A decision with numbers
Rent or Sell Your NYC Apartment?
Put a realistic rent and a realistic sale price side by side, then look at what each path really costs and allows.
Start with your plan, not the market
Most owners who hesitate are weighing four things: income now, flexibility later, the work involved and their tax situation. The comparison is useful only if it starts from your horizon. Do you expect to come back to New York, to need the capital, or to keep the apartment for the long term?
What the comparison covers
| Topic | Renting | Selling |
|---|---|---|
| Price | Realistic rent from comparable leases, and the concessions the market expects | Realistic sale price from comparable sales and competing listings |
| Costs | Common charges or maintenance, taxes, insurance, repairs, brokerage fee paid by the owner, periods of vacancy | Transfer taxes, closing costs, brokerage commission, carrying costs until closing |
| Building | Leasing rules, board approval, sublet limits or fees | Board approval of the buyer (co-ops), condo right of first refusal |
| Timing | Lease term and renewals; selling later with a tenant in place | Market timing; vacant or occupied sale |
| Flexibility | You keep the asset but give up use of the apartment during the lease | You free the capital but leave the New York market |
Taxes on rental income and on a sale depend on your personal situation, especially if you live outside the United States. Raphael recommends checking them with a tax professional; the comparison he prepares covers the real estate side.
Renting now and selling later
A lease is a commitment: a buyer may have to take the apartment with the tenant in place, and some buyers, especially those who want to live in it, will not. If a sale within a year or two is likely, the lease term and the clauses you accept matter. Raphael can help you choose a structure that keeps the most sensible options open.
How to start
Send the address, the apartment number if you have it, and choose “Compare renting and selling” in the form. Raphael will prepare a rent range and a sale range and go through them with you.