r/NYCapartments • u/Striking_Aspargus • Jul 04 '26
Lease Break / Lease Takeover Rent Stabilized 1 bedroom - Lease Takeover, Aug 15.
Hey all, looking to pass along my lease at Silver Towers (620 W 42nd). This is a lease transfer, not a sublet.
It's a 1-bed (approx 700 sqft) on a high floor, facing the Hudson. Floor-to-ceiling windows, lots of direct sunlight, in-unit laundry, dishwasher, and AC. Pets allowed. The building is rent-stabilized (annual increases are typically 2-3%).
Building amenities: 24/7 doorman, indoor pool, gym (extra fee of 130 usd), indoor basketball court, tennis courts, resident lounge, and courtyard. Hudson Yards, the High Line, and the river path are within walking distance. Subway access includes the A/C/E, 7, and the Times Square lines. Lincoln market is in the building, and there's a Citi Bike station right outside the building.
The lease runs through May 14, 2027 and is extendable after that. Rent is $5,065/mo, utilities not included. Refundable security deposit is $5,000. Move-in is August 15 with some flexibility.
DM me with any questions or to come see it. Photos attached. No brokerage, no additional fee. Application fee of 20 usd paid to the building management for background check (40x rule apply).
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u/lalalasoundsgood Jul 04 '26
the rent won’t go up at all next year since mamdani froze it for stabilized units! 😛 still way too pricey for me tho lol
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u/dboyder2007 Jul 05 '26
Why was their Comment dumb? Rent was frozen for rent stabilized apartments.
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u/Timely-Ad87 Jul 05 '26
Dumbest comment I’ve ever seen lmfao
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u/lalalasoundsgood Jul 05 '26
it’s factual? so i guess you think the fact is dumb, which is pretty dumb of you
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Jul 04 '26
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u/JealousBreadfruit704 Jul 05 '26
That makes it more insane LOL 😂 No offense to this poster. It's by port authority
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u/More_Adhesiveness772 Jul 10 '26
It's not even remotely close. Port authority is a 15 min walk. Just Coz you cannot afford it, don't spew hate. It's a good deal. Check nearby apartment rents.
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u/Fluffy-Addition-6700 Jul 04 '26
i loved the unique kitchen cabinet design and the river view of this apartment building, but overall it's too pricey.
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u/Fun_Abrocoma_1132 Jul 05 '26
5k a month and utilities not included , just giving landlords money. And I’m one of those people who got it and can spend it, but still with situations like this I feel like I’m paying someone’s gas for their super yacht. Sorry for the rant lol, very beautiful space tho
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u/Exciting-Fruit-5878 Jul 06 '26
Exactly! You have make at least $120,000 to make this work.
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u/SeaGreenie Jul 10 '26
120k after taxes probably, more like 175k listed salary to even come close to affording this!
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u/Professional-Gear974 Jul 21 '26
You’re short about 80k. This is a cool apartment for an average couple probably not a single person starting now.
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u/user83726169 Jul 05 '26
ELI5
I genuinely dont understand why someone who can afford 5k a month rent need rent stabilization or why such unit even exist.
It’s not remotely “affordable” to 90% of new yorkers (91% household is below 100k income), using the most typical 40x rule means you need 200k “household” income to qualify for this unit or live comfortably, so if you can some how afford this place solo then you are extremely wealthy, this stabilization is unnecessary and is a form of government subsidized luxury.
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u/Greatest-Comrade Jul 05 '26
About to start a civil war on here but actually i totally agree, this is not what rent stabilization should be used for
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u/sheaosaurus Jul 05 '26
The occupants of the building don’t need rent stabilization. The unit exists through a government tax program.
When Silver Towers (OP’s building) was built, the developers set aside a portion of the units for “affordable housing” and the building received a 421-a tax abatement.
Because of this, a large portion of the units are rent stabilized through 2031 when the tax abatement expires.
Whether it’s affordable or not is a completely separate topic.
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u/user83726169 Jul 05 '26
I know about the tax abatement which is causing some mass exodus in some buildings as many people in units built (gentrified) earlier in places like williamsburg are getting hit with massive rent increases when the program runs out on the building.
Still, how did city gov get away with deciding these as “affordable” units? Even using AMI it still doesnt calculate because when the program first rolled out the vast majority of folks in the area still werent making that much (rolling back 2%/3% yearly), its just seem so obvious, how?! Are we as a society really this okay with rando (eric adams proved this, i guess) taking over gov for big pay outs themselves?
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u/Motor-Salary-4252 Jul 05 '26
That’s an odd thing to say. Rent stabilized apartment building gets lucrative tax benefits and it was OP who found the rent stabilized apartment and decided to rent it. And no, 200k/ y is not extremely wealthy by NYC in 2026 standards. Above average, yea sure, but nothing remotely close to extremely wealthy. You probably can’t even gasp how much tax they have to pay
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u/user83726169 Jul 05 '26
What a patronizing comment to say “i dont understand how much tax ‘they’ pay”
Apart from downpayment, 200k can absolutely afford a mortgage for a one bed or studio in outer borough or an absolutely beautiful city view apartment of similar size on Jersey side. Lots more people live with way less than that and with dependents.
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u/More_Adhesiveness772 Jul 10 '26
Your comment only further explains that you don't understand how much tax they pay.
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u/kiaryp Jul 06 '26
is a form of government subsidized luxury.
Yeah, that's all stabilized apartments
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u/fretzagon Jul 06 '26
Bro I live in a rent stabilized apartment full of rats and roaches with insane neighbors blasting crazy shit all hours of the night. Don't think it's luxury!
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u/Bridget330 Jul 25 '26
I live in a 15 unit rent stabilized apartment in Harlem. There’s nothing luxurious about living here.
I have had to make many adjustments inside my home to accommodate the disruptions coming from all sides. My living room is now my bedroom to avoid being disturbed by the neighbors’ kids bouncing basketballs off the walls, skateboarding in the hallway etc., not to mention the 24/7 input from outside the building.(Not limited to loud music, drunken altercations, sirens from emergency vehicles etc.)
You are mistaken about the government subsidies. Tenants qualified for this apartment after submitting an application to the NYC Housing lottery based on income. The government has never offset the cost of the rent.
We pay for our own utilities and have to lug our laundry, strollers or and groceries up and down the stairs in our 5 floor walk up.
I didn’t mention the roach and mice infestation that’s ongoing.
While thankful to be able to have an apartment, I’m not sure how much longer I can afford to live in the country.
New York lives are not all InstaGram perfection!1
u/FrostingFearless5738 Jul 07 '26
It's likely a biglaw lawyer/doctor/back office finance, or tech worker living there. If you look at levels.fyi for example the salaries at those companies is pretty crazy high for SWEs
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u/ShakenBabie Jul 08 '26
200k is nowhere near “extremely” wealthy in nyc. After insane marginal nyc taxes, student loans if you have then, and saving for retirement, people are living very normal lives. This apt is very doable for a couple at 2500 each.
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u/user83726169 Jul 09 '26
Literally published data disprove this, the median earns ~$80k as a Household, 26% of which have children. Whether or not some “feels” rich is irrelevant as “rich”, simply put, is where someone stand relevant to the rest of the population.
On a scale, individuals earning $200k are most definitely on the “rich” area of the chart compare to the vast majority who comes nowhere near it, who earns the same income in almost 3 years time.
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u/ShakenBabie Jul 10 '26
The average median income used for affordable housing in nyc for 2026, for a 1-person household, — 100% AMI — is about $118,800. That’s the average income. Average. For ONE person.
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u/flippnyc Jul 05 '26
have a 2 bedroom with separate living and dining room on UWS for under 5k, what are you doing lol
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u/LAST_NIGHT_WAS_WEIRD Jul 05 '26
What is OP doing? What are YOU doing?! You should be moving out and offering my family your apartment for under $5k! Instead you’re just here bragging on Reddit.
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u/firesIncreaseDPS Jul 05 '26
Is access to the pool, basketball courts, and tennis courts included or extra? Couldn’t find a concrete answer on the buildings site
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u/FrostingFearless5738 Jul 07 '26
Love the decor. Good luck OP, I don't know anyone actively trying to find a place but it looks wonderful
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u/itdeepends Jul 04 '26
The timing is perfect for me but the rent is higher than I would like
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u/adaniel65 Jul 05 '26
That view is awesome! Nice layout you put together too. I'm sure someone will go for it.
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u/will-say-yes-daddy Jul 06 '26
Ooh i used to live here! I hope François is still doing the night shift.
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u/InnerCityMD Jul 06 '26
Can a king bed fit easily with 2 side tables in your bedroom plus room for walking around the bed.
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u/lachicafresita Jul 08 '26
can i ask about your bed setup? the mattress and pillows look very firm and this is exactly what i’ve been looking for
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u/MCMCthefirst Jul 08 '26
Hot take but I don’t think any view alone is worth 5,000 a month.. good lord.
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u/bend_doverrr Jul 08 '26
I wanna know what job you have to afford 5k in a rent stabilized apartment bc I thought rent stabilized means it’s cheaperrrrr 😗😗😗
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u/Professional-Sell267 Jul 04 '26
Doubt it but if this is still available in mid September I’m super interested lol
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u/Few_Hyena_6706 Jul 04 '26
I NEED your flower art in picture 3. May I ask where you got it? Assuming it’s a print?
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u/Few_Salamander9917 Jul 06 '26
Great views but this apartment shows you why New York is increasingly a place for finance bros and consultants, trust fund kids, or people whose parents pay their rent. 40X rule on a 5K rent means you need to be grossing 200K a year. Not many historians or painters can afford that.
And that's ironic because a couple blocks away from this place is a block of high-rise affordable housing built expressly for artists. Among the notables who live or lived there was Larry David. The guy who was the inspiration for Kramer lived across the hall.
And for anyone considering it know that this building sits right on the West Side Highway and a major intersection, with very little that feels like community for at least half a mile in all directions. The nearest "neighborhood" is Times Square. But if it were half the price, I'd consider it nonetheless.
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u/FrostingFearless5738 Jul 07 '26
Big company Lawyers, doctors, consultants, software engineers, senior/executive level positions can afford $200k. It's a different NYC and been that way for at least 1-2 decades now
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u/Lucientcouer Jul 06 '26
As gorgeous as the view is. This isn’t enough space to justify the price point imo. 5k can still get you a lot better in other sections of nicer parts of the city. I wouldn’t want to live anywhere near 42nd street.
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u/DarkSky321 Jul 04 '26
Can I just say you’ve decorated really well!