Need a little incentive to make a move? How does a month of free rent sound? What about three months? New York City rentals are bouncing back from the impact of COVID-19. But many of the incentives and landlord offers that started during lockdown can still be found. Huge NYC rent concessions are becoming more rare, says Keith Marder, an agent with Brown Harris Stevens. But some are still out there. “The rental market is pretty brisk right now, but there were landlords giving two or three months free, and some still are. I tell tenants it can’t hurt to ask,” he says. Here are 5 great rentals that are offering two, three, or even five months of rent for free. Grab a deal while they last!
Our first stop is at the Denizen. This massive rental complex at the former Rheingold brewery in Bushwick has a total of 900 apartments. Designed to resemble a European city and loaded with amenities, there’s more than enough reason to consider renting here. For instance, it’s set on a 1.5-acre parcel with a sprawling courtyard and a 60,000-square-foot roof deck. Now add this NYC rent concession: three months free on a 12-month lease. That brings the net-effective rate for this bright 2-bedroom down by nearly $1,000. Given the amenities, including a dishwasher and laundry in the unit, that’s quite a bargain! Especially if you split the cost with a roommate. EXR Leasing is handling the listing.
Our next apartment offering a big NYC rent concession is at The Smile. This bold development in East Harlem has loads of amenities, including a swimming pool. The location is awesome, too, close to Marcus Garvey Park and bustling 125th Street. This unit is technically a studio, but at nearly 800 square feet, it has two different alcoves that could easily become a bedroom and an office. It’s a cool, flexible floor plan centered around a large living room. There’s an open kitchen with breakfast bar and dishwasher, plus an in-unit washer/dryer. To sweeten the deal, the building’s leasing team is offering three months free on a 15-month lease. That brings the net-effective rate to $2,796.
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Like neighboring Bushwick, Ridgewood has seen an uptick in new rental developments. That includes The Strand, where this modern unit is up for grabs. And if you think $2,886 sounds high for a Queens 1-bedroom, consider the huge rent concessions. A whopping five months free on a 17-month lease brings the net-effective rent way down to $2,037. The home is cloaked in white oak floors, with in-unit laundry for convenience. Stainless steel appliances in the kitchen include a dishwasher, enhanced by white quartz countertops. In addition, the building boasts two landscaped roof decks with BBQs. The listing is repped by the leasing team at The Strand.
We head to chic Sutton Place in Midtown East for our next NYC rent-concessions deal. This spacious corner 1-bedroom has drawn the attention of more than 175 StreetEasy shoppers. With good reason! Its condo-like finishes include a sleek, high-end kitchen with a dishwasher. There’s also excellent closet space and tons of natural light pouring in from abundant windows. And then there’s the incentives: The leasing firm is offering three months free on a 12-month lease. That brings the net-effective rate down to $2,846. Hot tip for dog owners: Stonehenge 57 is so pet-friendly it even hosts “yappy hours” for residents and their pups!
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Want to live luxuriously, with windows that seem to overlook the entire city? Our last stop delivers in Williamsburg. This well-appointed studio is one of about four units left at The Dime, a new high-end rental tower. Rent concessions give you two months free on a 14-month lease. That brings the net-effective rate for this unit to $2,709. It includes a dishwasher and in-unit washer/dryer, plus access to the building’s impressive amenities. Think state-of-the-art fitness center, terrace with grills and dining areas, and much more. Listed by Tanner McAuley Homlish of Douglas Elliman.
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