Larger residences and apartments in doorman buildings remain the top performers.
Tag: market
The luxury rental segment continues to outperform. ‘Amenities’ and ‘space’ remain the buzzwords for many of today’s renters.
The NYC rental market had an unbelievable run in 2021. Just when many thought it was down for the count, it came roaring back to life.
In Manhattan, limited inventory and rising rents tempered activity. Brooklyn inventory continued to drop as year-over-year prices increased.
Rents increased year-over-year in both boroughs, but some segments have bounced-back faster than others.
Rents in Manhattan and Brooklyn inched up 5% and 6%, respectively, since August, signaling a shrinking inventory — down more than 60% from 2020.
Leasing velocity slowed in Manhattan and Brooklyn during August, and rents in both boroughs are still down slightly when compared to last year.
In step with the rest of the market, Brooklyn’s townhouse scene enjoyed a robust first half of 2021, reaching the highest half-year level in over five years.
The rental market across New York City continues its rebound: Compared with June, Manhattan and Brooklyn rents were up and inventory was down.