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The week in real estate market reports
A weekly feature bringing you the industry’s latest intel
According to the latest batch of market reports, overall office asking rents up were across the board in August, Manhattan rentals decreased slightly in price and rental vacancy is tightening in the outer boroughs.
Residential
Effects of NYC hotel boom on permanent housing: Internet Association
Hotels have replaced 773 housing units in New York City since 2010 and more than 750,000 square feet of available residential space was used to develop hotels, a group affiliated with Airbnb claims. Read the full report here.
NYC rental vacancy rates: StreetEasy
Manhattan was the only borough to see a rise in rental vacancies between 2011 and 2014. The remaining boroughs saw record-low rates. Read the full report here.
August 2016 Manhattan residential rentals: MNS
Manhattan rents were largely steady in August, decreasing 0.4 percent from July. Year-over-year, rentals were up 1.4 percent. Tribeca saw the largest price jump. Read the full report here.
August 2016 Brooklyn residential rentals: MNS
Greenpoint studios were 14.6 percent cheaper in August than in July although overall rents in Brooklyn fell by less than 25 cents. Read the full report here.
August 2016 Queens residential rentals: MNS
Rents in Queens have risen an average of 3.6 percent since August 2015. Ridgewood saw the greatest price changes, with the price for a one bedroom apartment down 15.5 percent since July. Read the full report here.
Commercial
September 2016 Manhattan office leasing: JLL
Leasing at 4 World Trade Center led Downtown activity in August, tenants flocked to Hudson Yards in Midtown and leasing was soft in Midtown South. Read the full report here.