market conditions: The Most Expensive Manhattan Neighborhood for Renters Is... - 10/16/14 12:27 AM

Rental listings site Zumper is back with a new report (warning: PDF!) that details just how much one-bedrooms and two-bedrooms cost in various New York City neighborhoods. And the winner (Or is it the loser? If you're paying a lot to live there?) is... the Flatiron District, with a 1BR median rent of $4,200/month. It is closely trailed by Tribeca ($4,195), Dumbo ($4,040), NoMad ($3,795), and Chelsea ($3,793).

For more affordable rentals, eyeball the bottom of the list, where areas like Forest Hills, Brighton Beach, Rego Park, Central Harlem, and Bed-Stuy reside.

When you look at Zumper's figures for the rest of the country, just take … (0 comments)

market conditions: 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)

market conditions: NO VACANCY: PRO TIPS FOR THE SMALL LANDLORD SEEKING A RENTER - 06/25/14 02:21 AM
 
One of the hardest parts of renting out an apartment is finding a good tenant; these four methods are your best bets
If you're looking to rent out the top floor of your brownstone or sublet your apartment during a posting abroad, you'll no doubt want to find a respectful, financially stable renter.
But where's the best place to lock one down? Take a cue from professional property managers and landlords, who let us know the best ways for smaller owners to locate good tenants.
Post an online ad: The easiest way to reach renters is, not surprisingly, by posting ads on any number … (1 comments)

market conditions: Mapping the Median Rents in New York City - 11/06/13 12:13 AM

[Median rents for 1BRs and 2BRs]
The number crunchers over at rental listings website Zumper, in addition to finding New York City's cold pockets and figuring out how much money your commute saves you, have put together these more straightforward infographics identifying the median rent for the past month in each Manhattan neighborhood (as well as a few in Brooklyn and also Astoria). The breakdown: the median price this past month was $3,150 for a 1BR and $4,398 for a 2BR. The most expensive neighborhood was Tribeca (no surprise there) for both 1BRs ($4,180) and 2BRs ($6,275), while the second and third spots for 1BRs went to Greenwich Village and … (0 comments)

market conditions: New Listing Featuring a VIDEO TOUR - EAST 90S & 3rd Avenue - Below Market Value - 11/03/10 12:14 AM


Just hit the market...Upper East Side One Bedroom Rental...VIDEO TOUR...East 90S & 3RD Avenue

Well maintained walk up building, fourth floor unit, newly installed video intercom system, separate eat in kitchen including appliances, tiled bathroom, large living room featuring a southern exposure view, 12' X 12' bedroom - can fit a queen size bed and extra furniture, original prewar detail, new hardwood floors, live in super, three blocks away from the 6 line!

Shown by appointment only - beginning November 3rd!

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market conditions: The Renter Roadblock - 03/09/10 01:39 AM
At the Chelsea Modern, a new condo on West 18th Street, renters are being encouraged to become owners by a 10 percent discount.  
IT seemed like a smart idea at the time.
Enlarge This Image
The apartment was lovely — new construction, three bedrooms, three and a half baths, nearly 2,000 square feet on the Upper East Side. The asking price was $2.995 million. A year earlier it would have gone fast.
But this was early 2009 and the economy was in tatters. Offers were pathetic — the best, $2.2 million. Forget it, the owners said. We’ll rent the … (1 comments)

market conditions: Townhouse sells at highest price since summer - 01/20/09 01:39 AM
 
 
 
Janna Bullock's townhouse at 9 East 67th Street, at Fifth Avenue, spent nearly three years on the market before closing for $14.925 million, the highest price on an Upper East Side townhouse since the summer. Bullock, a developer, put it on the market unrenovated and invited decorators to dress it up. She took it off the market to renovate the interior and worked with a series of brokers. The townhouse finally sold after Bullock got permission from the Landmarks Preservation Commission to recreate the house's old limestone front stoop and entryway. Broker Richard Steinberg of Warburg Realty brought … (1 comments)

market conditions: Staff studio in 15 CPW sells for $1.55M - 01/20/09 01:33 AM

15 Central Park West  
THE bull market for Manhattan real estate is alive and well, at least for that unusual and hard-to-find accommodation, the lowly maid’s room.
Property records show that a 448-square-foot staff studio, or maid’s room, facing an inner courtyard at 15 Central Park West sold for $1.55 million in December. That is close to the average price paid for a two-bedroom apartment in Manhattan in the fourth quarter of last year, according to figures compiled by Prudential Douglas Elliman.
The sales contract was signed in mid-November, as automakers were seeking a federal bailout and economists were … (1 comments)

market conditions: Due to slow sales, condo turns into hotel - 12/01/08 03:56 AM
 
 
Jasper rendering
 
Sales started last year at the Jasper condo, at 114 East 32nd Street, between Park and Lexington avenues, but developer Harry Jeremias is now returning deposits to buyers and turning the building into a boutique hotel. Just 43 of the 80 units were in contract, and faced with an uncertain market and the need to provide millions of dollars to cover cost overruns, Jeremias decided to pull the project. The developer has entered into agreement with a European investment fund to convert the 18-story building into a 200-room hotel expected to open in a year. The hotel plans will … (5 comments)

market conditions: Soho penthouse now 50 percent less than asking price - 11/26/08 12:37 AM
One year ago, a duplex penthouse at 43 Wooster Street was listed at $12.5 million. Now, the 2,600-square-foot unit is on the market for $5.9 million. The two-bedroom, two-bath apartment suffered two price reductions in the last week, down to $6.995 million and then finally, to $5.9 million. The owners bought the penthouse for $4.171 million in 2006.
 
43 Wooster Street
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market conditions: Listings up, sales down in Manhattan - 11/24/08 06:09 AM
The number of apartments that went into contract or had accepted offers in Manhattan in October fell 20 percent from September, and declined 62 percent compared to October 2007, according to the Corcoran Group. The number of listings in Manhattan rose 33 percent in October compared to the same time last year, according to Miller Samuel. Jonathan Miller, president of Miller Samuel, said because of the lag time between contract signings and apartment closings, about 45 days, sales figures won't reflect the price decline in the market until the first quarter of next year.
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market conditions: Residential market halts in its tracks - 11/14/08 03:20 AM
Wall Street's recent wild volatility has caused the New York City real estate market to freeze in its tracks, with sales volume screeching to a halt and deals falling apart as potential buyers have watched their net worth evaporate. With the passage of the $700 billion financial rescue package on Oct. 3, analysts hoped the nationwide economy, mired in the credit crisis and housing slump, would show signs of improvement. Instead, the stock market saw wild volatility throughout the month of October, with frequent, jaw-dropping daily moves of 400 and 500 points. By late October, arguably the worst financial crisis since … (0 comments)

market conditions: Renter's Market in Manhattan? Manhattan vacancies at 12-year high - 11/13/08 08:21 AM
Vacancies in Manhattan apartments increased from 1.46 in September to 1.71 percent in October, a 12-month high. While Battery Park led all neighborhoods with a vacancy rate of 2.02 percent, vacancies were up in each of the other 10 neighborhoods tracked by Citi Habitats, including always popular neighborhoods like the East Village and the Upper West Side.
There is also some downward pressure on rents, perhaps due to the uptick in idle apartments. Average rents for studios, one-bedrooms, two-bedrooms and three-bedrooms all fell modestly from September to October. Some neighborhoods are falling faster than others, however, and some of the most … (2 comments)

market conditions: New York's 20 Most Expensive Rentals - 11/08/08 05:48 AM
The stock market is down nearly 500 points this afternoon, we're in the middle of a deep recession, and tens of thousands of New Yorkers have lost their jobs. But if by some crazy chance you've managed to avoid the pain and suffering and you're looking for, say, a five-bedroom penthouse in Midtown, it's never been a better time to swoop down and make an offer. The prices of dozens of luxe apartments have been slashed in recent weeks. And while the rental market hasn't been crushed just yet, prices are very, very negotiable. That $60,000-a-month rental? You might just be … (0 comments)

market conditions: Landlords worry Senate will eliminate decontrol - 11/07/08 02:38 AM
Landlords in the city are afraid the now Democratic-controlled Senate will eliminate the vacancy decontrol law. Housing advocates expect to make a push to get rid of the law -- which allows landlords to charge market rates for rent-stabilized apartments once the tenants move out and the rent reaches $2,000 per month -- in the next legislative session. Landlords believe eliminating decontrol measures would harm real estate investment in the city, and hurt developers who were expecting to eventually convert apartments into market rate.
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market conditions: Rents down, inventory up in October - 10/29/08 02:11 AM
Seasonal trends are not enough to explain the decline in Manhattan rents and the increase in inventory seen this month, and concessions from landlords have not been enough to correct a slowing market, according to the October Manhattan rental market report from the Real Estate Group.Rents in non-doorman one- and two-bedrooms and doorman studios and one-bedrooms are down from their October 2007 levels. The doorman studio submarket has been hit particularly hard, with a 7.23 percent decline from last October.Only non-doorman studio and doorman two-bedroom rents have increased since October 2007, the report said.In Gramercy Park studios and Lower East Side … (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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