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It Looks Like NYC Rents Have Bottomed Out (and May Stay Low)

It Looks Like NYC Rents Have Bottomed Out (and May Stay Low)
curbed.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from curbed.com Daily Mail and Mail on Sunday newspapers.

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The End of New York City? The Latest Rental Data Says Otherwise

Mansion Global
Leasing in Manhattan and Brooklyn soared in April to record levels
By V.L. Hendrickson
|
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Lorenzo Mattei / Getty Images
April marked Manhattan’s busiest rental market in more than a decade, according to a report Thursday from Douglas Elliman.
There were 9,087 new leases signed last month, an 82.3% month-over-month surge and the highest level the metric has stood at since the real estate agency began tracking the data in 2008.
New lease signings were also up 546% compared to April 2020, when the city’s economy was “on pause” because of the Covid-19 pandemic.
Nevertheless, prices continue to decline a major incentive for tenants to trade up and into more desirable neighborhoods, the data showed. ....

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Manhattan's real estate agents take up TikTok to find renters

Manhattan's real estate agents take up TikTok to find renters
thestar.com.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestar.com.my Daily Mail and Mail on Sunday newspapers.

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Manhattan Real Estate Agents Turn to TikTok to Find Renters

New York real estate professionals are turning to the social media app to find tenants.
Bloomberg | Mar 05, 2021
(Bloomberg) TikTok isn’t just a platform for dance videos and investment advice. It’s also a place to hawk Manhattan apartments.
New York real estate professionals are turning to the booming social media app to find tenants in a market where units are piling up amid near-record vacancies. For some, the 60-second videos have changed their jobs completely.
Madison Sutton, an agent at Highline Residential, had just 5,000 TikTok followers in October, when she decided to start taking the app more seriously. Today, she’s up to more than 90,000, and deals sourced from TikTok account for her entire business. ....

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