The Real Deal New York

One-bedroom prices in NYC remaining stagnant, two-bedroom prices ticking up

Most expensive Manhattan neighborhoods are Tribeca and Soho, Zumper report says
April 25, 2018 10:20AM

TriBeCa (Credit: StreetEasy)

The city’s one-bedroom apartments aren’t getting much cheaper, but they aren’t getting much more expensive, either.

A new report from Zumper found that the average prices of one-bedroom apartments have held steady at about $2,900 per month, according to Curbed. Average prices for two-bedroom apartments have ticked up by 1.7 percent to $3,500 per month.

The most expensive neighborhoods for one-bedrooms in Manhattan were Tribeca at $4,000, Soho at $3,800 and Chelsea at $3,700. Soho and Chelsea also saw the largest price increases at 9 and 8 percent, respectively, and Gramercy Park saw the largest price decrease at 7 percent.

Manhattan’s most affordable neighborhoods were Washington Heights, West Harlem, Central Harlem and East Harlem, where average one-bedrooms went for $1,850, $2,150, $2,300 and $2,395, respectively.

In Brooklyn, the most expensive one-bedrooms were in Vinegar Hill at $3,800, Dumbo at $3,700 and Downtown Brooklyn at $3,200, while the cheapest neighborhood for one-bedrooms was Canarsie, with an average monthly price of $1,500. The largest rent drop was in Borough Park, where prices decreased by 14 percent.

In the Bronx, rents in Port Morris grew the most at 21 percent. [Curbed]Eddie Small