One, two-bedroom rents up in April

TRD New York /
Apr.April 23, 2008 02:32 PM

Average rents for one- and two-bedroom apartments in Manhattan rose in
April from the month before, according to a report by the Real Estate
Group New York. The increase is indicative of the market’s spring
rebound, and may temporarily allay some landlord fears that
problems in the financial services industry will cause the rental market to
tank. At the same time, however, average rent for a
studio apartment fell, after a brief uptick in March.

The average rent for a non-doorman one-bedroom was $2,800 per month in
April, up slightly from $2,792 last month. The average rent for a
non-doorman two-bedroom rose to $3,913 per month this month, from
$3,858 per month in March.

At the same time, the average studio rent for non-doorman buildings
declined slightly to $2,037 per month in April 2008, from $2,059 per
month the month before.

The changes in average rent in April were similar for units in doorman
buildings.

The market report surveys over 10,000 listings south of 155th Street,
excluding properties over $10,000 per month which would skew the
average.

Compared to a year prior, apartment rents in non-doorman buildings
climbed 2.3 percent for studios, 4.1 percent for one-bedrooms and 3.5
percent for two-bedrooms.


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Hudson Yards megadevelopment inspires a new line of sex toys
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
Shawn Mobley (left), is being replaced by Andrew McDonald (right) as CEO of the Americas at Cushman

Shakeup at Cushman: Mobley out, McDonald promoted

Shakeup at Cushman: Mobley out, McDonald promoted
1118 Grand Concourse in the Bronx (Google Maps, iStock)

Landlords can now file evictions, but proceedings remain on hold

Landlords can now file evictions, but proceedings remain on hold
4 Times Square (Google Maps, TikTok)

What happens if Trump banishes TikTok, savior of NYC’s office market?

What happens if Trump banishes TikTok, savior of NYC’s office market?
(iStock)

Pandemic slammed brakes on nearly half of would-be homebuyers: Survey

Pandemic slammed brakes on nearly half of would-be homebuyers: Survey
(iStock)

To survive, NYC retailers are treating average Joe’s like they’re rich

To survive, NYC retailers are treating average Joe’s like they’re rich
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...