If there was ever a time when New York City's supply of housing might exceed demand, that window has long since passed: A new report tweeted by Market Urbanism shows that New York City has permitted less new housing per capita than any other major city on the Northeastern Corridor (Washington DC, Philadelphia, and New Haven among them). The housing shortage is only likely to lead to higher rents - a study found that 42 percent of New York renters paid over 30 percent of their income on rent in 2017, and these numbers will only go up as rents return to pre-pandemic levels.
Indeed, as of this writing, CityRealty listings show 4,897 publicly listed units for rent, a slight dip from last week and a dramatic drop from this time last year. The median Manhattan rent now comes in at $4,330/month. We did uncover a Chelsea studio for only $1,550/month, an incredible bargain compared to the Chelsea median rent of $4,512/month for studios, but it's a top-floor walk-up in a five-story building and has a shared bathroom in the hall.
Indeed, as of this writing, CityRealty listings show 4,897 publicly listed units for rent, a slight dip from last week and a dramatic drop from this time last year. The median Manhattan rent now comes in at $4,330/month. We did uncover a Chelsea studio for only $1,550/month, an incredible bargain compared to the Chelsea median rent of $4,512/month for studios, but it's a top-floor walk-up in a five-story building and has a shared bathroom in the hall.
In this article:
There are no state-level mechanisms to address exclusionary zoning, which The Century Foundation notes accounts for a large part of the housing problem, but work is in progress. At the end of 2021, Governor Hochul signed a package of fair housing legislation set to clamp down on explicitly racist practices. A short time later, in her State of the State address, she announced plans to legalize accessory dwelling units and spur transit-oriented development in communities like Long Island, Westchester, and the Hudson Valley.
For those who want to live in New York City, recent rezonings throughout the boroughs (Soho and Gowanus among them) will account for increased housing development that should ease the housing crunch. Additionally, while rent discounts and concessions have plummeted, CityRealty listing showed that 91 units experienced price reductions over the past week. We take a look at recently discounted units, as well as newly launched buildings with concessions in place.
For those who want to live in New York City, recent rezonings throughout the boroughs (Soho and Gowanus among them) will account for increased housing development that should ease the housing crunch. Additionally, while rent discounts and concessions have plummeted, CityRealty listing showed that 91 units experienced price reductions over the past week. We take a look at recently discounted units, as well as newly launched buildings with concessions in place.
The Arches via Nest Seekers LLC
From the Listing: Welcome to The Arches, an amenity-rich luxury rental development nestled in Mott Haven! Graced with high-end finishes and an abundance of natural light, this stunning studio apartment is a portrait of contemporary city living. Features of the home include beautiful hardwood floors and gorgeous floor-to-ceiling windows with expansive city views. The studio space is large enough to accommodate distinctive living and sleeping areas. The kitchen is equipped with white lacquer cabinets, sleek countertops, chic backsplashes, and high-end stainless steel appliances. The elegant bathroom is adorned black and white marble walls and floors, chic bronze fixtures, and a custom vanity. See floor plan and full details here.
93 Linden Street via MNS
From the Listing: Beautiful one-bedroom apartment with private balcony now available in the heart of Bushwick + no fee! Enjoy state-of-the-art kitchen featuring stainless steel appliances, granite countertops, dishwasher and hardwood flooring throughout and an abundance of natural light. Additional features include spacious living and dining room, central Heat and AC, and wonderful natural light.
Amenities include elevator, garage parking, media room, pet spa, bike room, laundry room, children's playroom, indoor lounge with game rooms, gym, and roof deck. See floor plan and full details here.
Tower 119 via Peter Ashe
From the Listing: Contemporary 2-bedroom in East Harlem's finest new development features western exposure from all rooms, hardwood floors, floor-to-ceiling windows, spacious layout, and contemporary finishes, complemented by a generous amenity package. The kitchen features beautiful stone countertops, vertical lift cabinetry, subway tile backsplash and stainless steel appliances including a dishwasher. This home also has four closets including a very large walk-in closet. The 2 bedrooms are in split layout separated by a contemporary open kitchen and ample living space to fit all of your needs. See floor plan and full details here.
252 West 74th Street via Nest Seekers
From the Listing: Bright and recently renovated one-bedroom apartment! Conveniently located between Broadway and West End Avenue, half a block to Fairways, Citarella, This charming furnished apartment features a spacious living area with ceiling fan, high ceilings, Piano, marble bathroom with tub. The kitchen comes with new and stainless steel appliances. Storage loft accessible with ladder, above bedroom. See floor plan and full details here.
81 Clifton Place via Brown Harris Stevens
From the Listing: Welcome to this stunning two bedroom/ two bathroom, one-of-a-kind loft, at the renowned Knitting Factory Lofts of Clinton Hill! With astounding 18 foot wood ceilings, exposed beams and exposed brick you cannot go wrong. The expansive great room and chef's kitchen are prime for entertaining. Beautiful skylights and a large window provide an abundance of natural light. The kitchen is complete with stainless steel appliances and granite countertops, and hardwood floors run throughout the home. The bedrooms are equally spacious with high ceilings, large windows, and ample storage. Newly renovated bathrooms, and an in-unit washer/dryer complete this home. See floor plan and full details here.
All images of Tribeca Park via 140 Franklin Street
From the Listing: Be the first to live in this turnkey fully furnished mid-century modern designer one-bedroom home at Tribeca Park! Nestled on the 19th floor, with limited uncovered terraces, this sunny home overlooks the beautiful grassy fields of Rockefeller Park and Hudson Piers to the right. The spacious and bright living and dining room features four seater velvet sectional sofa and throws; 50" smart TV; Bose Surround Sound smart Bluetooth speaker; Article marble cafe table for four and more. The kitchen features stainless steel appliances and is stocked with All-Clad pan and pots set; Wustof cutlery; Bodum coffeemaker and kettle; Black & Decker waffle and toast oven; Everyday White organic dinnerware set for eight; Bormioli Italian wine and cocktail glasses; and porcelain white tea set. The luxurious primary suite outlooks this homes private terrace, and features a writing desk and lamp to work from home comfortably while gazing out at the calming Hudson River views. See floor plan and full details here.
American Copper Buildings via NY Living Solutions
From the Listing: North-facing two-bedroom residence features views of the East River, floor-to-ceiling windows with custom shades, custom oak floors, Nest thermostat, and a Bosch washer/dryer. The SHoP-designed custom kitchen is fully equipped with Miele appliances including speed oven, custom island, custom light fixtures, statuary marble counter-top and back-splash. The primary bathroom is an elegantly designed three-fixture bath with rain shower-head and hand-shower, crocodile marble slab accent shower wall, black pearl stone floor tile, and custom light sconce with antique brass detailing.
Please note this is available as a Sublet from March 7 to end of August/September with option to renew after if interested. Renewal price would be based on current lease which is $7,600. See floor plan and full details here.
Please note this is available as a Sublet from March 7 to end of August/September with option to renew after if interested. Renewal price would be based on current lease which is $7,600. See floor plan and full details here.
All images of 200 Chambers Street via Douglas Elliman
From the Listing: Welcome home, in one of the most sought-after condo, to grand living defined in cool Tribeca style. Residence 21B is one of the most sought after two-bedroom units with direct river and harbor views. This bright and beautiful home features welcoming foyer, spacious bedrooms, grand living room, ample closets, floor-to-ceiling windows, white oak wood floors, central A/C, and washer and dryer. Open kitchen is equipped with Basaltina lava stone countertops, Viking stove and stovetop, Sub-Zero Refrigerator, and Bosch dishwasher. Spa-quality marble bathrooms are designed with mosaic marble tiles, double sink, Zuma deep soaking tub and Waterwork fixtures. See floor plan and full details here.
All images of 10 Bleecker Street via Compass
From the Listing: Impeccably gut renovated to maximize its historic character, while adding modern conveniences and high style, this expansive duplex loft residence offers airy living spaces under soaring 13-foot ceilings. Arrive on the upper level via your own private entrance and take in industrial-chic concrete floors and sleek white art walls highlighted by an original column and beam. The great room provides a spacious and sunny space for living and dining, while the gleaming white-on-white kitchen offers top-notch appliances and a massive marble waterfall island. A rustic barn door reveals a luxurious master suite on this level lined with sumptuous wall coverings and clerestory windows. A huge, fitted walk-in closet attends to wardrobe, and the en suite bathroom boasts floor-to-ceiling marble, with an oversized walk-in shower and a distinctive trough basin. Furnished rental is an option! See floor plan and full details here.
175 Franklin Street via Compass
From the Listing: This two-bed, two-bath offers a lofty living space, open kitchen, and separate dining area at just over 2,000 square feet. A private keyed elevator opens right into the space, and upon entering you will immediately notice light pouring into the large living area through oversized windows. High ceilings accentuate the openness of the space lined with beautiful hardwood floors throughout. Renovated with meticulous attention to detail, there are Nest thermostat controls in the living room, voice-activated home automation, motorized shades, and Lutron Caseta wireless light control. The contemporary kitchen features custom cabinetry, Caesarstone countertops, appliances by Sub-Zero, Miele, GE and overlooks a generously sized dining or home office area. The private primary bedroom easily fits a king bed and desk, with both bedrooms including custom walk-in closets. Available furnished short-term at $16,500/month. See floor plan and full details here.
Sheffield 57 via NY Living Solutions LLC
From the Listing: An entertainer's gem, this rare combination 4-5 bedrooms, 4.5 marble baths has open city skyline views! Natural sunlight bathes this very large living room. The windowed kitchen includes sleek Poliform cabinetry, Sub-Zero refrigerator, one Bosch cooktop and two ovens, and Miele dishwasher. The en suite primary bath includes gorgeous Travertine floors, walls, and countertops, double sinks and vanities, separate glass shower, and deep soaking tub.
See floor plan and full details here.
One Hundred Barclay Tribeca via Serhant
From the Listing: Welcome to this never before lived in 4-bed, 5-bath unit with private terrace and gas BBQ. Boasting high-end finishes, saturated in natural light, this home is an exemplar of modern city luxury and is available for rent with immediate occupancy. Features of this 2,945-square-foot apartment include beautiful wide white oak floors.The kitchen comes graced with Calacatta gold marble countertops and backsplash, custom cabinets and hardware, island that seats six, and appliances by Sub-Zero, Wolf and Miele. The primary suite has walk in closets and a sublime en suite bathroom with radiant floor heating, polished calacatta gold marble floor and wall tiles. A very large storage room is included with this rental on the same floor. See floor plan and full details here.
The Beekman Regent via Douglas Elliman
From the Listing: PH8 is the crown jewel of The Beekman Regent. This sun-drenched duplexed penthouse is perched atop one of New York City's most prolific and coveted buildings. The elevator opens directly into the foyer of this show-stopping home. You will be blown away by the sweeping eastern river views and the southern light pouring in to the massive great room which spans across the library, living and dining room. This unique space offers soaring high ceilings, herringbone hardwood flooring throughout, oversized tilt and turn windows and beautiful molding detailing. At 4,473 square feet, this grand home offers the perfect flow for entertaining and living. The library, living and dining rooms are adjoined and feature not one, not two, but three wood-burning fireplaces! See floor plan and full details here.
5 NYC Buildings Offering Months of Free Rent
All images of Magnolia DUMBO via Williams New York
Up to 2 months free rent on a 24-month lease! All units feature interiors by Morris Adjmi Architects, warehouse-style sound attenuating windows, ceilings up to 10 feet high, kitchens with Bosch appliances, baths with custom vanities, and in-unit washer/dryers. Amenities include an attended lobby, 23,000-square-foot private park, game room with billiards table, indoor media lounge, and terrace lounge with outdoor fireplace. See all details here.
7 Dey Street, Financial District
Studios Starting at $4,520 | 1-Beds Starting at $4,631 | 2-Beds Starting at $7,778
2 months free rent
All images of 7 Dey Street via SL Green
Now offering 2 months free rent! All units come with wall-to-wall windows, white oak flooring, custom kitchens, designer baths, and in-unit Bosch washer/dryers. Floors 31 and 32 are dedicated to residential amenities, which include co-working areas, a conference room, a fully equipped fitness center and hot yoga studio, two indoor lounges with outdoor terraces, and a roof deck with grilling stations and glimpses of City Hall Park and the Midtown skyline. See all details here.
All images of Maverick Chelsea via Douglas Elliman
Now offering 1 month free rent and 1 month OP! All units feature interiors by DXA Studio with oversized turn and tilt windows, ceilings up to 10 feet high, white European oak flooring, kitchens with custom cabinetry and stainless steel appliances, and in-unit washer/dryers. Amenities include attended lobby, state-of-the-art fitness center, 60-foot lap pool, sauna and steam room, library, lounge, billiards room, children's playroom, rooftop terrace, and outdoor kitchen. See all details here.
All images of Fifty11 via Modern Spaces
Up to 1 month free rent on an 18-month lease! Fifty11’s mix of studios, one and two-bedroom units offer an appealing blend of elegant contemporary design and well-conceived craftsmanship, read for you to make your own home. Features include gourmet kitchens with stainless steel appliances, in-unit washer/dryer, and central heating and air conditioning. Amenities include courtyard, package room, fitness center, and lounge. See all details here.
All images of The Dime via Douglas Elliman
Now offering 1 month free rent! A combination of the landmarked Dime Savings Bank and a new 23-story tower, The Dime brings an exciting new development to Williamsburg. Studio through three-beds’ interiors enjoy high ceilings, floor-to-ceiling windows, and mesmerizing views of the Manhattan skyline and Williamsburg Bridge. The fifth floor is home to an indoor half basketball court, outdoor gaming terrace, indoor/outdoor fitness center, and a sprawling terrace with grills, gardens, and skyline views. See all details here.
SL Green Realty Corp.
(212) 977-XXXX
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