Quite simply, there is intense demand for housing in New York City—people want to be here.
Tag: NYC
New York City
Competition for apartments in doorman buildings and in prime locations can be intense, with units leasing sight-unseen or over-asking.
Four of the six Brooklyn areas analyzed set new single- or multi-family townhouse sales records.
Both markets experienced a historically high number of closings while pricing and sales volume soared to record high levels.
The Manhattan townhouse market bounced back in 2021 to reach the highest number of closings in six years.
Larger residences and apartments in doorman buildings remain the top performers.
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.