Apartment Rentals in New York City – what you need to know.
Posts under The Market Category
Effective rents in New York City, the most competitive apartment rental market in the country, rose 0.9 percentage points to $2,667 per month in the first three months of the year after falling 2.9% last year.
Because of a $45 million deficit, the New York City Housing Authority may have to revoke rental-assistance vouchers from up to 10,500 low-income tenants, an unprecedented move that could cause families to lose their apartments. Izolda Mandelblat and her husband Moisey Frenkel, immigrants from Ukraine, had been on a Section 8 waiting list for 13 years. Their benefits finally started…
It certainly looks like we turned the corner this time around, one quarter sooner than I expected,\” said Victor Calanog, Reis director of research.
Moreover, net absorption — apartments rented after discounting those vacated — surged by 20,424 units in the first quarter, Reis said. It was the largest net positive jump in occupied stock in the first quarter on record in 10 years, Reis said.
I think the broker says it because they run so many bait and switch ads. No, really. Trust us. We actually have have this apartment! The headline says it all.
Recent Los Angeles transplant Gabe Nies talks about raw, soul food restaurants, his fun building and the music on the streets of Harlem.
NYC Renters have been having a good run the past year or so. But the party may be drawing to a close. The evidence, New York City apartment operators are gearing up to build new rental units.
Landlords who screen would-be renters for past appearances in Housing Court will have to disclose the information to applicants under a new law expected to pass the City Council.
Plenty on new luxury rentals about about to open for rental in Manhattan\’s Hudson Yards are, downtown Brooklyn, and Williamsburg.
This chart shows how rents have fallen over the past two years, but are beginning to firm up now.
By John Gittelsohn Jan. 14 (Bloomberg) — Manhattan apartment rents dropped 9.4 percent in the fourth quarter of 2009 from a year earlier as Wall Street jobs vanished in the recession. The median rent fell for all apartment sizes except two- bedrooms, which were little changed, according to a report today by broker Prudential Douglas Elliman Real Estate and appraiser…
Thousands of Lower Manhattan apartments could become rent-stabilized based on a recent court decision. On Dec. 23, Housing Court Judge Bruce Scheckowitz ruled that a market-rate apartment in 37 Wall St. should be rent-stabilized because the building’s owner is receiving a 421-g tax break. In an echo of the Stuyvesant Town case from earlier last year, the owner of 37…
Let\’s skip most of the news report. We\’re only really interested in the NYC marketplace. Here\’s what the Reuter\’s article had to say about NYC: Higher priced rental properties in Manhattan drove the vacancy decline, while apartment buildings in more middle-class boroughs such as the Bronx, Brooklyn and Queens haven\’t been able to dodge the bullet. On average, close to…
You bet they did. This is from Bloomberg.com: Manhattan Apartment Rents Fell 7% on Unemployment Dec. 22 (Bloomberg) — Manhattan rents fell as much as 7 percent in the year ended Dec. 15 as the recession helped some tenants move up to larger apartments for less. Rents for studio apartments dropped 7 percent to an average of $2,247 a month…