Scorecard: Residential rentals

A roundup of news and data on the residential and commercial markets

TRD NEW YORK /
Sep.September 15, 2015 05:15 PM

From the September issue: The median rental price in northwest Queens surpassed that of Brooklyn in July, reaching $3,016, according to a report from Douglas Elliman. “The attraction of new residents is a direct reflection of its abundance of resources,” said Garrick Wade, a licensed salesperson with Keller Williams NYC, citing the appeal of transit, restaurants and other amenities drawing new renters to Long Island City.

Not surprisingly, that neighborhood accounted for nearly half of new units proposed for Queens in construction plans filed with Department of Buildings since January.

An analysis of all residential applications with at least 15 units or 15,000 square feet by The Real Deal found that 44 percent of proposed units in the borough were planned for Long Island City.

For the Manhattan rental market, rents hit another record, reaching an average price of $3,501 for the first time, a Citi Habitats report found.

The breakdown of rent prices by unit type reveals massive price contrasts between buildings with and without doormen — nearly twice as much for two-bedroom new development doorman units in July. But is the attraction the doorman, or are there other draws at such buildings? “It really is about the doorman,” MNS agent Vicario Phillip said. Although these buildings often have other amenities, he said, a doorman means security, upkeep and timely package delivery.


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