NYC landlords continue to offer rent discounts as market softens

February 20, 2017 | by Emily Nonko
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Douglas Elliman has released its rental report for the final month of 2016, showing that the rental market did not end the year with a bang. “There’s stress in both Manhattan and Brooklyn rentals,” says Jonathan Miller, the man behind the numbers. December marked a record amount of leases signed with concessions, 26.4 percent. That’s double the amount from the same time last year, which saw 13.1 percent of leases with concessions. Despite all that, the median rent in Manhattan is still higher than it was last year: $3,388/month as compared to $3,350. (The December median changes to $3,291 when you factor in concessions.) The median price for a studio was $2,575/month, a one bedroom came in at $3,395, a two bedroom at $4,588 and a t... Read More

NYC's Best Neighborhoods for Dogs and Their Owners

February 20, 2017 | by Mariela Quintana
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Major sporting events come and go in NYC without much fanfare. The Major League Baseball All-Star Game or Kentucky Derby — who cares? Not much fazes the cynical spirit of New Yorkers. But when it comes to dogs, watch out. Yep, for all our disinterest and apathy, nothing melts our hearts more than the Westminster Dog Show, which will be taking over Madison Square Garden this weekend. There’s something about the earnestness of the dogs trotting around in concentric circles, the gravity of their loyal masters and, of course, the pure puppy zeal of the winning pooch that just gets us. Dogs! New Yorkers love their dogs dearly, but the city can be a challenging environment to raise one. To assist all the dedicated dog owners out there, StreetEasy ha... Read More

NYC’s top 10 wealthiest ZIP codes will surprise you

February 20, 2017 | by Diane Pham
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There’s no argument that Tribeca is home to the priciest real estate in all of New York City, but when it comes to wealth as measured by median net worth and household income, its residents don’t even register in the top 10. A new study by ESRI conducted for the NY Business Journal reveals that 11363—or Little Neck, Queens (where Governor Cuomo once owned a mansion, to give you and idea)—is, in fact, New York’s richest ZIP code. Here, the median household income clocks in at an impressive $94,192 with median net worth reaching $326,104. A mansion in 11363, Douglaston, Little Neck, Queens Several Manhattan ZIP codes did come in at the top, but they might not be the ones you’re thinking. According to Esri, the 10 w... Read More

New: Search for Apartments Near Second Avenue Subway

January 23, 2017 | by Mariela Quintana
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For many weary, commute-harried New Yorkers, the newly opened Second Avenue subway line has been met with overwhelming positivity and warmth – a rare reception for this time of year in the city. According to Curbed, “The Second Avenue Subway Wows Commuters;” The New York Times calls it “a train dream come true” and Wired exhorts its readers to “Step Into the Comfiness of the Second Avenue Subway (Yes, Comfiness.)” Search for listings near the new line In anticipation of Second Avenue subway’s opening, last November we released a comprehensive study the impact the new line will have on the rental market around Second Avenue. In addition, we updated our site’s search functionality so buyers and renters ... Read More

StreetEasy's 2017 New York Housing Market Predictions

January 9, 2017 | by Streeteasy Team
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Every year, StreetEasy predicts trends that will be driving the New York City real estate market in the coming year. A year ago, we predicted that 2016 would be the year of the luxury market slowdown and slower price growth across the board, fierce competition in Upper Manhattan and a greater rent burden for Brooklynites. Heading into the New Year, we dusted off our crystal ball – that is, our extensive market data – to forecast some of the leading trends that will shape the city’s sales and rental markets in 2017. Manhattan Sales Market Will Have Slowest Growth of All Boroughs Where high demand and high-priced inventory kept Manhattan resale prices soaring over the past few years, luxury is now what’s dragging the marke... Read More

NYC Real Estate Experts Offer Their 2017 Predictions

January 9, 2017 | by Emily Nonko
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CityRealty spoke with New York City real estate experts—everyone from developers to architects to contractors to brokers—on their predictions for the upcoming year in the city’s ever-changing real estate market. From the presidential election of real estate magnate Donald Trump to the likely return of 421A tax incentives, 2017 promises big changes ahead. And yes, renters can look forward to more apartment concessions from landlords coming next year. President Donald Trump will have big effects on NYC real estate Stephen DeNardo, CEO of RiverOak Investment Corp. The day after the election, Crain’s New York Business ran the headline: “President-elect Trump unlikely to hurt real estate industry that made him.” Th... Read More

Rents and the Second Avenue Subway

January 9, 2017 | by Michael Kolomatsky
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First proposed nearly a century ago, the Second Avenue subway, or at least a portion of it between 63rd and 96th Streets, is finally scheduled to be up and running in the new year. An extension of the Q line will add new stations at 72nd, 86th and 96th Streets. One might expect that a decade of noisy construction would have kept rents down along this stretch of Second Avenue, but a recent study by StreetEasy indicates otherwise. Source: StreetEasy The New York Times While rents for homes on and near Second Avenue still lag behind those on and near First and Third Avenues, in the last five years they’ve gone up at a greater rate than those on and near the neighboring avenues. The results were calculated using median rents along each avenue ... Read More

Top Buyers' Markets in NYC

December 8, 2016 | by Lauren Riefflin
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Inventory remains tight in New York City, while rent and sales prices continue to rise – all conditions that point to a seller’s advantage. To identify neighborhoods where buyers may have more negotiating power or where buyers might face the most headwinds, StreetEasy created the Buyer/Seller Index. The Buyer/Seller Index is StreetEasy’s analysis of buyers’ and sellers’ markets across New York City. It looks at key indicators of competition such as: Time on market Price cuts Sold price in relation to asking price Taking each of these factors into account, we looked at how these statistics compare across New York City neighborhoods and determined where sellers have the upper hand and neighborhoods where buyers c... Read More