New renters move to FiDi

While the Upper East Side was once the preferred destination of
first-time renters, now more recent college grads are moving to the Financial District.
Renters are drawn to the amenities and space in the new luxury rentals
there, some of which are offering no broker fees, free rent and
complimentary moving costs. The Upper East Side had the highest vacancy
rate in Manhattan at 1.45 percent, according to Citi Habitats’ June
residential rental market report. Financial District’s vacancy rate was
1.31 percent, compared to a 1.21 percent overall vacancy for Manhattan.