A woman who has owned her home in Manhattan for more than 20 years says she plans to move out of the building this year and get into a more traditional rental apartment.
Jessica Koehler said she hopes to live in an apartment for $700 a month, which is $150 less than she pays now.
She said she has been told by some landlords that they are no longer accepting new applications for condos.
But Koehl said she’s already signed a lease on her current apartment.
She said she is not going to live with her husband, who has been living with his parents in a nearby apartment, because he doesn’t want to raise his children alone.
She’s been living in a room in her new home with three other people for the past six months.
Her roommate has a pet.
Koehls parents live nearby.
She plans to use the new apartment for her two cats.
Koehler’s husband has been with her for more the past decade.
They have four cats.
They say they’re happy with their apartment, which Koehs mom says is nice.
Kroehler said it’s hard to see how people can live in New Jersey without a condo.
It costs $1,100 a month to rent an apartment.
A study last year by the real estate firm Real Capital Analytics found that the average condo lease in New England is $1.2 million.
New York rents for $1 million a month.
A spokeswoman for the New Jersey Department of Financial Services said there are no plans to revoke or reduce the condo lease on a property if the applicant has not signed the lease in the past.
“If you have a lease with a lease renewal, you can renew it and the landlord can revoke it,” said spokeswoman Kelly Stegman.
She did not immediately respond to a request for comment.