The Real Deal New York

Posts Tagged ‘rental market’

  • 058 Fake buyers-renters se FINAL.indd

    From the April issue: David Picket admits he is no social scientist or raconteur, but the president of Gotham Organization and his team go to great lengths to paint a picture of the future inhabitants of their projects. [more]

  • A look at NYC’s priciest rentals

    March 17, 2014 10:30AM
    The interior of a Trump Park Avenue penthouse

    The interior of a Trump Park Avenue penthouse

    From the March issue: The tight inventory of for-sale residential properties, along with a glut of high-end homes going unused by their owners, is fueling a growing supply of luxury rental units in trophy buildings with prices of $100,000 per month or more. [more]

  • From left:

    Elliman’s Yuval Greenblatt and Andrew Barrocas of MNS

    The traditional winter slowdown and a booming Brooklyn market brought down Manhattan rental prices in February, according brokerage reports.

    The median rent in Manhattan slipped 2.8 percent to $3,100 per month from $3,190 in February, tumbling year-over-year for the sixth consecutive month, a report from Douglas Elliman said. [more]

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  • Smaller cities embrace rental brokers

    February 23, 2014 02:00PM

    RentHop’s Lee Lin

    WEEKENDEDITION As the rental market becomes more competitive across the country, more middle city citizens are hiring brokers to help them hunt down a lease.

    While rental brokers are a mainstay of big cities like New York, Chicago and Los Angeles, brokers told the Los Angeles Times that throughout the country, apartment hunters are increasingly looking for professional help. [more]

  • trulia-rent

    (Credit: Trulia)

    New York City ranks last on a list of U.S. cities with the largest average rental discounts for couples, according to a report from Trulia.

    Trulia used rental listings to determine the cost tradeoff of a couple sharing an apartment rather than living in separate one-bedrooms. Chief economist Jed Kolko’s study compared units in the same apartment building and calculated the average price difference by the number of bedrooms for units in a particular building. [more]

  • New York rents up, credit risk down

    January 27, 2014 05:30PM

    Average rents were up in the U.S. in the third quarter, while credit risk for those renting across the nation was down, according to the latest data from Chicago-based TransUnion Rental Screening Solutions. [more]

  • A snippet of Rentenna's new rental price map

    A snippet of Rentenna’s new rental price map

    From Luxury Listings NYC: The folks at New York City-based rentals site Rentenna have launched a heat map to help Manhattan house hunters this Polar vortex — er, winter — find a new rental home. The map tracks overall trends in pricing from the past 30 days and identifies them with three colors: Red is for areas with high median rents, blue shows where rents are about even with Manhattan overall, while green indicates “where New Yorkers can hope to find rental deals,” according to the site. [more]

  • Half of all renters in the U.S. spend more than 30 percent of their income on housing, according to a study released today from the Joint Center for Housing Studies at Harvard University. [more]

  • Where are the rentals?

    November 07, 2013 10:30AM
    From left:

    From left: Joseph Moinian, Gotham West, Atelier II and Howard Swarzman

    From the November issue: After the 2008 financial crisis, rattled New Yorkers pulled back on home-buying and started writing rent checks in force, while developers leased out condo units rather than selling them. Five years later, the rental market in the city is going strong, but for a different set of reasons. [more]

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  • From left: Lawrence Zhou and Lee Lin

    From left: Lawrence Zhou, Lee Lin

    Apartment search company RentHop has released a new mobile app aimed at rental property managers. The app will allow property managers to broadcast their location in real-time and immediately schedule showings with renters on the prowl for apartments. The app also allows managers to update listings data on-the-fly, the company said. [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]

  • Demand for private island rentals soars

    September 15, 2013 12:00PM

    A private island

    Private islands have long been the ultimate real estate status symbol, but now they are becoming increasingly available, as more uber-wealthy individuals opt to rent out their trophy estates. Part of the reason the super rich are bothering to lease their sceptered isles is simply that demand is soaring, according Farhad Vladi, a private island broker and owner of Vladi Private Islands. [more]

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  • 25-columbus-circle-main

    25 Columbus Circle

    Whether it be a townhouse or a condominium, Manhattan has the priciest rentals in the city. Check out our slideshow of the top 10 most expensive options on the market at the moment. Brown Harris Stevens handled the listings for three of the four priciest rentals, including a $135,000-a-month penthouse condo at the Towers of the Waldorf-Astoria hotel. See the photos after the jump.

  • InventorySqueeze

    New York City’s average rental rate inched past the $3,000 mark for the first time in the second quarter, according to new market data reviewed by the Wall Street Journal.

    Rents in the city – excluding Staten Island – rose 1 percent from the first quarter to $3,017, the highest in the country and nearly $2,000 more than the national average of $1,062, according to data from real estate research firm Reis. [more]

  • Avishai Weiss

    Avishai Weiss

    A new apartment search website is attempting to differentiate itself from competitors by offering users data on litigation associated with properties up for rent. Apartable today launched a building directory feature that provides renters with profiles of nearly 300,000 residential buildings in New York City, company founder Avishai Weiss told The Real Deal.

    The goal is to give renters a sense of the overall market, the players in individual neighborhoods, and “more transparency into who you’re about to sign a lease with,” said Weiss, who previously worked in advertising. [more]

  • Average vacancy rate in Manhattan in May (credit: Citi Habitats)

    Average vacancy rate in Manhattan in May (credit: Citi Habitats)

    Rental season has arrived with a vengeance as Manhattan prices show no sign of easing, while Brooklyn prices, surprisingly, eased slightly after booming since 2010, monthly market reports from residential brokerages released today show.

    The median rental price of a Manhattan apartment in May clocked in at $3,200 a month, a 3.5 percent year-over-year increase from $3,093, a report from Douglas Elliman shows. Across the river in Brooklyn, the median price of an apartment was $2,579, a 3 percent year-over-year decrease from $2,658. [more]

  • Average rents in Manhattan in April (courtesy: Citi Habitats)

    Rents continue to rise in both Manhattan and Brooklyn, according to monthly market reports from leading residential brokerages released today. And the market is only slated to tighten further, real estate executives said. [more]

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  • Renter fatigue?

    February 14, 2013 04:30PM

    From the February issue: There’s been a lot of buzz in the industry lately about the long-hot Manhattan rental market finally taking a breather from its constant rent increases. Indeed, while the rental market is still up about 5 percent year-over-year, it saw a dip in prices between the third and fourth quarters of 2012. This month, The Real Deal talked to rental brokers, firm heads and market analysts to gauge what they’re seeing on the ground and what they make of the recent softening. [more]


  • As the housing market recovers, a demographic shift is keeping multi-family developers on solid ground. According to NBC News, an increase in the number of educated women is driving the U.S. rental market. With 3 million more women than men in college and 4 million more college-educated women than men in the workforce, women are finding it harder to find a compatible mate, leading to the lowest fertility numbers in U.S. history, according to Buck Horne, a housing analyst at Raymond James. (see video after the jump)

  • 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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