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fter moving to the US from India in 1998, Vidya Jayaraman and Jay Krishnamoorthy settled in various cities, including Connecticut, New Jersey, and Atlanta, where they raised their daughter in a suburban neighborhood. Now empty nesters, they yearned for city life, drawn by its diverse offerings. Their daughter, Rithika, attends Stony Brook University on Long Island, and the couple visits frequently, with Ms. Jayaraman wanting to stay close to her child as she navigates adulthood.
The couple decided to buy a second home in New York City rather than constantly rent hotels. They began searching for a small place, ideally a studio or one-bedroom co-op, within their budget of $600,000. Focusing on the East Side, they were drawn to Midtown East's vibrant nightlife and proximity to the Grand Central Madison terminal.
After viewing several units, Mr. Krishnamoorthy suggested exploring studios, which offered similar square footage at lower monthly maintenance costs. They discovered alcove studios, where a sleeping nook could be created in the alcove, seemed like an ideal solution. However, navigating the Manhattan market proved challenging due to high down payments, uncertain negotiation possibilities, and complex co-op rules.
The couple encountered difficulties finding an agent with whom they had a rapport, leading them to hunt for properties on their own. Exhaustion eventually took over, and they considered settling for a less-than-ideal place or giving up altogether.
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