The Real Deal New York

Posts Tagged ‘manhattan rents’

  • Median rents for one-bedroom apartments (credit: Zumper)

    Median rents for one-bedroom apartments (credit: Zumper)

    Apartment listing service Zumper has a new map laying out median rents for one-bedrooms in the city by neighborhood. And guess what? They’re really, really high. [more]

  • douglas elliman report

    Rental apartments priced near their borough’s median. From top left: 878 West End Avenue on the Upper West Side, 66 Rockwell Place in Fort Greene, 1 North 4th Place in Williamsburg and 67 East 2nd Street in the East Village

    Here’s to a generous holiday bonus this year! Manhattan’s median rental price jumped another 4.5 percent in October, to $3,391 – achieving a nearly two-year streak of steadily rising prices.

    With price gains over 21 consecutive months, the number of new rentals slipped 0.4 percent to 3,469, according to Douglas Elliman’s monthly rental report. Manhattan’s vacancy rate increased to 2.34 percent from 1.96 percent last year. [more]

  • 1930 Broadway

    1930 Broadway in Lincoln Square

    People may be flocking to Brooklyn, but Manhattan still reigns supreme when it comes to living in luxury.

    Comparing rental buildings with amenities developed since 2000 in Manhattan, Brooklyn and Queens, a new report by property management company FirstService Residential found Williamsburg rents were 16 percent below Manhattan levels. Rents in Downtown Brooklyn, meanwhile, lagged 20 percent behind Manhattan. [more]

  • Manhattan from Brooklyn

    A view of Downtown Manhattan from Brooklyn (credit SmartSign/Flickr)

    Manhattanites have to travel further than ever to find a rental deal.

    Median rents in Brooklyn and Queens are steadily closing in on those in Manhattan, especially in neighborhoods just across the East River, according to data from StreetEasy.

    Dumbo is the the fourth most expensive neighborhood in the city, with a median rent of $4,079 a month, higher than that in Soho, Chelsea and the West Village. [more]

  • Brooklyn Nets rookie Rondae Hollis-Jefferson at the 2015 NBA Draft at Barclays Center

    Brooklyn Nets rookie Rondae Hollis-Jefferson at the 2015 NBA Draft at Barclays Center

    Despite earning the highest paycheck of his life this year, Brooklyn Nets rookie Rondae Hollis-Jefferson is managing his money wisely. [more]

  • manhattan from brooklyn

    Downtown Manhattan viewed from Brooklyn (credit SmartSign/Flickr)

    Brooklyn’s median rental price topped $3,000 in August – a new record, and don’t expect it to taper off any time soon.

    According to Douglas Elliman’s monthly rental report, the borough’s median rental price jumped 10.8 percent year over year to $3,112. At the same time, the average rental price rose 7.8 percent to $3,421 – another record. Listing inventory slipped 2.4 percent to 1,753.

    “There’s no real relief in sight,” said Jonathan Miller, founder of real estate appraisal firm Miller Samuel and author of the report. “What’s driving this isn’t likely to change in the immediate future, such as tight credit, record employment growth and a robust New York City economy.” [more]

  • MillerSamuelchart

    Douglas Elliman’s July rental market report

    Median rental prices rose across Manhattan, Brooklyn and Queens last month, while in Brooklyn, rental prices set a new record, according to Douglas Elliman’s latest monthly rental report. [more]

  • Washington Street in Dumbo

    Washington Street in Dumbo

    While Manhattan rents are still the highest in the city, housing costs in Brooklyn’s trendiest areas are growing at considerably faster rate, according to recently released data.

    The data, from tech-based startup brokerage TripleMint, compared rent prices in similar Manhattan and Brooklyn neighborhoods that many renters find themselves deciding between. [more]

  • Manhattan office effective rents

    Average effective rents by Manhattan office market (credit: CompStak)

    The Midtown office market performed strongly in the first quarter of 2015, with effective rents for Class A space increasing 5.1 percent from the previous quarter while Midtown South effective rents dropped after three consecutive quarters of growth. [more]

  • (Credit: StreetEasy)

    (Credit: StreetEasy)

    Moving to Brooklyn is no longer the go-to cheaper housing option for New Yorkers. According to a report from StreetEasy, the price gap between the two boroughs is growing smaller, and some Brooklyn neighborhoods are already topping Manhattan sales levels.

    StreetEasy, looking at median sale and rent prices in all of Brooklyn’s 49 neighborhoods to Manhattan’s median prices over the last five years, found that 28 of the borough’s 49 neighborhoods outpaced Manhattan’s five-year growth in sales price. [more]

  • 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]

  • 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]

  • 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]

  • 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]

  • 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]

  • 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]

  • 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]

  • 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]

  • 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]

  • 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]