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The activity is picking up big time but there is still a huge amount of inventory to be absorbed.
April 2021 saw the largest number of new leases ever recorded, encouraged by the continuous price drops.
There were 9,087 New Lease Signings by the end of April, nearly seven times more than the same period a year ...
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Manhattan retailers are still waiting for the return of tourists to 5th Avenue and employees to Midtown offices, but some retail corridors outside of the central business district have seen metrics return almost to where they were before the pandemic.
Vacancies and rents in the Bronx’s main retail area, Fordham Road, are near normal, the New York Times reported. The vacancy rate is 3 percent, according to the Fordham Road Business Improvement District.
Meanwhile, in Brooklyn, new residential development has aided projects ...
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The renters are coming back to New York City in a big way, thanks to near record low concessions, falling rents, and lots of vacant apartments. Last month, new lease signings in Manhattan surged to their highest total for a February since the Financial Crisis in 2008.
(source: birckundergorund.com)
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Manhattan’s vacancy rate climbed to 5.1 percent in August, according to Douglas Elliman’s monthly rental report produced by Miller Samuel Real Estate Appraisers & Consultants.
It’s the first time Manhattan vacancy has reached this level in the 14 years that Miller Samuel has tracked its rental market, and the fourth consecutive month that the number of uninhabited rentals have set a new record.
The number of deals with concessions or owners paying the broker fee jumped to 59 percent last month from ...
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In Manhattan, the drops were stunning. July contracts for co-ops priced between $4 million and $5 million were down 94 percent from the same month last year. No contracts were signed for condos above $20 million. Across all price brackets, condo and co-op contracts were down 56 percent.
But in Brooklyn — where New Yorkers often migrate to in search of bigger homes and more open space — the numbers surged: 178 new condo contracts in July, up from 147 last ...
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Sensationalism helps sell news, garner headlines and win clicks. And sensationalism has reached real estate these days. Yes, we have an evolving real estate market as we went through the lockdown and emerged from it; so it is easy for some news outlets to publish partial information to make it look like the end of the world is looming.
Bloomberg reported that a quarter of the city’s apartment renters haven’t paid since March, according to the Community Housing Improvement Program (CHIP). ...
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