Apartment rentals New York with New York City Real Estate

A new study printed in the New York Times finds that despite the decrease in mortgages rates – along with high rents – hasn't actually persuaded renters to start buying. According to a study of real estate investment trusts (REITs), only 14.7 percent of tenants that moved out in the fourth quarter of 2014 did so with the intention of buying a home. That number has been in the 14 percent range since 2012, and just hasn’t moved, according to David Guarino, a research analyst for John Burns Real Estate Consulting in Irvine, California.

According to the latest Elliman report, compared to last month in June, prices seem to be decreasing. Don’t get too excited just yet though, because although there was a slight decrease between these past two months, July’s overall rents are the highest they have been in the past six consecutive Julys.

South of Greenpoint, there’s Williamsburg—the trendy neighborhood with acres of new waterfront development. North of Greenpoint, there’s Long Island City—a neighborhood much like Williamsburg, with a new attitude and waterfront development. Then there’s Greenpoint—a neighborhood that recently was polled as the “roughest looking” neighborhood in New York City, which developers are, of course, eyeing for waterfront development.

The Atlantic Yards project in Brooklyn was one of the most contentious real estate developments seen in New York City in recent times, with critics lashing out at the 22-acre project that would see commercial office space, residential housing and a swanky sports arena arrive in Downtown Brooklyn. Of the three components of the Forest City Ratner project, the Barclays Center arena opened up a few months ago, and now, the next in line seems to be the housing units, with the first Atlantic Yards apartment building scheduled to be open by summer 2014.  

Insatiable. That’s one word to describe it. While renting an apartment in Manhattan is not everybody's cup of tea, demand continues to be high while inventory continues to be low. According to the U.S. Census, the population in Manhattan currently hovers at around 1.6 million residents. However, this number neglects to factor in the other 2.4 million commuters, day-trippers, hospital patients, tourists and students who may pass through Manahttan at any given point during the work day, reported the Rudin Center for Transportation and Management at New York University. And on major holidays and special events such as the Macy’s Day Thanksgiving Day Parade, that number easily surpasses 5 million. At the current rate, the population density in Manhattan could rival that of Hong Kong’s by as early as 2030.