The Real Deal New York

Market for temp housing heats up in Manhattan

More business hiring temporary workers, fueling demand

Manhattan landlords are now offering more fully furnished apartments available for short-term leases to meet a growing demand for temporary housing.

Hotels are facilitating most of the influx, the New York Times reported. The number of short-term dwellings in the New York metropolitan area climbed to 9,309 units, up from 8,330 units in 2009, according to data from the Highland Group, a hotel consultancy in Atlanta. Moreover, almost 2000 units are currently under construction, Highland told the Times.

Although the majority of hotel-units are outside Manhattan, developer G Holdings Corporation runs a Marriott-branded Courtyard Residence Inn Manhattan Central Park that is leading the pack. There are  261 extended-stay rooms on the top floors of the 1717 Broadway location, each equipped with all the usual hotel accoutrements, with added kitchen areas, appliances like dishwashers and microwaves, and a separate elevator for privacy.

The number of non-hotel units — situated in condominium and apartment buildings throughout Manhattan — is also expected to rise this year, according to Highland. The uptick in demand for such units may be attributed to New York businesses hiring more temporary workers, the Times reported. [NYT] — Angela Hunt

  • Keira Martins

    Nice to hear about the fully furnished apartments which are available for short-term leases. Keep posting.

    Student housing NYC