New York

How does symbiosis survive a pandemic?

For communal residents, the price per square foot of bedroom is often higher than the price paid by a neighbor in a traditional building. Nevins pays $ 1,485 a month and has three roommates in a seven-bedroom unit with monthly rents over $ 8,800. According to StreetEasy, the median monthly rent for three or more bedrooms in Williamsburg is $ 3,600. In East Village, Street Easy offers apartments with three or more bedrooms for a median rent of $ 4,400. However, Hurtado-Burgos’ four-bedroom East Village Bungalow apartment has a total rent of over $ 5,000.

“Symbiosis isn’t always aimed at people who need affordability,” said Nancy Wu, a Street Easy economist. “If you’re considering a one-year rental contract, there are plenty of opportunities to find a cheap apartment with a couple of months’ concessions.”

Richard Rustigman, director of communal living at real estate services company JLL, agrees that the prices are so low that there is now growing interest in the traditional rental market. But in the long run, he says, after the pandemic is over, people will be pulled back into a communal property that offers more than just rental rooms.

Some of the amenities that motivated communal tenants to pay premiums are slowly returning. Companies that canceled resident cleaning services at the beginning of the pandemic, or instead provided residents with a weekly “hospitality kit” to clean their space, are now returning professional cleaners to the building. I am.

The first and most elusive amenities offered by communal companies are community amenities. Marketing materials showed young residents making friends and having fun together in a beautiful common area. In the pandemic, communal companies emphasize other aspects of the model, as many of the common areas are closed or restricted and meeting new people poses a health risk.

Despite their social distance, businesses and residents have found a new pandemic-friendly way to build connections within the building. Marcy Snyder, a 22-year-old New York University student enrolling in medical school while taking her final class online, recently had a picnic in the park for some of the residents of her common building in Williamsburg. Hosted. Snyder said he knows that many people with three-month leases continue to renew.

How does symbiosis survive a pandemic?

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