The November 2008 rental market analysis for Manhattan by CitiHabitats indicated that the average monthly rent for a studio apartment was $1,808, $2,506 for a one-bedroom unit, $3,518 for a two-bedroom unit and $4670 for a three-bedroom apartment.
The overall vacancy rate for Manhattan in November was 2.04 percent, according to the report, up sharply from 1.46 percent in September and 1.71 percent in October.
The report added that the vacancy rate in November in the East Village was 1.65 percent, 1.71 percent in the West Village, 1.84 percent in both SoHo/TriBeCa and the Upper West Side, 1.99 percent on the Upper East Side, 2.04 percent in Midtown West, 2.07 in Midtown East, 2.10 percent in Chelsea, 2.32 percent in Battery Park City and the Financial District.
The average rent in November, according to CitiHabitats, for a two-bedroom apartment was $1,750 in Washington Heights, $2,075 in Harlem, $2,700 in Morningside Heights, $2,917 on the Lower East Side, $2,962 on the Upper East Side, $3,225 in Murray Hill, $3,384 in the East Village, $3,757 n Midtown West, $3,950 in Midtown East, $4,148 in Wall Street and Battery Park City, $4,177 in the West Village and $4,293 in Chelsea and $4,516 in Gramercy Park and the Flatiron districts.
CitiHabitats reported that "overall blended averages" last month for new developments with doormen, which includes all rental and condo buildings built after 2000 was $2,802 for a studio a month, $3,791 for a one-bedroom, $6,806 for a two-bedroom and $9,084 for a three-bedroom unit.
The overall vacancy rate for Manhattan in November was 2.04 percent, according to the report, up sharply from 1.46 percent in September and 1.71 percent in October.
The report added that the vacancy rate in November in the East Village was 1.65 percent, 1.71 percent in the West Village, 1.84 percent in both SoHo/TriBeCa and the Upper West Side, 1.99 percent on the Upper East Side, 2.04 percent in Midtown West, 2.07 in Midtown East, 2.10 percent in Chelsea, 2.32 percent in Battery Park City and the Financial District.
The average rent in November, according to CitiHabitats, for a two-bedroom apartment was $1,750 in Washington Heights, $2,075 in Harlem, $2,700 in Morningside Heights, $2,917 on the Lower East Side, $2,962 on the Upper East Side, $3,225 in Murray Hill, $3,384 in the East Village, $3,757 n Midtown West, $3,950 in Midtown East, $4,148 in Wall Street and Battery Park City, $4,177 in the West Village and $4,293 in Chelsea and $4,516 in Gramercy Park and the Flatiron districts.
CitiHabitats reported that "overall blended averages" last month for new developments with doormen, which includes all rental and condo buildings built after 2000 was $2,802 for a studio a month, $3,791 for a one-bedroom, $6,806 for a two-bedroom and $9,084 for a three-bedroom unit.
Architecture Critic
Carter Horsley
Since 1997, Carter B. Horsley has been the editorial director of CityRealty. He began his journalistic career at The New York Times in 1961 where he spent 26 years as a reporter specializing in real estate & architectural news. In 1987, he became the architecture critic and real estate editor of The New York Post.
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