(BN) Manhattan Rents Fall as Tenants Take Advantage of the Recession
Started by marco_m
about 16 years ago
Posts: 2481
Member since: Dec 2008
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By Oshrat Carmiel Dec. 22 (Bloomberg) -- Manhattan rents fell as much as 7 percent in the year ended Dec. 15 as the recession enabled some tenants to live in larger apartments for less. In buildings attended by doormen, rents for studio apartments dropped 7 percent to an average of $2,247 a month during the 12-month period, according to a report by the Real Estate Group of New York. One-bedroom... [more]
By Oshrat Carmiel
Dec. 22 (Bloomberg) -- Manhattan rents fell as much as 7
percent in the year ended Dec. 15 as the recession enabled some
tenants to live in larger apartments for less.
In buildings attended by doormen, rents for studio
apartments dropped 7 percent to an average of $2,247 a month
during the 12-month period, according to a report by the Real
Estate Group of New York. One-bedroom apartments with doormen
fell 5.6 percent to $3,262.
“Renters have welcomed the discounts on doorman units,”
the report said. “Whatever prices do, vacancies will follow.”
Rents in Manhattan are falling as unemployment climbs.
Seasonally adjusted joblessness in New York City rose to 10
percent in November, in line with the country as a whole, the
state Labor Department reported Dec. 17. The city lost 25,200
finance-related jobs, including banking, securities and
commodities, in the year ended Nov. 30, including 700 last
month.
In buildings without doormen, studio apartments fell by 3.8
percent to $1,921, while one-bedrooms in those buildings fell
less than 1 percent $2,636.
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Response by NYC10007
about 16 years ago
Posts: 432
Member since: Nov 2009
There is no way this possibly include concessions...Those numbers are probably closer to 15%...
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Response by somewhereelse
about 16 years ago
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where is perfitz to tell us rents aren't down, and there are no concessions...?
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Response by marco_m
about 16 years ago
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or jimhobo
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Response by evnyc
about 16 years ago
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Love this trend. Keep it up! At least a while longer, anyway.
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Response by marco_m
about 16 years ago
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bulls?
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Response by cccharley
about 16 years ago
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i've seen 2br 2bth doormen for 2550 - sutton place things are going down. many 2br 1 bth under 3k
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Response by stevejhx
about 16 years ago
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According to JuiceMan, rents are going to go up because property prices are so high.
HAHAHAHAHA!
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Response by marco_m
about 16 years ago
Posts: 2481
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bears answer the bulls threads, but the bulls never answer these ones.
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Response by julia
about 16 years ago
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Member since: Feb 2007
rents have gone down but i looked for three months and could not find a doorman studio (alcove) for under $2k...
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Response by somewhereelse
about 16 years ago
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> bears answer the bulls threads, but the bulls never answer these ones.
I can't imagine they like having their noses rubbed in it...
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Response by somewhereelse
about 16 years ago
Posts: 7435
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"rents have gone down but i looked for three months and could not find a doorman studio (alcove) for under $2k..."
Streeteasy search shows 367 doorman studios on UES, UWS, downtown, and midtown...
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Response by jason10006
about 16 years ago
Posts: 5257
Member since: Jan 2009
"No Fee Rentals
In Manhattan
We found 137 listings for no more than $2,000 with doorman"
"You searched for apartment listings with rent below $2,000. Per your request, the results include only the following apartment layouts: Studio, 1-Bedroom, 2-Bedroom, 3 and more, Loft. The list is ordered by Neighborhood.
so many places for rent its almost scary. theres still not gonna be a big influx of people into the city till June and even then its not gonna be big
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Response by marco_m
about 16 years ago
Posts: 2481
Member since: Dec 2008
"so many places for rent its almost scary. theres still not gonna be a big influx of people into the city till June and even then its not gonna be big"
There is no way this possibly include concessions...Those numbers are probably closer to 15%...
where is perfitz to tell us rents aren't down, and there are no concessions...?
or jimhobo
Love this trend. Keep it up! At least a while longer, anyway.
bulls?
i've seen 2br 2bth doormen for 2550 - sutton place things are going down. many 2br 1 bth under 3k
According to JuiceMan, rents are going to go up because property prices are so high.
HAHAHAHAHA!
bears answer the bulls threads, but the bulls never answer these ones.
rents have gone down but i looked for three months and could not find a doorman studio (alcove) for under $2k...
> bears answer the bulls threads, but the bulls never answer these ones.
I can't imagine they like having their noses rubbed in it...
"rents have gone down but i looked for three months and could not find a doorman studio (alcove) for under $2k..."
Streeteasy search shows 367 doorman studios on UES, UWS, downtown, and midtown...
"No Fee Rentals
In Manhattan
We found 137 listings for no more than $2,000 with doorman"
http://streeteasy.com/nyc/rentals/manhattan/no_fee:1|price:-2000|amenities:doorman
"You searched for apartment listings with rent below $2,000. Per your request, the results include only the following apartment layouts: Studio, 1-Bedroom, 2-Bedroom, 3 and more, Loft. The list is ordered by Neighborhood.
336 records found"
http://www.nybits.com/search/?_a!process=y&_rid_=3&_ust_todo_=65733&_xid_=j58TLknDm8Wjr5-1261600797&!!atypes=studio&!!atypes=1br&!!atypes=2br&!!atypes=3more&!!atypes=loft&!!rmin=&!!rmax=2000&!!orderby=neighborhood&downtownxmanhattan=y&!!nsearch=battery_park_city&!!nsearch=central_village&!!nsearch=chinatown&!!nsearch=east_village&!!nsearch=financial_district&!!nsearch=little_italy&!!nsearch=lower_east_side&!!nsearch=noho&!!nsearch=nolita&!!nsearch=soho&!!nsearch=tribeca&!!nsearch=west_village&midtownxmanhattan=y&!!nsearch=central_midtown&!!nsearch=chelsea&!!nsearch=flatiron_district&!!nsearch=garment_district&!!nsearch=gramercy_park&!!nsearch=hells_kitchen&!!nsearch=kips_bay&!!nsearch=midtown_east&!!nsearch=murray_hill&!!nsearch=stuyvesant_town&!!nsearch=upper_east_side&!!nsearch=upper_west_side&submit= SHOW RENTAL APARTMENTS
You lie.
so many places for rent its almost scary. theres still not gonna be a big influx of people into the city till June and even then its not gonna be big
"so many places for rent its almost scary. theres still not gonna be a big influx of people into the city till June and even then its not gonna be big"
I agree with that one
and the incentives live on
good time to be a renter...