According to this week’s market reports, median residential rents are down by 7 percent in Manhattan for one-bedrooms, and effective commercial rents are up 4.2 percent nationwide.
Residential sales | Bond New York
The median sales price decreased 5 percent year-over-year in the second quarter of 2017, and increased 8 percent over the previous quarter. Read the full report here.
Residential sales | Halstead Property
The median sales price increased 10 percent year-over-year in the second quarter of 2017, and new development sales averaged above $4 million for the fourth consecutive quarter. Read the full report here.
FiDi sales and rentals | Platinum Properties
The median price for an apartment in the Financial District climbed 73 percent year-over-year to $1.6 million, driven by a 61 percent increase for one-bedroom apartments. Read the full report here.
Rental report | Zumper
In July, median rent for one and two-bedrooms decreased year-over-year by 7.5 and 6.9 percent respectively, to $2,950 for a one-bedroom and $3,350 for a two-bedroom. Read the full report here.
National Effective Rent Index | Savills Studley
Gross commercial rents were up 4.2 percent to $49.42 per square foot in 2016. Effective rent for tenants, including base rent and operating costs, increased 3.3 percent to $37.55, while the effective rent for landlords — the total rent minus incurred costs including concessions — increased 4.9 percent to $17.82. Read the full report here.