Bidding Wars And Broken Promises: New York City’s Rental Market Bites Back

Nigeria News News

Bidding Wars And Broken Promises: New York City’s Rental Market Bites Back
Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Bidding wars and broken promises: New York City's rental market bites back by Noah_Kirsch

  • 📰 Forbes
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 53%

Median rental prices in Manhattan were down 18.5% year-over-year in April, according to the most recently available Elliman data; Brooklyn was down 16.2%, Queens 13.1%. Those discounts helped propel the number ofBut for some tenants looking to move into hot spots, it’s been hard to find a new place to live.

“It’s new listings coming into those most-coveted type areas,” says Hal Gavzie, the executive director of leasing at Douglas Elliman Real Estate, of the heightened competition. That includes Boerum Hill and Cobble Hill in Brooklyn, and the West Village, Meatpacking District, SoHo and Tribeca in Manhattan.

“We’re in a little bit of a scarcity moment,” he says. “You go to StreetEasy, and you type in ‘Park Slope, any budget, three bedrooms, two baths and a washer/dryer,’ and you’ve got eight listings.”

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Forbes /  🏆 394. in NG
 

Noah_Kirsch I want live New York !!!

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines



Render Time: 2025-01-12 09:47:35