Manhattan rents creeping up, but some bargains remain

TRD New York /
Apr.April 28, 2010 03:35 PM
Source: TREGNY

Manhattan rents continued to climb this month, while certain segments of the market became even better bargains, according to an April Manhattan rental market report by the Real Estate Group NY (see the full report below). Across the borough, rents as of mid-April were up 1.10 percent over rents in mid-March, the report says. For those on the hunt for two-bedrooms and who don’t mind foregoing a doorman, rents dropped another 0.36 percent month-over-month and 1.38 percent year-over-year. On the Upper West Side in particular, such units became 6.64 percent cheaper than they were in mid-March, averaging $2,906 — their lowest price in more than a year. Chelsea’s one-bedroom non-doorman apartments are another bargain for renters, with prices down 3.88 percent since last month to $2,675 per month, on average. While “the market will continue to gain ground” on increased activity in the summer months, the report says, “it seems that it may take longer than landlords anticipated to recover their losses.” TRD

Tregny Report


Related Articles

arrow_forward_ios
(Credit: iStock)

The city’s rental growth is slowing

The massive meeting held in a suburban casino outside of Utica came at a time when the real estate industry is asking itself some tough questions. (Credit: iStock)

Meet the 400 landlords that are taking rent laws into their own hands

Olivia Gamber, the farmer-in-residence at Staten Island Urby’s Rabbit Garden

The Staten Island rental that’s luring in renters with tomatoes and hot peppers

Portland, Maine (Credit: iStock)

The states with the biggest share of vacation rentals aren’t where you’d think

Landlords are exploring “creative” ways of mitigating the impacts of the new rent law. (Credit: iStock)

How NYC landlords are trying to get around the new rent law

(Credit: iStock)

Manhattan homebuyers continue “camping out” in the rental market: Elliman

441 Ocean Avenue and 1745 Caton Avenue in Brooklyn (Credit: Google Maps)

Meridian Properties buys pair of
rent-stabilized buildings for $35M

NJ rents are below the national average

NJ rents are below the national average

arrow_forward_ios