Apartment Rentals in New York City – what you need to know.
Posts Tagged ‘market condition ’
Lower Manhattan is one of the city’s fastest-growing neighborhoods. The Alliance estimated that 55,000 people live south of Chambers Street, compared to 44,000 in 2007.
The rent laws are due to expire in 2011, and the governor wants to make changes and extend them for eight years. The changes would reduce the rate for deregulating apartments, give tenants more protections
An online survey found that 76 percent of consumers said they prefer to rent a home rather than own it, a 5 year-over-year percent increase from 2008.
Vacancy rates at rental apartments in Manhattan continued to decline in April, encouraging landlords to begin pulling back on tenant concessions.
Wakefield, the Bronx neighborhood around the 241st Street stop and one of the northernmost places in the city, shares more than a little suburban character with its neighbor across the border.
With thousands of new housing units, and thousands more coming, Long Island City has finally arrived – with all the perks and amenities that New York renters look for.
The frenzy for Manhattan rentals is making a comeback, a sign of a rebound in the nation\’s largest and most complex leasing market.
Apartment rentals in Brooklyn and Queens are starting to move up in price again.
First, little by little and now much more quickly, Harlem has become a magnet for young, hip New Yorkers looking for a great rental.
Crime has dropped to new lows and apartments are being renovated everywhere you look. There is a new Harlem Renaissance underway. Do a free search of Harlem apartment rental listings by clicking here.
Another sign that the residential market is stabilizing, vacancy rates at apartment buildings in Brooklyn are expected to rise only modestly this year following a significant increase last year and a large number of new units hitting the market, according to a recently released report.
Folks, we are getting very close to a state of equilibrium in the rental market, the place where rental demand comes close to matching existing vacancies. I\’m not a statistician, so I don\’t have hard numbers to prove it, but we here at RDNY.com are beginning to see the number of available listings decline while the number of new potential renters is climbing. We are beginning to see landlords raising rents cautiously and we are beginning to see renters looking at their backup neighborhoods.
Sure we have those high priced apartments. But we have plenty of other Manhattan rental apartments that rent for a lot less too. Perfectly good apartments.
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.
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.
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.
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…