http://therealdeal.com/newyork/articles/manhattan-rental-market-recovered-according-to-citi-habitats-and-gary-malin
The Manhattan rental market has now fully recovered to pre-downturn levels, according to Citi Habitats' May market report released today. Just 0.69 percent of Manhattan rental units were vacant in May, the lowest level in five years. And that's not due to lower prices. Thanks to year-over-year price gains of 8 to 10 percent across all unit sizes, the average Manhattan monthly rent jumped to $3,353, just 1.2 percent less than the 2007 peak. "The Manhattan rental market is nearing the conditions seen at the market's peak," said Gary Malin, president of Citi Habitats. "Apartment-seekers need to be aware that conditions are 180 degrees from where they were last year." Perhaps the best proof of that comes in the sharp decline in the number of landlord incentives. While 60 percent of leases included some sort of concession at the depths of the downturn, and 34 percent of leases had them last May, just 8 percent of leases included concessions in May. TRD
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Response by apt23
about 15 years ago
Posts: 2041
Member since: Jul 2009
How can you believe anything from Citi Habitats.
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Response by alanhart
about 15 years ago
Posts: 12397
Member since: Feb 2007
Fayacracka Fayacracka,
Sis Boom Bah,
steve & Citi Habitats,
Rah Rah Rah!
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Response by steveF
about 15 years ago
Posts: 2319
Member since: Mar 2008
apt23 stop, please for the love of God stop the "how can u believe..." if I hear that bear comment one more time I'll......
This may hurt but it pays to know that prices are near peak levels as well. Don't shoot the messenger.
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Response by aboutready
about 15 years ago
Posts: 16354
Member since: Oct 2007
hey, they have 25 bellweather buildings they follow quite closely.
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Response by steveF
about 15 years ago
Posts: 2319
Member since: Mar 2008
when all else fails and the data just ran you over then bring out the ..."how can you believe" or " rah rah rah". You know you guys are always here. Maybe if you got a second job you could afford that apt.
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Response by malthus
about 15 years ago
Posts: 1333
Member since: Feb 2009
Yeah, we wouldn't want to dismiss information simply because of the source, right SteveF?
belief in a higher being won't help your real estate portfolio, Fsteve.
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Response by apt23
about 15 years ago
Posts: 2041
Member since: Jul 2009
stevef: I believe rental prices have gone up. But Citi habitats have a horrible reputation -- deception seems to be regular business modus op for that company. So, I am not doubting rental rates going up, I am only questioning how you can refer to any data given out by such a suspect operation. don't you have any other sources to back up your assumption.
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Response by ekartash
about 15 years ago
Posts: 364
Member since: Jun 2007
for those who dont believe the report, go and try to rent a place. you might get a good deal on a 5th floor walk up on 44th and 10th. otherwise, believe it. the prices are up up up, and there is very little inventory (atleast for what i am looking). unfortunately.
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Response by alanhart
about 15 years ago
Posts: 12397
Member since: Feb 2007
How can you believe in the love of God when your real estate investments will never recoup the value lost over the last few years?
I guess it has to do with the god you worship: the sun god Rah!
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Response by jim_hones11
about 15 years ago
Posts: 82
Member since: Mar 2010
Easier (and more fun) for the resident losers to try and discount the source (and all other evidence) than admit they've been wrong about the rental market.
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Response by alanhart
about 15 years ago
Posts: 12397
Member since: Feb 2007
Jim, it's CITI HABITATS! Not even you -- not even you -- would go so low as to have anything to do with them. They have the credibility of a heroin addict.
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Response by jas
about 15 years ago
Posts: 172
Member since: Aug 2009
It all seems to fly in the face of market forces, but yes, asking rents seem to be going up. I've done a search similar to ekartash and am shocked at the asking prices/spaces available. Never got so far as to negotiate so don't know if there's room to do so.
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Response by marco_m
about 15 years ago
Posts: 2481
Member since: Dec 2008
firecracka firecracka sis boom bah...kills me everytime.
even though Ive now converted to hopefull bull, How could the rental market be fully back if concessions even still exist??
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Response by marco_m
about 15 years ago
Posts: 2481
Member since: Dec 2008
heroin addicts probably have the most character and credibility of all addicts i'd say
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Response by rb345
about 15 years ago
Posts: 1273
Member since: Jun 2009
I've just finished studying the EV 1-bd walk-up market and it seems that a decently
located decent-sized 1-bd will cost over $2600 and maybe a broker's fee as well.
That's a hugh change since June 2009
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Response by stevejhx
about 15 years ago
Posts: 12656
Member since: Feb 2008
Heroin addicts are very reliable: they'll do anything to get their fix.
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Response by w67thstreet
about 15 years ago
Posts: 9003
Member since: Dec 2008
marco.... keep an eye on your finances... don't worry about us strategic renters... when smart people try to leave the sinking ship early, sometimes it gets crowded at the door.
You just keep sipping that shirley temple, why don't you just order a 5 course dinner. Here I'll pay for your drinks and dinner.
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Response by w67thstreet
about 15 years ago
Posts: 9003
Member since: Dec 2008
ekartash... hey go buy some more NYC RE, I beg you. Please just paint some walls or something.... let the adults, like me figure out when the bottom is in nyc re..... run along now.
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Response by jim_hones11
about 15 years ago
Posts: 82
Member since: Mar 2010
Alan- I once saw citi referred to as being like macdonalds on this board. If I wanted to know how many fast food burgers were sold in this town at any time I'd look at that as a pretty good source of info. If I learned that they only used 25 of their stores to find some sort of composite average for the entire town I'd trust it. Because who knows that business better? Whether you like that business or not doesn't really matter.
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Response by jim_hones10
about 15 years ago
Posts: 3413
Member since: Jan 2010
It must make you all sick that real estate brokers are making a fucking fortune off of renters right now, after all of you crowed about our demise just a couple of years ago! LOL!
How can you believe anything from Citi Habitats.
Fayacracka Fayacracka,
Sis Boom Bah,
steve & Citi Habitats,
Rah Rah Rah!
apt23 stop, please for the love of God stop the "how can u believe..." if I hear that bear comment one more time I'll......
This may hurt but it pays to know that prices are near peak levels as well. Don't shoot the messenger.
hey, they have 25 bellweather buildings they follow quite closely.
when all else fails and the data just ran you over then bring out the ..."how can you believe" or " rah rah rah". You know you guys are always here. Maybe if you got a second job you could afford that apt.
Yeah, we wouldn't want to dismiss information simply because of the source, right SteveF?
http://streeteasy.com/nyc/talk/discussion/21039-biased-jonathan-miller-quoted-by-clueless-media
data, what data?
for the love of God!!!!!! I'm out!
belief in a higher being won't help your real estate portfolio, Fsteve.
stevef: I believe rental prices have gone up. But Citi habitats have a horrible reputation -- deception seems to be regular business modus op for that company. So, I am not doubting rental rates going up, I am only questioning how you can refer to any data given out by such a suspect operation. don't you have any other sources to back up your assumption.
for those who dont believe the report, go and try to rent a place. you might get a good deal on a 5th floor walk up on 44th and 10th. otherwise, believe it. the prices are up up up, and there is very little inventory (atleast for what i am looking). unfortunately.
How can you believe in the love of God when your real estate investments will never recoup the value lost over the last few years?
I guess it has to do with the god you worship: the sun god Rah!
Easier (and more fun) for the resident losers to try and discount the source (and all other evidence) than admit they've been wrong about the rental market.
Jim, it's CITI HABITATS! Not even you -- not even you -- would go so low as to have anything to do with them. They have the credibility of a heroin addict.
It all seems to fly in the face of market forces, but yes, asking rents seem to be going up. I've done a search similar to ekartash and am shocked at the asking prices/spaces available. Never got so far as to negotiate so don't know if there's room to do so.
firecracka firecracka sis boom bah...kills me everytime.
even though Ive now converted to hopefull bull, How could the rental market be fully back if concessions even still exist??
heroin addicts probably have the most character and credibility of all addicts i'd say
I've just finished studying the EV 1-bd walk-up market and it seems that a decently
located decent-sized 1-bd will cost over $2600 and maybe a broker's fee as well.
That's a hugh change since June 2009
Heroin addicts are very reliable: they'll do anything to get their fix.
marco.... keep an eye on your finances... don't worry about us strategic renters... when smart people try to leave the sinking ship early, sometimes it gets crowded at the door.
You just keep sipping that shirley temple, why don't you just order a 5 course dinner. Here I'll pay for your drinks and dinner.
ekartash... hey go buy some more NYC RE, I beg you. Please just paint some walls or something.... let the adults, like me figure out when the bottom is in nyc re..... run along now.
Alan- I once saw citi referred to as being like macdonalds on this board. If I wanted to know how many fast food burgers were sold in this town at any time I'd look at that as a pretty good source of info. If I learned that they only used 25 of their stores to find some sort of composite average for the entire town I'd trust it. Because who knows that business better? Whether you like that business or not doesn't really matter.
It must make you all sick that real estate brokers are making a fucking fortune off of renters right now, after all of you crowed about our demise just a couple of years ago! LOL!