Continued softness in NYC rental market

Posted by:

Continued softness in NYC rental market

Rental rates in New York dropped 3.7 percent in 2017 though most Bronx neighborhoods bucked the city-wide trend, with a few areas seeing double-digit increased like Highbridge (up 22 percent), Mott Haven (up 15 percent) and Woodstock Uup 15 percent). (Source: Zumper)

According to TOWN Residential, the best place for bargain hunting in the borough is the Upper West Side, which had the highest concentration of concessions (e.g. free rent or owner-paid incentives) at 15.3 percent.