Yes, There (Still) Are NYC Apartments Renting for Less than $3000/Month

Yes, There (Still) Are NYC Apartments Renting for Less than $3000/Month

Apartment hunters in New York City let out a collective groan earlier this month when a new survey on the city’s rental market declared that the average rent of an apartment in the city has reached a whopping $3,017 per month—that’s three times the average rent of an apartment in America. Once again, it is the city’s low vacancy rates that are being blamed for this meteoric rent rise, with landlords taking advantage of the high demand to shoot up the asking prices of their apartments.

But all is not lost—at least not yet. As hard as it may be to believe, there are still apartments on the market that are asking for rents less than the current average in the market. We went through our extensive database to find out apartments that have asking rents of less than $3,000 a month, and we have listed below some of our favorites (read as: the least expensive picks) from that select collection of available apartments.

The New Normal: NYC's Average Rent is Now Over $3000 Per Month

Image Courtesy of WNYC

It's certainly no secret that the cost of living in New York City is outrageous. The food, the entertainment, and worst of all, the housing, are no doubt albatrosses around the necks of city-dwellers looking to take advantage of everything the city's splendors. And, according to a recent report from the real estate research firm, Reis Inc., sustaining one's ideal lifestyle is now harder than ever. The not-so-shocking report states that, for the first time during the second quarter, New York City's average rental rate has surpassed $3,000 and has reached a whopping $3,017 a month.

Coming Soon: Rent Increases for NYC’s Rent-Regulated Apartments

Coming Soon: Rent Increases for NYC’s Rent-Regulated Apartments

Tenants of rent-regulated apartments in New York City will soon have to write out larger checks to their landlords—the Rent Guidelines Board recently approved an increase of at least 4 percent in the rents of the million or so people who currently live in rent-regulated apartments across the city. Starting October 1st, one-year leases for rent-regulated apartments will see a rent increase of 4 percent, while two-year leases will see a rent increase of 7.75 percent.

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.

Just in Time for Summer: New Rentals Pop Up in New York City

Just in Time for Summer: New Rentals Pop Up in New York City

If you have been looking for a rental in New York City, it’s safe to assume that the recent upward spiral of temperatures in the city hasn’t exactly been conducive to your apartment hunt here. After all, who wants to walk around in this weather checking out apartments! But wouldn’t it be great to have someone tell you, in the comfort of your own home, about ALL of the great new luxury rentals that are now available in the city?

50 North 5th: Affordable Luxury Apartments in Williamsburg

50 North 5th Exterior

To be perfectly honest, we’re not entirely sure which word in that title is the least believable. Nevertheless, it’s time to temporarily silence your internal skeptic, because 50 North 5th, one of Williamsburg’s newest luxury developments, is about to hit the market.

Related Companies Bans Smoking in All of its 40,000 Rental Units

Related Companies Bans Smoking in All of its 40,000 Rental Units

Ten years ago, Mayor Mike Bloomberg passed a measure that banned smoking in bars and restaurants throughout New York City. It was a move that was heavily criticized at that point of time, with many saying that it would hurt the city’s hospitality industry. But Bloomberg didn’t flinch, and the naysayers were left grumbling as he went on to expand the ban in 2011, which put an end to smokers lighting up in the city’s parks as well. Now, a real estate company seems to have taken a page out of Bloomberg’s grand book of ideas, and has moved to ban smoking from all of its rental apartments across the country.

Christine Quinn, Bill de Blasio and John Liu Against Hike in Rents for NYC’s Rent-Stabilized Apartments

Christine Quinn, Bill de Blasio and John Liu

In the long standing battle between landlords and tenants in New York City, the latter group of New Yorkers seem to have now found an unlikely new set of allies—the city’s mayoral candidates! In a recent public hearing conducted by the Rent Guidelines Board in Manhattan, three of the Democratic candidates for mayor, City Council Speaker Christine Quinn, Public Advocate Bill de Blasio and City Comptroller John Liu, said that they were against a proposed increase in the rents for rent-stabilized apartments in the city.

New Rental in Brooklyn: Say Hello to Landmark Park Slope

Landmark Park Slope, Brooklyn

Heads up, Park Slope: there’s a new luxury rental building headed your way this August! This shiny new building, which is being called Landmark Park Slope, is located at 267 Sixth Street and will be offering studio, one-bedroom and two-bedroom apartments for rent. Given the number of New Yorkers who are interested in finding a home in Brooklyn, one can expect the 104 units that are being offered at this 12-story building to be lapped up as soon as they come into the market.

Leroy Schecter’s $125,000 Rental at 15 Central Park West is “No Longer Available”

Leroy Schecter 15 Central Park West Rental

Since its launch a few years ago, 15 Central Park West has become one of the finest luxury residential buildings we have in New York today. Designed by celebrity architect, Robert A. M. Stern, this hallowed building has seen the crème de la crème of Manhattan society reside in its premises, including Goldman Sachs CEO Lloyd Blankfein, actor Denzel Washington and singer Sting.