Renters Poised to Lose Upper Hand
Wednesday, March 3rd, 2010NYC 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.
2010: The Year of the Renter?
Saturday, January 23rd, 2010Plenty on new luxury rentals about about to open for rental in Manhattan’s Hudson Yards are, downtown Brooklyn, and Williamsburg.
This Chart Tell The Story of Falling Rents
Friday, January 15th, 2010This chart shows how rents have fallen over the past two years, but are beginning to firm up now.
Manhattan Apartment Rents Drop 9.4% as City Job Losses Mount
Thursday, January 14th, 2010By 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 [...]
5,000 Financial District apartments could be eligible for rent regulation
Thursday, January 7th, 2010Thousands 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, [...]
U.S. apartment vacancy rate hits 30-year high
Thursday, January 7th, 2010Let’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 [...]