Friday, January 8, 2010

East Village rents fell in 2009

In his Mixed Use column this week at The Villager, Patrick Hedlund summarizes 2009 in rent...

The East Village and Lower East Side experienced the steepest residential rent drops of any Downtown neighborhoods last year, making them among the most desirable areas across Manhattan for discount-driven renters. According to the Real Estate Group New York’s year-end rental market report, the East Village and Lower East Side saw average decreases of 5.98 percent and 6.25 percent, respectively, for all doorman and non-doorman unit types combined in 2009. Doorman studios led the downward trend in both neighborhoods, with such units falling by 12.1 percent in the East Village and 22.4 percent on the Lower East Side over the past year. Over all, the East Village recorded drops for each one of its unit types, while the L.E.S. saw modest gains for non-doorman studios and two-bedrooms only (up 1.1 percent and 1.7 percent, respectively).

So can we say now that rent is just really expensive instead of unfucking-believably expensive?

1 comment:

prodigal son said...

This is really good news. But its not enough.