Total glut of 3BRs in TriBeCa and BPC

Obviously too much

Hoodia, Post a few examples please.

"excess inventory" = ? ? ? ?

The funny thing about this market, pick the "right apartment" to bid on and it's 2014 all over again. Aggressive multiple bidding. Overall though things have normalized and buyers are finally getting some breathing room. Glut of 2/ 3 bedrooms is not happening anywhere , certainly not downtown.

Keith Burkhardt
The Burkhardt Group

SE search results just performed

43 Battery Park City and Tribeca Real Estate & Apartments for Sale - With 3 Bedrooms Listed Less Than 60 Days Ago

That is not a lot.

You all are right and I was very unclear. I am looking at rentals. Tons. Latest I saw was 456 Washington. Strange location.

For the purchase market, especially downtown, all the new condo developments

we show Tribeca 3+bed inventory +27.3% yoy - here is link, although I dont think it will work in this forum - https://www.urbandigs.com/chart.php?type=ACTIVE&nbhoods%5B%5D=TriBeCa&proptype%5B%5D=all&price=all&bdrms=3

Related's newest at 456 Washington didn't get the memo and you can't even get less than a 2. But I was told Glenwood which seems to know what it is doing doesn't have anything larger than a 2

At its brand new Encore.

Maybe has something to do with the good schools in TriBeCa, vs around the corner from the Amsterdam Houses.

Related and other landlords seem to have trouble now that school has started. 30 Park Place has a dozen or so 3 BR rentals.

September 1st is historically the number 1 move-in date in NY. Then it drops off dramatically over the next 4 months. With all the new construction from what I can tell there was plenty of September 1st availability which didn't get rented. That will carry over and be added to the October 1 rentals. We may not be seeing a very pretty 4th quarter in this rental market.

The new Glenwood buildings are asking pretty astronomical rents though. Least expensive 2BRs are 7300 a month. Yeah you have Lincoln Center next door but then across the street are the housing projects. Plus you have to pay extra to use the gym in the building.

we live in a glenwood building for a couple of years now. the starting rents were a little high. but they have been pretty okay with rent increases. i think there is a glut of 3beds rentals is a stretch, but there is definitely some more flexibility on price.

30 Park Place!

Hoodia, Congratulations!! You are doing well to be looking at $8 per sq ft rentals.

hmm, $8 psf. I wonder if someone doesn't know how prices on rentals are quoted.

Everything is flat now and there are a lot of new buildings with concessions. Just in marginal or horrible areas and more 1 beds than. 2s and 3s.