Manhattan rents creeping up, but some bargains remain

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
$1B in Rent Reduction Available to Select Blackstone Tenants (Blackstone)
Blackstone to spend $1B in affordable single-family rental expansion
Blackstone to spend $1B in affordable single-family rental expansion
(iStock/Illustration by Kevin Rebong for The Real Deal)
Owning is more affordable than renting, even amid rising home prices
Owning is more affordable than renting, even amid rising home prices
From left: Eric Adams, mayor of New York City; Rich Buery, chief executive officer, Robin Hood; Scott Short, chief executive officer, RiseBoro (Getty Images, Twitter/LISC NYC, iStock/Illustration by Steven Dilakian for The Real Deal)
Nonprofits call for greater access to city vouchers as evictions loom
Nonprofits call for greater access to city vouchers as evictions loom
Gov. Kathy Hochul, RSA President Joseph Strasburg, The Fortune Society's Andre Ward (Getty, Fortune Society/Illustration by Kevin Rebong for The Real Deal)
Hochul aims to stop landlords’ knee-jerk rejections of ex-cons
Hochul aims to stop landlords’ knee-jerk rejections of ex-cons
Onyx Equities to roll out 2 Ridgewood rental projects
Onyx Equities to roll out 2 Ridgewood rental projects
Onyx Equities to roll out 2 Ridgewood rental projects
RET Ventures' Chris Yip and The Real Deal's Hiten Samtani
Inside the rental tech ecosystem, with RET Ventures’ Chris Yip
Inside the rental tech ecosystem, with RET Ventures’ Chris Yip
Report: U.S. rents surged 7% from October to November
Report: U.S. rents surged 7% from October to November
Report: U.S. rents surged 7% from October to November
Legal Aid Society CEO Janet Sabel and Gov. Kathy Hochul (Legal Aid, Getty)
Legal Aid Society suit asks NY to reopen rent relief portal
Legal Aid Society suit asks NY to reopen rent relief portal
arrow_forward_ios

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

Loading...