Apartment rentals New York with Vacancy Rates

Chelsea Park Fully Leased in Just Ten Weeks

Chelsea Park Rentals

Time is of the essence when you are looking for an apartment to rent in New York City—the sooner you move, the better your chances of snagging a home for yourself. In a city that is notorious for its shortage of inventory, new apartment vacancies don’t last very long on the market—just look at Chelsea Park as an example. This new, 204-unit luxury rental building located at 260 West 26th Street started putting apartments on the market only ten weeks ago—and now it is fully leased out.

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Reports Suggest Tight Rental Market Ahead for Manhattan

Reports Suggest Tight Rental Market Ahead for Manhattan

Well, this bit of news will come as no surprise to those of you who have been following this blog: rents for apartments in Manhattan have risen again, and this trend is expected to continue as summer comes to New York City. The latest rental market report from Douglas Elliman put the median rent of a Manhattan apartment to be at $3,195 per month, which is an increase of 6.5 percent from its value a year ago in April.

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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.

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July: Manhattan Rental Market Follows June Trends

After all the cheering for the good news coming out of the Manhattan real estate sector in June, the good spell for the housing market has continued through to July as well. The latest report by real estate firm Citi Habitats reveals that the vacancy rates for apartments in Manhattan have risen to 1.2 per cent, an increase that bodes well for those hunting homes in the city. The highest vacancy rates were seen in the East Village with 1.65 percent, followed closely by the Upper West Side with 1.56 percent and Murray Hill with 1.52 percent. Once again, people looking for homes in the city are at an advantage, and should make use of this time wisely to find their dream homes.

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Warm February Weather Creates an Even Warmer Market

Warm temps bolsterd the Manhattan rental apartment marketFebruary is traditionally the slowest month of the year in Manhattan real estate, a month known for giving renters a chance to find deals. In Februaries past, landlords offered more concessions in order to stimulate demand. This year, the opposite happened. Even given the context of low inventory, few new apartments coming on the market, and high demand, February still exceeded expectations for apartments in every Manhattan neighborhood. Landlords cut back on concessions and raised rents, and the high temperatures brought out far more renters than expected; the high volume of activity far surpassed traditional winter levels. If this is any indication, rents for apartments in Manhattan will keep rising in the spring, the busiest season of the year.

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Rise and Fall: Do Rising Vacancy Rates On Manhattan Rental Apartments Augur A Comeback For Concessions?

You know it's good news when Luxury Rentals Manhattan breaks out the popchampagne.jpg imagery, and so it is in this case. Of course, rising vacancy rates are not the sort of thing that landlords pop corks over -- the tighter the market for NYC apartment rentals is, the more they're able to get for said NYC apartment rentals. But with October rental stats showing an (expected, seasonal) rise in the New York apartment vacancy rate, things in the Manhattan real estate market seem to have turned in favor of renters, after months of running the other way. Again, this sort of thing pretty much always happens in autumn, which is why it's the most wonderful time of the year for Manhattan apartment hunters. But that doesn't mean renters shouldn't be celebrating this particular bit of seasonal good luck. While CitiHabitats' report on the October rental market indicated that rents fell one percent from September's averages, the real news here is the rising vacancy rate -- and how it could wind up making concessions on NYC apartments a lot less rare. Thus the popping corks. Read on for the nitty gritty.

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