downtown: Three Cents Worth: The Ripple Effect When Rents Dip and Rise - 09/24/14 11:44 PM


 
This week's chart plots the vacancy rate and landlord concessionsagainst the change in rental prices. To be clear, Manhattan's vacancy rate has remained nominal for decades, hovering around 2 percent, but we get excited when market reports hype up the rise and fall by a few tenths of a percent. The vacancy moves are more subtle than the hype suggests, but they shouldn't be completely ignored.
Understanding the rental market is a little easier if the sales market is seen as a competitor (hint: people either rent or buy, so they affect each other). Last fall's Manhattan rental market saw weaker … (1 comments)

downtown: What Would $50 In 1940 Rent A New Yorker Today? - 09/18/14 03:43 AM
With the average Manhattan rent hovering around $3,800, it can seem impossible that there was a time when one could find a whole apartment for $500 to $600 a month, let alone something in the double digits. But throughout the 1940s, rents average a mere $50 per month, with many places costing even less than that. But how far would that $50 take you in the next decade? Or the 1980s? Or even today?
To figure that out (in a very unscientific way), we calculated how much $50 of 1940s currency would be throughout the following decades, and then we searched through archived Village Voice classifieds to find apartments that fit … (2 comments)

downtown: NYC'S MOST UP AND COMING NEIGHBORHOODS - 04/17/14 01:27 AM
No other city changes as quickly as New York City. It's easy to feel behind on the latest trends, restaurants and hotspots. As Manhattan luxury apartment specialists, we're happy to provide you a bit of foresight into NYC's most up and coming neighborhoods.
Lower East Side

What it Was: 
Just south of the East Village, the Lower East Side used to be an immigrant/working-class neighborhood in the 80’s and 90’s.
What's Changed: 
Beginning in the early 2000’s, the LES started developing with lots of trendy restaurants and bar life.
What's Coming (photo above):
The once vacant parking lot on Delancey Street will become The Essex Complex … (0 comments)

downtown: Google searching for another 600K square feet of office space - 04/14/14 05:25 AM
Less than a month after signing for an extra 75,000 square feet at Chelsea Market, Google wants more. The tech giant is in talks to lease up to 600,000 square feet in Manhattan.
This level of office space expansion would mark an 80 percent growth in the company’s operations, the Wall Street Journal reported. Google’s New York offices currently are based at 111 Eighth Avenue and inside Chelsea Market.
Two potential new office outposts could be the New York Daily News’ former digs at Brookfield Office Properties’ 450 West 33rd Street, or the former freight rail terminal known as Eugene Grant’s … (0 comments)

downtown: Union Square/Gramercy Park Irving Place One Bedroom Rental - 03/19/14 02:10 AM
East 17th Street & Irving Place Bi-level 700 SQFT April 1st
Well maintained walk up building, second floor bi-level unit, large open living room with a storage closet, separate kitchen including appliances, tiled bathroom, dining alcove area, high ceilings, 12' X 12' bedroom - can fit a queen size bed and extra furniture, three closets total, hardwood floors, live in super, laundry room in building, excellent Gramercy Park location; near all transportation, restaurants, the East Village, downtown, Madison Square Park, FlatIron, NYU, SoHo, and Union Square! 
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downtown: Chinatown, Little Italy Too Tough for Tourists to Navigate - 02/09/11 06:56 AM
Chinatown and Little Italy need to do a better job of helping tourists navigate their neighborhoods if they want to become more successful tourist destinations and drive up economic growth, a coalition of local business groups announced Tuesday.
A recent survey by the Two Bridges Neighborhood Council, conducted late last year at an informational kiosk at Canal and Baxter streets, showed that the majority of those using the kiosk were confused by a map of the area and weren't able to locate the historic neighborhoods' main shopping corridors.
The survey, which drew the data from 100 interviews, found that visitors often … (1 comments)

downtown: Brand New and Reduced Listings Available for Rent - 11/11/09 03:53 AM
Brand New and Recuded Listings Available for Immediate to Decmeber 1st Occupancy
Contact JAD Realty Group to schedule an appointment.
610-781-8417
www.jadrealtygroup.com

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downtown: Renters move back to Manhattan - 05/12/09 01:57 AM
Great Recession prices are drawing even the most loyal outer-borough dwellers back to Manhattan. The migrants hail from Hoboken, Astoria and the brownstone blocks off Prospect Park, as New Yorkers who found themselves priced out of the gilded isle in the boom years are bidding farewell to long commutes and skinny-jean chic.
Among the lures: $1,600 one-bedrooms on the Lower East Side. Lenient landlords who no longer require security deposits. And an overriding sense that an obscenely overpriced borough is now, well, slightly more reasonably overpriced.
“There’s a part of me that feels like I’m cheating on Brooklyn,” said Keith O’Brien, … (0 comments)

downtown: Buying a condo, one piece at a time - 12/12/08 12:45 AM
 
New rent-to-own programs are allowing tenants to use their rent toward down payments  
In the rent-to-own program at the Decora in Williamsburg, all rent goes toward the down payment.
As the market sours and potential first-time buyers become more indecisive about whether it makes sense to plunk down money for a purchase, some developers are allowing them to hold off on the big decision. Those developers, who are predominantly in Brooklyn, are trying to woo would-be buyers with deals that allow them to rent a unit in a condo building while at the same time putting their monthly rent … (1 comments)

downtown: During down market, trade up - 12/12/08 12:28 AM
Brokers say the down commercial market is a good time for companies to trade up to better buildings and better built-out spaces. A large downtown block of space that's available and fully built-out is Citigroup's 1.2 million square feet at 125 Broad Street, at South Street. Citigroup notified landlord Mack-Cali Realty Trust that it won't be renewing its space there at the end of 2009, and can make space available sooner as some of the floors are sitting empty.
 
125 Broad Street
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downtown: Condo conversions slow in FiDi - 12/12/08 12:23 AM
Condo conversion development in the Financial District is slowing down. During the first nine months of this year, 2,278 converted condo units in FiDi went on the market. Coming up in 2009, there are only five conversion projects scheduled to open, according to the Downtown Alliance, all with less than 15 units each. The bulk of big residential projects expected to open in the area over the next two years are new developments, including a 189-unit building at 201 Pearl Street scheduled to open next year. Marketer Michael Shvo attributes the condo conversion slowdown to the cessation of tax abatements, the … (0 comments)

 
Jeffrey Ditri, New York City Residential Rental Specialist  (JAD Realty Group, LLC.) Rainmaker large

Jeffrey Ditri

New York City Residential Rental Specialist

Manhattan, NY

More about me…

JAD Realty Group, LLC.

Address: 1386 Lexington Avenue , ny, ny, 10128

Office: (610) 781-8417

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