With the news that Brooklyn apartments aren’t even really that cheap anymore, maybe we should all just move back to Manhattan. Well, Loftable.com is a new site that could help you find the New York City real estate version of the elusive truffle: The no-fee apartment. The site lists apartment buildings in the New York City area (mostly Manhattan so far, though buildings in other areas will be added soon) that can be rented to the public directly from the owner of the building or management company, and therefore come with NO FEE. That means avoiding the annoying situation in which you are forced to pay a broker whose function is merely to possess a key and use it more than a month’s rent for that task.
We talked to Loftable’s creator, who lives in the East Village and has moved three times since arriving in the city — and who has had the experience of using a broker — about the site.
Why did you start Loftable.com?
I found my current apartment by chance — I was walking around and happened to see a no-fee rental sign on a building. While this worked out great for me, I figured there had to be a better way to find no-fee apartment buildings based on where you want to live. I used a broker when I first moved to Manhattan
What do you hope to achieve? An apartment-fee-free world?
A broker can be really helpful with information about the market and giving you access to apartments you couldn’t otherwise find, and that is worth paying for. But if you’re willing to do the work yourself, there are a ton of buildings in New York that rent directly to the public as well. Loftable.com shows these buildings on a map, so you can find no-fee alternatives in a specific area.
How do you source the apartments you find?
There are a bunch of real estate companies in New York City that list their available apartment rentals. Loftable.com brings all these different websites into one map based directory so they are easier to discover and navigate. Once you find a building on Loftable.com, you can then check the management company’s website to find individual apartment listings.
How many apartments are currently listed?
The site has about 350 apartment buildings, and that number is continuing to grow.
This could be handy. Plus…there’s no fee to use it! (They’re on Twitter, too.)
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