NYC apartments now more affordable

Apartment rental prices have dropped about 30 percent and incentives are there to be had, Daniel Hedaya, director of leasing at Platinum Properties, told CBS 2. At one building in the Financial District, a two-bedroom, two-bathroom unit that was going for $4,300 per month last year is now renting for $3,300 per month. Concessions include one to three months’ free rent and no broker fees or security deposits for qualified tenants. These opportunities may not come again for 15 or 20 years, added Jason Sheftell, a real estate reporter for the Daily News.