The Real Deal New York

Posts Tagged ‘manhattan rents’

  • Median monthly rents in Manhattan and Brooklyn from Jan. 2008 to June 2014

    Median monthly rents in Manhattan and Brooklyn from Jan. 2008 to June 2014

    Brooklyn rental prices may be rising, but they’re not a shoo-in to catch up with Manhattan just yet. [more]

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  • 154 East 23rd Street

    154 East 23rd Street

    WEEKENDEDITION With technology firms eating up space in older loft-like buildings at a rapid rate, rents in formerly affordable office spaces have been going up, making it difficult for nonprofits and arts organizations to find affordable deals.

    In the first quarter of 2014, Manhattan commercial rents rose 7 percent from the corresponding period five years ago, according to Cushman & Wakefield. Meanwhile, rents in Midtown South rose up 29 percent within the same period. [more]

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  • From left, Jonathan Miller, Plymouth Street in Dumbo

    From left, Jonathan Miller, Plymouth Street in Dumbo

    The median monthly rent in north and northwest Brooklyn rose to $2,900 in March, more than 13% higher than it was last year, 26% higher than it was the year prior and roughly 35% above what it was back in 2008.

    According to estimates by Miller Samuel Inc. and Douglas Elliman Real Estate, Brooklyn rents are closing in on those of Manhattan’s. [more]

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  • Dhaka rents eclipse Manhattan’s

    April 13, 2014 11:00AM
    Dhaka, which houses an estimated 15 million people

    Dhaka, which houses an estimated 15 million people

    Despite being slum-ridden and overcrowded, Bangladesh’s capital Dhaka not only rivals the real estate prices of Manhattan—it eclipses them more than fourfold. [more]

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  • A rental heat map showing clusters of cities with varying return rates.

    Rental heat map showing rental return rates

    Landlords may not get much sympathy from New York City tenants as rental rates continue their rapid ascent, but they might snag a sympathetic ear from landlords in other U.S. cities.

    Manhattan’s New York County is the least profitable market for landlords of all U.S. counties, according to new data from RealtyTrac. [more]

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  • A screenshot of the Brooklyn Heat Map

    A screenshot of the Brooklyn Heat Map

    Renters are looking for cheaper digs in Brooklyn using an online tool in the form of a colorful map that shows where to find the most and least expensive apartments. [more]

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  • Manhattan median sales and rental prices (Credit: Curbed)

    Manhattan median sales and rental prices (Credit: Curbed)

    Manhattan rents, ever-skyward though they climb, are far less volatile than sale prices in the borough, according to Jonathan Miller, CEO of appraisal firm Miller Samuel. [more]

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  • MNS rental report September 2013

    MNS rental report September 2013

    Rents in Manhattan may have finally hit a plateau in September, as a spring spike in mortgage rates shunted some renters into the sales market and the vacancy rate edged up to the second-highest level in three years, according to a monthly Douglas Elliman rental market report released today.

    The median rent in the borough slipped 3.1 percent year-over-year to $3,095 per month, the first such decline since June 2011, while the average rental price per square foot dropped 2.6 percent year-over-year to $51.25. The number of new rental listings jumped 35.9 percent year-over-year, demonstrating that tenants continue to resist rising rents when their leases are up, choosing to move instead, and leaving apartments that hit the market, according to Miller Samuel CEO Jonathan Miller, who authored the report. [more]

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  • Up-Arrow-Money-Chart

    New York City rents jumped in the third quarter to $3,049 per month, up 0.9 percent from last quarter and up two percent year-over-year, according to a report from real estate research firm Reis. The city’s rents – the data excludes Staten Island — dwarf the national average, which is $1,073, and is the only national market tracked by the report that has rents north of the $3,000 mark. [more]

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  • MNS rental report August 2013

    MNS rental report August 2013

    Average rents in Manhattan increased 1.36 percent in August, or $51.90 per month, compared to July, according to data from the latest MNS monthly rental market report.

    Studio apartments — where average rents increased 3.64 percent month-over-month — and one-bedrooms — which saw  average rents jump 1.56 percent month-over-month — drove the upward growth, while two-bedrooms stayed relatively stable, nudging up 0.11 percent, the data show. [more]

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  • Subway Tracks

    Subway Tracks

    “Numbers to know” is a weekly web feature that catalogues the most notable, quirky and surprising real estate statistics. State Senator Daniel Squadron and others protest weekend work on the L train, Downtown rents are the most expensive and hundreds of Manhattan units increased its prices last quarter. [more]

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  • February rental market figures (Courtesy: Miller Samuel)

    After four consecutive months of modest rental growth, Manhattan rents are accelerating again, according to a monthly rental market report released today by Douglas Elliman. The average monthly rent for a Manhattan apartment in February was $3,956 — a 4.3 percent increase from January and a 4.9 percent year-over-year increase, the report shows. [more]

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  • Nancy Packes

    Despite significant job growth in New York City over the last year, rents have declined in the last few months. A new study claims that the relatively stagnant rents are the result of new tenants’ professions: many have jobs as artists, designers or workers in the city’s growing technology sector, rather than in the high-paying field of finance that has traditionally driven the rental market, the Wall Street Journal reported. [more]

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  • Average rents in Manhattan (courtesy: Citi Habitats)

    The Manhattan rental market continues to display a “strange dichotomy,” as Douglas Elliman’s director of rentals Mark Menendez put it, with rents unseasonably strong at the high end, and both renters and landlords believing they can do better in other market segments. In December, the median rent for a Manhattan apartment rose 0.8 percent year-over-year, to $3,150 from $3,125 per month, according to Douglas Elliman’s December rental report, released today. [more]

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  • NYC rental buildings

    The high demand for rentals following the recession has driven New York City rents steadily upward over the last several years, but there are now signs that the trend could be slowing down, according to the New York Times. Rents in Manhattan dropped to an average price of $3,368 in November, $76 less than in October. Rental prices have now dropped for three consecutive months, albeit the rental market is always softer in winter months, according to Citi Habitats data cited by the Times. And year-over-year, median rents are only 1.5 percent higher, compared to the 10 percent increase in rents posted two years ago and the 15 percent of three years ago. Inventory has also grown, with 13,618 Manhattan apartments for rent in November, a 21 percent increase over November 2011, according to Streeteasy data cited by the Times. … [more]

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  • Average rents by neighborhood, per Citi Habitats

    Sky-high rents in Manhattan and Brooklyn are meeting continued resistance, as the pace of median rent increases slows and an increasing number of renters are choosing to move instead of renewing their leases, reports on November’s rental market show.

    In Manhattan, rents, which reached a median of $3,195 in the borough last month, were propelling renters to the sales market, said Jonathan Miller, president of the real estate appraisal and consulting firm Miller Samuel and author of Douglas Elliman’s November rental report. [more]

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  • Office market chugs along

    December 04, 2012 04:30PM

    From the December issue: In a weird twist, Hurricane Sandy made no measurable impact on November’s office leasing numbers. That’s despite the storm rendering nearly 20 million square feet of office space unusable as of late last month.

    Just after the storm hit, brokers worked feverishly to find alternate spaces for their clients, unsure how long they would be out of their offices. But instead of signing new leases, many large companies moved to their firm’s own satellite offices, used spaces borrowed from friendly business associates or clients — or had employees work remotely. [more]

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  • Manhattan

    Record-low mortgage rates conspired with high rental prices to push additional tenants out of the market in October, as more and more renters looked to purchase homes, real estate executives told The Real Deal.

    Overall vacancy in Manhattan was up to 1.39 percent – the highest it has been since February 2010, according to the October rental market report released today by residential brokerage Citi Habitats. Meanwhile, activity was relatively stagnant, with new rental activity increasing a mere 1.2 percent year-over-year, according to figures from brokerage Prudential Douglas Elliman’s report for the same period. [more]

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  • Real estate attorney Adam Leitman Bailey and Le Rivage (Le Rivage image c/o CityRealty)

    In the wake of Hurricane Sandy, several of the city’s largest residential landlords have announced that they are providing comprehensive rent abatements to tenants who lost power or water during the storm.

    Both tenants of luxury and more affordable housing may see some relief. Rose Associates, owner of high-end rental properties such as Le Rivage and the Chelsea Landmark, said it will issue abatements for residents of Rose-owned buildings which were under evacuation orders, as well as to those who lost power or water as a result of the storm. Meanwhile, CW Capital, the owner of the East Village’s Stuyvesant Town and Peter Cooper Village, will do the same. At 2 Gold street, the Financial District building recently deemed uninhabitable, landlord TF Cornerstone has waived November rents. [more]

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  • Central Park’s West Side

    Who can afford to live in Manhattan — where the average apartment rented for $3,453 in September?

    Lots of people actually, since Manhattan’s average weekly wage is more than $2,600 (though that still may not be enough income to show your landlord that you earn 40 times the monthly rent a year). Outside of Manhattan, the average weekly wage drops to less than $900. [more]

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