Rentals in demand: Financial District studios

TRD NEW YORK /
Jan.January 28, 2014 12:50 PM

The Financial District was both the most in-demand Manhattan neighborhood for studio searches and for overall rental apartment searches throughout the borough last week, according to Zumper, an apartment listings website.

The other top nabes were decidedly more northern: the Upper East Side, West Harlem, Gramercy Park and Washington Heights, in order. Studio apartments held the majority of the market share, with 55 percent of the leads. The median rent inquiry was $2,100 per month. One-bedrooms had 33 percent of the market and a monthly median inquiry of $2,295.

“Searched prices of one-, two- and three-bedrooms dropped as most were targeted at Harlem and Washington Heights,” Zumper COO Taylor Glass-Moore told The Real Deal.

Two-bedrooms and three-bedrooms had the smallest slivers of the pie. Two-bedrooms had 10 percent of leads with an average inquiry of $1,695-per-month, while three-bedrooms had 2 percent and $2,500 per month, Zumper data show.

Methodology: Zumper determined the rankings by using a representative sample of emails and phone calls from renters interested in its Manhattan listings available for the week ending Jan. 26. — Mark Maurer


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