Apartment rentals New York with Manhattan

TF Cornerstone is doing its part to alleviate the tight supply of apartments for rent across the city. In the upcoming years, the development company will add nearly 3,000 apartments spread across just three projects. Recently, YIMBY sat down with TF Cornerstone’s Jon McMillan and Sofia Estevez, discussing these upcoming projects.

For the last six-months the Attorney General’s Office has been trying to get ahold of Airbnb’s host data, they have finally succeeded. Airbnb the online platform that allows apartment or home owners to rent their properties out to travelers is voluntarily giving up their host data. Although they will be removing some of the identification information such as, social security numbers, names, apartment numbers, and adding numerical identifiers to differentiate between the multitude of users.

As we expected to happen sooner rather than later, Manhattan rents have stabilized, bringing an end to the sixth month slide that began in August of 2013, according to a report by Jonathan Miller. Instead of the median rental price for the borough continuing to decline, March saw the median price rise by 0.2 percent from the same time last year, now sitting at $3,200 per month, nearly the same as last year’s median of $3,195. The median rental price for Manhattan last Februrary was $3,100.

Though the overall number of apartments rented in the colder months of the year typically decreases, our attention to the market remains diligently focused. We took a look at the latest data released, and here’s what we saw.

For the second straight month, the median rental price of a Manhattan apartment declined from the same month last year, according to the October rental report by Elliman. The median rent in Manhattan for October was $3,150, a 1.6 percent drop from October 2012’s $3,200. Prior to September, Manhattan had seen 26 consecutive months of increased rents when compared to the same month from the previous year.