k/month rent!
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Or some enterprising person could rent it out and then put it on AirBnB for let's say $700-800 a night or just rent rooms by the night and live there for free. Not a bad hotel room for that kind of money. Any takers?

Posted on: 2015/9/11 17:49
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Re: Renovated house in the Heights asking for $20k/month rent!
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Actual monthly rent is now listed at a smidgen below 14K, with the effective rent only being 12K because of the two free months when signing an 18-month contract.

I think Wishful_Thinking may have called it: I can totally see 4 frat boys in finance getting together to rent out this pad. At 3K each, it is not at all a bad deal for what amounts to a bachelor pad on steroids.

Posted on: 2015/9/11 16:59
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Re: Renovated house in the Heights asking for $20k/month rent!
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Posted on: 2015/9/11 16:00
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Re: Renovated house in the Heights asking for $20k/month rent!
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greenville wrote:
Why pay $20k to look at manhattan when with that much you could live in Manhattan! Oh and it has no parking to boot lol!

On the one hand, Dixon Leasing does a nice job with their renovations, which in turn bring in a more upscale tenant which can only be beneficial for the Heights, and anywhere else this would be a "trophy" property and a benchmark for future investors, so I hope this is a success for them.

That said, $20K/month rent would seem to also demand $20K/month neighborhood amenities. I live about a 10 minute walk from this place, and a few blocks away from Riverview Park and Ogden Avenue you are in a different world. You would have to confine yourself to such a tiny orbit - home/farmers market/ModCup/elevator to Hoboken (if you want to hang with the frat boys) - to feel like your surroundings "fit" and vice-versa.

My prediction - they drop the price to under $17,500/month and rent it to a group of young guys in finance.


Or a local drug kingpin with too much cash.

Posted on: 2015/9/10 20:30
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Re: Renovated house in the Heights asking for $20k/month rent!
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greenville wrote:
Why pay $20k to look at manhattan when with that much you could live in Manhattan! Oh and it has no parking to boot lol!

On the one hand, Dixon Leasing does a nice job with their renovations, which in turn bring in a more upscale tenant which can only be beneficial for the Heights, and anywhere else this would be a "trophy" property and a benchmark for future investors, so I hope this is a success for them.

That said, $20K/month rent would seem to also demand $20K/month neighborhood amenities. I live about a 10 minute walk from this place, and a few blocks away from Riverview Park and Ogden Avenue you are in a different world. You would have to confine yourself to such a tiny orbit - home/farmers market/ModCup/elevator to Hoboken (if you want to hang with the frat boys) - to feel like your surroundings "fit" and vice-versa.

My prediction - they drop the price to under $17,500/month and rent it to a group of young guys in finance.

Posted on: 2015/9/10 18:28
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Re: Renovated house in the Heights asking for $20k/month rent!
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TonyTwoPoops wrote:
Clifton actually makes more sense to me for corporate housing than the heights. What makes this listing so confusing is it's not cheaper than NYC and it's in an undesirable area right next to it - why wouldn't you just get a rental in the city if you're going to spend that much a month?


That was basically my point, you just made it much more succinctly than I was able to.

Posted on: 2015/9/10 17:01
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Re: Renovated house in the Heights asking for $20k/month rent!
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Well, it's getting some free publicity with the crazy price, and maybe someone sees it, likes it, offers less, and gets it.

The more you guys and others talk about it and draw attention to - the more the realtor has accomplished their goal.

Posted on: 2015/9/10 16:59

Edited by slim26 on 2015/9/10 17:23:10
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Re: Renovated house in the Heights asking for $20k/month rent!
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bunny22 wrote:
It does have parking--for over 3 cars. It also has an elevator. I picture a wealthy family--one with several olderish kids--renting here. They've got the pool, the view, the elevator, the parking, a lot of bedrooms. This set-up would cost a fortune in the city. It's just such a specific target market. Dixon is getting bolder and bolder.


Exactly. This could work in several scenarios. Also, they could be just fishing/testing the market. Most of their current, new properties being advertised as available are actually works in progress. They do not look the way they are pictured. I went to look at 4 of their properties this past weekend, and peeking through windows and doors, all of them were active construction jobs. So, maybe this is is just them trying to gauge possible interest.

Posted on: 2015/9/10 16:41
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Re: Renovated house in the Heights asking for $20k/month rent!
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It does have parking--for over 3 cars. It also has an elevator. I picture a wealthy family--one with several olderish kids--renting here. They've got the pool, the view, the elevator, the parking, a lot of bedrooms. This set-up would cost a fortune in the city. It's just such a specific target market. Dixon is getting bolder and bolder.

Posted on: 2015/9/10 16:34
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Re: Renovated house in the Heights asking for $20k/month rent!
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Clifton actually makes more sense to me for corporate housing than the heights. What makes this listing so confusing is it's not cheaper than NYC and it's in an undesirable area right next to it - why wouldn't you just get a rental in the city if you're going to spend that much a month?

Posted on: 2015/9/10 16:29
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Re: Renovated house in the Heights asking for $20k/month rent!
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fixjc wrote:
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bodhipooh wrote:
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fixjc wrote:
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bodhipooh wrote:
This was discussed previously in another thread.

Here is the Zillow listing. If the place is indeed the way it looks in the picture, someone may be willing to pay that price. Most likely, as corporate housing for high level executives who come into town for brief stays.



Doubt many "high level executives" are staying in the heights. That's a knock on the neighborhood but more on the time it would take to commute to anywhere. Corporate jets can be luxurious but, more importantly, they're the most efficient way to travel. When you're paying someone high six to seven figures, you're not having them waste time getting around.


Huh? From midtown to this location is about 30 minutes driving, unless you have some major delays at either tunnel. There are very few places to which you can get from midtown in 30 minutes. And, since you bring up the topic of corporate jets, do you realize that MOST corporate jets fly out of Teterboro? That's also 30 minutes away from this property. Very few corporate jets fly out of the main airports in the area (too much traffic, and too much hassle) so they operate out of Westchester County Airport (HPN) and Teterboro (TEB) with a few choosing Linden.


Well, if you have a corporate residence in midtown, you're already in midtown. And you're not living in the heights. I know that most corporate jets fly out of TEB; did you know that the passengers mostly arrive in cars straight from midtown, not coming from places in the heights?

I'm not putting this place down, it looks like a nice house. You wonder if they had a reality show in mind when they were renovating it. But to suggest that it would be used as a corporate residence for executives is ridiculous.


I get what you are saying, but you might be surprised to learn that many companies have executive housing in places like Clifton. If Clifton is enticing enough for some companies (and, believe me, I have seen some of these places, and they are not that great) then I can see a place like this really competing well.

Yes, 20K is a HUGE amount for that area. When I first saw the listing, I thought it was insane too. The only thing that makes sense to me is someone with the deep pockets to be able to afford this is a corporation.

Posted on: 2015/9/10 15:59
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Re: Renovated house in the Heights asking for $20k/month rent!
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I'd love to know how many of these "executive house rentals" Dixon have successfully rented, the one on West Hamilton Place was reduced in price and is now ~$7,000, been on the market three months now.

Anyone know any statistics on their other whole house rentals? How many have rented at these prices?

Here is the earlier thread http://jclist.com/modules/newbb/viewtopic.php?topic_id=34637

Robin.



Posted on: 2015/9/10 15:21
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Re: Renovated house in the Heights asking for $20k/month rent!
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Why pay $20k to look at manhattan when with that much you could live in Manhattan! Oh and it has no parking to boot lol!

Posted on: 2015/9/10 15:09
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Re: Renovated house in the Heights asking for $20k/month rent!
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They're probably hoping the view would be the attraction (and it IS a great view from there). But it's Dixon, so maybe they're just experimenting to see if there is a market for this type of rental there (they can probably afford to wait it out a bit and re-evaluate if needed).

Posted on: 2015/9/10 14:28
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Re: Renovated house in the Heights asking for $20k/month rent!
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I agree- what corporate executive that has a private jet would need to save a few bucks staying in the heights?? I feel like it's actually easier to drive out of Manhattan to get to Teterboro via GWB then dick around in JC traffic. I am sure someone will rent it but as corporate housing for an executive? I don't see it- who wouldn't rather just be put up in a hotel that is presumably closer to where all your meetings are? All the bells and whistles is what makes the rental confusing- anyone who can afford this and wants these kinds of accommodations would have no interest in being in the heights. If it wasn't so high end I could see it being corporate housing but like someone said below- this looks like it was made for a reality show.

Posted on: 2015/9/10 14:07
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Re: Renovated house in the Heights asking for $20k/month rent!
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Quote:

bodhipooh wrote:
Quote:

fixjc wrote:
Quote:

bodhipooh wrote:
This was discussed previously in another thread.

Here is the Zillow listing. If the place is indeed the way it looks in the picture, someone may be willing to pay that price. Most likely, as corporate housing for high level executives who come into town for brief stays.



Doubt many "high level executives" are staying in the heights. That's a knock on the neighborhood but more on the time it would take to commute to anywhere. Corporate jets can be luxurious but, more importantly, they're the most efficient way to travel. When you're paying someone high six to seven figures, you're not having them waste time getting around.


Huh? From midtown to this location is about 30 minutes driving, unless you have some major delays at either tunnel. There are very few places to which you can get from midtown in 30 minutes. And, since you bring up the topic of corporate jets, do you realize that MOST corporate jets fly out of Teterboro? That's also 30 minutes away from this property. Very few corporate jets fly out of the main airports in the area (too much traffic, and too much hassle) so they operate out of Westchester County Airport (HPN) and Teterboro (TEB) with a few choosing Linden.


Well, if you have a corporate residence in midtown, you're already in midtown. And you're not living in the heights. I know that most corporate jets fly out of TEB; did you know that the passengers mostly arrive in cars straight from midtown, not coming from places in the heights?

I'm not putting this place down, it looks like a nice house. You wonder if they had a reality show in mind when they were renovating it. But to suggest that it would be used as a corporate residence for executives is ridiculous.

Posted on: 2015/9/10 13:30
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Re: Renovated house in the Heights asking for $20k/month rent!
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fixjc wrote:
Quote:

bodhipooh wrote:
This was discussed previously in another thread.

Here is the Zillow listing. If the place is indeed the way it looks in the picture, someone may be willing to pay that price. Most likely, as corporate housing for high level executives who come into town for brief stays.



Doubt many "high level executives" are staying in the heights. That's a knock on the neighborhood but more on the time it would take to commute to anywhere. Corporate jets can be luxurious but, more importantly, they're the most efficient way to travel. When you're paying someone high six to seven figures, you're not having them waste time getting around.


Huh? From midtown to this location is about 30 minutes driving, unless you have some major delays at either tunnel. There are very few places to which you can get from midtown in 30 minutes. And, since you bring up the topic of corporate jets, do you realize that MOST corporate jets fly out of Teterboro? That's also 30 minutes away from this property. Very few corporate jets fly out of the main airports in the area (too much traffic, and too much hassle) so they operate out of Westchester County Airport (HPN) and Teterboro (TEB) with a few choosing Linden.

Posted on: 2015/9/10 12:53
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Re: Renovated house in the Heights asking for $20k/month rent!
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bodhipooh wrote:
This was discussed previously in another thread.

Here is the Zillow listing. If the place is indeed the way it looks in the picture, someone may be willing to pay that price. Most likely, as corporate housing for high level executives who come into town for brief stays.



Doubt many "high level executives" are staying in the heights. That's a knock on the neighborhood but more on the time it would take to commute to anywhere. Corporate jets can be luxurious but, more importantly, they're the most efficient way to travel. When you're paying someone high six to seven figures, you're not having them waste time getting around.

Posted on: 2015/9/10 11:05
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Re: Renovated house in the Heights asking for $20k/month rent!
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This was discussed previously in another thread.

Here is the Zillow listing. If the place is indeed the way it looks in the picture, someone may be willing to pay that price. Most likely, as corporate housing for high level executives who come into town for brief stays.

Posted on: 2015/9/9 23:01
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Re: Renovated house in the Heights asking for $20k/month rent!
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Photos are watermarked Dixon Leasing.

Posted on: 2015/9/9 21:45
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Renovated house in the Heights asking for $20k/month rent!
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Is this a joke? There's a rental listing asking $20k/month for a renovated house on Ogden Ave - it's technically closer to $18k since they're offering one month free, but still. Zillow indicates the current owner paid $515k for it in 2012. The owner can't possibly think anyone will rent at this price, seems crazy to me!

Posted on: 2015/9/9 21:07
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