Almost 99 percent of Manhattan rentals are currently occupied, according to a new market report.
The vacancy rate is now 1.07 percent, the lowest it has been in three years, Citi Habitats reports.
Last year at this time, Manhattan vacancies were at 1.17 percent.
Read the whole article here.
13 comments:
Does this vacancy rate include all the walk up buildings with empty apartments that are warehoused ?
Thanks AirBnB!
I'm outta here in July, so my large east village one bedroom @ $1200. Will soon be a 2 bedroom dorm for $4995. The catch is you got to own a bank to get it!
So long suckers!
I wonder if anonymous took a buy out...
I have to admit I'm paying way less than $1200, and the buyouts are paltry for the 40+ years family has been here, wonder if landlords would prefer razing of buildings via 'accidental' explosions??
Good point, ShutUpHooker; sometimes the best thing is to just clear the slate—so to speak—and start over.
I'm surprised the article didn't blame rent stabilization for causing market rents to be inflated and depressing the vacancy rate.
I don't want to leave my home. As much as I hate what is going on around me I intend on fighting against sports bars and pretend restaurants which are really just bars. If I was a quitter I would have left the EV 30 years ago when it was a crime and drug infested place. When people organize we can make a difference, look at the community gardens and renovation of our city parks which were shanty towns in years ago. Those that are leaving a rent stabilized apartment to make a statement I suspect you have other reasons other than to flip the city off. Enjoy Portland or wherever. Once you leave you will never (be able) to afford to come back.
Yeah, Scuba Diva, cos God knows rent-stabilized tenants are the *real* problem in this city, at least according to a certain substrate of writers. Cos God forbid they want to, y'know, continue living in what, over the years, has become their home rather than just an apartment, and in a neighborhood where they have friends, and are familiar with shops and shopkeepers, instead of allowing themselves to be uprooted and displaced to a strange location in order to enrich some landlord or LLC that doesn't give a damn about anything except squeezing yet more profit into their bank accounts, without any consideration for peoples' lives.
99% occupied huh? You know what? I don't blame landlords, rental brokers, developers etc. for the high rents, I blame the people who obviously are willing to pay those high rents to the tune of 99% occupancy rate.
The reason for high rents is simple:
Enough people think NYC is "it" when it is not or doesn't have to be, where they're willing to pay those high rents. Simple as that.
If Dave Chappelle who can afford to live anywhere can live on a farm right outside of Dayton, Ohio, why can't Joe/Jane College Graduate from Peoria, IL, live in Chicago, Pittsburgh, or GASP! Peoria? Why do you HAVE to live in New York? Because or some ridiculously taken to heart/as literal verse in a song written for not by Frank Sinatra when you didn't have to be rich or even fork over 30% or more of your take home pay towards rent? That went for everywhere in America back then.
No one wants to build something where they're from anymore or enough people don't want to build something where they're from where rents in New York and other cities like Boston, Denver, and Seattle are high as well. Everyone wants to move to the big city and be Clark Kent (go from Smallville to Metropolis) only they're not Supermen, and Clark didn't move to Metropolis to "make it".
Come to StyeTown, we have apartments aplenty.
@10:18, your xenophobia is appalling. people have a right to move and live wherever they want in this country. both people of exceptional talent and utter low-lives made this city great once. rich people made it and so did the poor. small town hicks and big city natives alike.
you should focus your venom on the folks who simply want to get rich by any means necessary, by exploiting thriving neighborhoods and cities with no regard for the balance required to sustain a diverse urban environment. don't ride such a high horse just because you happened to be plopped out after nine months of gestation within the five boroughs. and i say this as a nyc native.
Yes, I got a buyout, I contacted the landlord. I got more then I mske in a year & free rent until I leave. I felt a fool for overpaying for life's necessities from food to utilities. There are a handful of things I'll miss, but I can always visit, I love things about London & Tokyo but dot have to live there. I'll be back for visits without haveing to live in this gready impersonal mess. I feel I grew and enjoyed the best of what the 'hood had to offer.
Ill move back when the "luxury" apartments are squats. Good luck to you all!
Well, I remember when the LES was shunned.
The high rents are designed to turn apartments over quicker, and the demographic invading the city are part of the problem. They're not moving here to be New Yorkers, they're here for a year or two - "the experience."
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