The Real Deal New York

Rentals in demand: Studio searches fall 50 percent

January 08, 2014 02:10PM

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Rentals-in-demandThe East Village was the most in-demand Manhattan neighborhood of the last week. It joined the Upper West Side, Gramercy Park, Greenwich Village and Murray Hill in knocking front-runner the Upper East Side out of the top five for at least a seven-day stretch, according to Zumper, an apartment listings website.

One-bedroom apartments carried the torch with 35 percent of the total market share and a median inquiry of $2,038. Three-bedrooms had 30 percent of the market and a median query of $2,995. In third place, studios had a still-respectable 25 percent and a median query of $1,995.

Two-bedrooms were largely forgotten, with the remaining 10 percent and a $2,450 median.

“Searches for studios dropped by 50 percent, whereas three-bedroom searches increased as a group of affordably priced units opened up in Nolita, Little Italy and Hell’s Kitchen,” Zumper COO Taylor Glass-Moore told The Real Deal.

Methodology: Zumper determined the rankings by using a representative sample of emails and phone calls from renters interested in its Manhattan listings available for the week ending Jan. 5.Mark Maurer

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