Renters upgrading apartments for less

March 30, 2009 08:41AM

As rents fall in the city and landlords throw in incentives like free
rent, some renters are looking for deals and moving to nicer apartments
without big price increases. Paying just $15 more per month in rent, one couple
recently moved from a studio to a one-bedroom with a fireplace in the
East Village. And a woman moved out of her Midtown studio when her
landlord wouldn’t lower her rent to a one-bedroom on the Lower East
Side, and now pays $100 less per month than her studio’s rent. “No one’s willing
to pay more now, because there’s always another deal next door or down
the block,” said Georgia Kaporis, an associate broker at Citi Habitats.
“They’re just upgrading for less.” The Real Deal looked at the rental market in its February issue.


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