Apartment Rentals in New York City – what you need to know.
Posts under The Market Category
Oouch! What happened to the usual winter lull? The time when inventory swells and rents go down? Not this year! The mild weather makes searching for an apartment reasonable if not quite enjoyable.
Now, imagine having to pay a broker’s fee on top of these high rents. A broker’s fee in Manhattan is typically 15% of the first year’s rent. Not the first month’s rent, the first year’s rent!
Rents rose in Manhattan between 6.2%, as reported by Citi Habitats, and 9.5%, as reported by appraisal firm Miller Samuels and Prudential Douglas Elliman. Exact increases are very hard to pin down, but
The details are always a little different, but the substance of the story is always the same; young and new to the city, the victim uses craigslist to find an apartment for rent. It’s free, so it’s a bargain, right?
$3,315 as an average rent? They must be renting to a different group of people. Of course there are many who can afford that price, but we work with hundreds of renters all the time, and I can tell you that the average, typical renter in Manhattan is paying less than that. I don’t know exactly what the average renter is paying, but I’m certain it’s less.
Manhattan rental market strengthens – A personal perspective: Over here at RDNY.com, we’ve seen the market get tighter and tighter throughout the summer. We’ve seen week after week of price increases. The statistics may show overall rental prices up by 7%, but in reality, it’s more than that.
A recent report shows a narrowing gap over the last two years between what people pay to live in a doorman building compared to a non doormen building. In the past year, the premium paid for the doormen building has fallen approximately 36% for studios
Rent Direct is a compromise between paying a broker fee or spending hours wading through junk craigslist posts. I think it’s a pretty good deal: you can see all of their listings for free, without addresses. If you want the addresses, you pay a fixed amount…
Bloomberg quotes Citi Habitats as saying that rents increased 9% in July from a year ago in July. “landlords tested how high they could push prices amid few vacancies.”.
Architect Luke Clark Tyler is paying $800 a month for a 78-square-foot studio in Hell’s Kitchen, Refinery29 reported, and might be setting a new record for New York’s smallest apartment.
Many New Yorkers looking for a real-estate deal may reflexively scratch Manhattan off their list. Well, think again. Maybe you can take Manhattan.
Even as New Yorkers exit city en masse for vacations, residential leasing approaches boom-time highs August 01, 2011 07:00AM By Candace Taylor in TheRealDeal.com New Yorkers are fleeing the city in the scorching summer heat, trading subway cars for the Hamptons Jitney and business casual for bathing suits. Even so, the residential rental market is as sizzling-hot as the temperature,…
The dog days of summer are back for apartment renters. The Manhattan vacancy rate in May fell to 0.7%, its lowest level in nearly five years, according to broker Citi Habitats. Landlord concessions, such as a free month’s rent for signing a new lease, have dried up. Average Manhattan rental prices are just a hair below their 2007 peaks.
White-collar job growth in Manhattan will spur demand for market-rate apartments in the city this year and push rents to record highs
Renting an apartment in Manhattan is getting harder, says a new report. Rents are up, landlords are not offering concessions and the vacancy rate remains low.
What it comes down to is that few apartments outside of Manhattan get de-stabilized, and fewer and fewer apartments in Manhattan remain stabilized. Do Manhattan developers really need the 421a tax abatements to make money on their projects? If they are getting a public subsidy, shouldn\’t the developers be forced to give something back to the city as well?
Renting an apartment in Manhattan is costing more. The biggest gains were studios in doorman buildings, up 10.3%. The average rent is up 8% from last year.
2009 and 2010 were the exceptions. With businesses not hiring, the thousands of recent graduates that flock to the city every summer in pursuit of jobs, careers and a new apartment never materialized. The early signs of 2011 show a distinct turn-around.
This winter, apartments are renting exceptionally fast in Manhattan. There are several reasons for this, but it all ads up to higher rents and few rental incentives.
In contrast to the boxy towers clad in murky glass that have defaced New York\’s skyline, Gehry has produced a gawky beauty that captures the energy of the city.
Manhattan renters have fewer apartments to choose from these days. In another sign the rental market is starting to tighten up there were 26% fewer vacant apartments on the market last month than during the same period last year.
When completed, the project, known as Hunter\’s Point South, will be the city\’s largest affordable housing complex since the 1970s
New York City takes top honors for being more affordable to rent than buy. According to Trulia, the median list price (for the top 50 cities) is $140,201.37, but the median price for a 2-bedroom apartment in NYC is $1.3-1.4 million!
“Concessions are not dominating anymore,” said Jonathan Miller, chief executive of Miller Samuel. “In 2009, the typical concession for a large portion of new rentals was two to three months of free rent.”
The good times are over for Manhattan renters. The power has shifted back to landlords, sending rents up and concessions down during the last three months of 2010.
The Manhattan residential rental market rebounded last year, and at a faster clip than many had anticipated, according to a new report.
How\’d you like to pay just over a thousand bucks a month for a place on the Upper East Side—for your car? Yep, the four-figure parking spot has arrived, as of last week
Bargains are drying up for Manhattan apartment renters – reflective of a broader trend in the other four boroughs as well.