According to this week’s market reports, Brooklyn registered the most complaints over rat infestation in 2017 and median rents for Manhattan two-bedrooms rose by 1 percent.
Residential
Rat complaints | RentHop
Brooklyn is the most rat-infested borough in New York City. In 2017, the area registered 7,253 rodent complaints, higher than the 4,507 in Manhattan and more than one-third of the 19,152 total complaints in the city. Bedford-Stuyvesant, Harlem and the Upper West Side were the neighborhoods with the most complaints. Meanwhile, the buildings with the highest number of complaints were 1800 Popham Avenue in the Bronx, 407 Lincoln Place in Prospect Heights and 43 Sheffield Avenue in East New York. Read the report here.
Rentals | Apartment List
The median rent for a two-bedroom in Manhattan stood at $2,491 for the year ending June 1. This represents a 1 percent increase from $2,466 in 2017. The figure lags behind the national rent growth of 1.5 percent year-on-year. The city that posted the highest rent increase was Tampa, which registered a 4.6 percent hike to $1,243. Read the report here.
Sales | Olshan
There were 24 contracts that were signed in Manhattan at $4 million and above between June 11 and 17. The total includes eight properties that breached the $10 million mark. The top contract for the week was PH2003 at 1 Central Park South, which was sold with a last asking price of $33.95 million. The second most expensive contract was for the 11th floor of 810 Fifth Avenue, which changed hands with a last asking price of $22 million. Read the report here.
Commercial
Evolution of Health Care and its Impact on the Real Estate Landscape in the United States | Avison Young
Almost two-thirds of all community hospitals are in urban areas. Since 2010, 80 rural hospitals, most of which are in states with the nation’s highest poverty rates, have closed down due to lack of funding. The gap between the haves and the have-nots is expected to change as health care providers deal with their real estate. One of the changes the report predicts is that medical firms will become more like retailers, with their decisions being influenced by metrics such as traffic counts and competition.