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Brooklyn Sees Boom in New Rental Developments

Brooklyn sees boom in new rental development

If you're among the many New Yorkers contemplating a move to Brooklyn, rest assured that the borough is taking all necessary steps to make sure that it can accommodate you within its boundaries. Thousands of new rental residences are expected to hit the Brooklyn real estate market soon, with Brooklyn experiencing a development boom that’s almost proportional to the recent surge in the borough’s popularity.

Report: Lower Income Professionals Keeping NYC Rental Market Affordable

Report says lower income professionals are keeping NYC rental market affordable

Apartment rents in New York City have been falling for the past few months, and if a new report by real estate marketing consultant Nancy Packes is to be believed, the market is being kept affordable thanks to the influx of new renters, who, thanks to their lower incomes, are forcing landlords to keep rents cheap in the city. These new renters, who are mostly young and employed in creative pursuits like art, design and technology, are flooding into the city, and they are emerging as the ones controlling the rent swings in New York City.

27 on 27th in Long Island City Sees Rise in Popularity

27 on 27th in Long Island City sees rise in popularity

The recent flurry of New Yorkers moving into 27 on 27th, the new luxury rental building located at 42-17 27th Street in Long Island City is yet another indication of how popular this neighborhood has become. While it may have once been an industrial community in New York, Long Island City today is fast becoming known as a residential neighborhood of repute, with its residents loving the great apartments they have, and the beautiful Manhattan views they get to enjoy from their homes.

Manhattan Rental Market Still Strong, August Report Says

There was some debate at the end of July when people wondered if rising rents in Manhattan had finally reached their zenith and would perhaps come tumbling down in August. After all, like many said, once you reach the top, you can only come down. Well, the numbers are out now and it seems that “the top” has not yet been reached! Apartment rents in New York City continue their upward rise, and the rental market is as robust and vibrant as ever. The numbers showcase this trend best: rents for studio apartments saw an increase of 1.2%, and one-bedroom and two-bedroom apartments saw increases of 1.4% and 0.9% respectively.

Demand Keeps Surging for Rent-Stabilized Apartments

Rent Stabilized Apartments are some of the most coveted properties in New YorkRent-stabilized apartments are some of the most coveted rentals in all of Manhattan. As a whole, rent regulated apartments (found in the form of rent-stabilization and rent-control) offer a number of benefits to the resident. With the promise of rents that are far lower than market rate rents as well as the promise of continual lease renewal, rent stabilization holds quite the attraction for any current or aspiring Manhattan resident. With these properties held in such high regard and demand, it thus comes at no surprise that the competition for the few available rent-stabilized apartments in Manhattan is quite fierce.

Doorman vs Non-doorman: The Tribeca Exception to the Rule

The Tribeca neighborhooTribeca loftd is home to some of the most expensive apartments for rent in Manhattan. According to the MNS December rental market report, rent in Tribeca has consistently out priced nearly every neighborhood since December 2010. Only apartments in Soho cost more than those in Tribeca, and even then it's only one- and two-bedroom apartments in doorman buildings that do. Non-doorman buildings are more expensive across the board in Tribeca. Which brings us to the focus of this article, and one of New York's more peculiar trends: the triangle south of Canal Street is the only neighborhood in Manhattan where apartments for rent in non-doorman buildings are more expensive than apartments in buildings that have doormen. Tribeca studio apartments in non-doorman buildings have been more expensive than their doorman counterparts every month since December 2010. And one-bedroom and two-bedroom apartments without doormen have likewise cost more almost as consistently. In December 2011, having a doorman with your two-bedroom apartment saved you over $1,000. And a doorman welcoming you into your studio shaved nearly $800 off your rent.

Single Moms Revitalize NYC Rental Market

Manhattan Luxury Apartments at Sunset

Catering to a city of renters, NYC real estate developers seem to design with the tech-savvy resident in mind. But as luxury Manhattan apartments get sleeker, perhaps the hottest amenities on the market aren’t wired at all—just childproof. Statistics from Property and Portfolio Research, a real-estate forecasting firm owned by CoStar, recently reported single moms were the largest group of new NYC renters from 2000 to 2010, comprising 30% of new-renters. But in addition to adding to the diversity of NYC renters, the wave of single-mother-residents revitalizing the NYC housing market scene has the potential to influence more family oriented features in a real-estate race where impersonating resort life has become the foremost objective.

Manhattan’s Trendiest Neighborhood is Also the Priciest

Tribeca_Daytime_ViewRent hikes. A stale array of Manhattan apartment listings. That’s the rental market scene NYC-apartment-hunters stretching from Harlem to FiDi have been testifying to. The continuing drag in the new-development pipeline (a repercussion of the 2008 stock market crash) coupled with some of the lowest vacancy rates the city has ever seen have dispersed most incentives for landlords to keep rents low. But although rent is up across the board, where in the city is the priciest? The two neighborhoods that take the cake are among Manhattan’s most popular -- the gilded Bohemian paradise that is SoHo, and chic, strutting Tribeca, where trends are born.

Luxury Rentals Market Cools Down a Few Degrees

Luxury Manhattan Apartments - Rental Market Cools Down
Last week, Citi Habitats and Prudential Douglas Elliman released a second quarter report claiming that the Manhattan rental market was on fire, and things weren’t going to cool off any time soon. Rent prices were supposedly at an all-time high and weren’t expected to drop in the near future. This was music to every Manhattan landlord’s ears, but a punch in the gut (or wallet) to everyone searching for a luxury rental in Manhattan. However, a more in-depth look at the aggregate rent paid each quarter dating back to 1991 shows that the peak in the luxury rental market actually already occurred.