Chelsea Stratus, #20DE (Compass)
New Yorkers have long accepted stratospheric rents as a fact of life, but the months immediately following the pandemic took that to a new level with dramatic rent spikes, overcrowded open houses, and bidding wars on even the most run-of-the-mill apartments. There are fewer stories like that making the news, but rents are still high: A new report from Apartment List found that New York City rents have increased a total of 6% over the past 12 months, outpacing both the state and national averages. The report also found that those who might have sought refuge on New Jersey's Gold Coast won't find much of a rent respite – Fort Lee, Hoboken, and Jersey City all experienced larger year-over-year rent increases than New York City proper.
Rent growth (Apartment List)
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However, this red-hot market is starting to cool off a little. The report also found that rents in New York City decreased 2.9% month-over-month in November 2022. This comes in comparison to a 1% decrease nationally, and makes it the fifth-sharpest decline among major American cities.
At this point, it is hard to say whether the decrease is indicative of a long-term trend or a sign that the traditional real estate off-season has begun. November through March are traditionally considered so because fewer people want to move during New York's coldest months of the year. However, those who do choose to rent during this time of year can sometimes have greater leverage when negotiating more flexible lease terms.
As we wait to see how this plays out, November 2022 closed with 385 rental listings throughout the five boroughs and the New Jersey Gold Coast experiencing price reductions. A selection of notable listings may be found below.
As we wait to see how this plays out, November 2022 closed with 385 rental listings throughout the five boroughs and the New Jersey Gold Coast experiencing price reductions. A selection of notable listings may be found below.
30E31, #28 (Compass)
From the Listing: Offering abundant light and views in triple directions, unit 28 captures the dynamic New York City skyline at its finest, anytime of day or night. As you enter into the open kitchen and living space, you are welcomed by exquisite northern skyline views of Manhattan. The kitchen offers custom walnut cabinetry, crafted in Italy, and is complemented by quartzite countertops and backsplashes. With cabinetry custom-designed by Morris Adjmi, and appliances by Bosch, Sub-Zero, and Wolf, no details have been spared. Both bedrooms feature the same floor-to-ceiling picture frame windows, looking south. One month free rent! See floor plan and full details here.
Porter House, #5E (Douglas Elliman)
From the Listing: Residence #5E is a 3-bedroom, 3 full bathroom condominium sublet offering open floor plan with generously proportioned rooms, private outdoor balcony, and room for a home office. Large windows provide a bright southern view from the main living space with generous custom closets throughout, overhead lighting, central air conditioning/heat and washer/dryer within. The kitchen boasts a Viking range, Viking refrigerator, garbage disposal, white stone countertops, built-in breakfast bar, in-sink garbage disposal and all stainless steel appliances. See floor plan and full details here.
424 East 85th Street, #1A (The Corcoran Group)
From the Listing: Seemingly small yet wonderful studio, very well appointed with big surprises. There is an actual separate kitchen with full-sized appliances, spacious "living room" area, and an actual designated "work" area. Everything needed is nearby from restaurants, bars, banks, schools, doctors, to numerous transportation options. See floor plan and full details here.
714a Quincy Street, #1 (The Agency Brokerage)
From the Listing: This is a fantastic opportunity to lease half of a townhome with this beautifully renovated, 3-bedroom 3-bathroom triplex with a private backyard and deck space, washer dryer in-unit, central air conditioning and heating, a dishwasher, and tons of space for entertaining, all located on a gorgeous tree-lined block in the heart of Bed-Stuy. See floor plan and full details here.
The Heritage, #PH1B (Blu Realty Group)
From the Listing: Situated on the southern half of the condo tower, this sun-drenched corner home is complete with floor-to-ceiling windows with exposures from the west, east, and south. The state-of-the-art windowed chef's kitchen boasts top of the line appliances including dual stoves and a wine fridge. Enjoy breathtaking sunsets from the southwest-facing terrace and dramatic sunrises from the southeast-facing terrace.
See floor plan and full details here.
Gateway Plaza Battery Park City, #3CC (Gateway Plaza Leasing Office)
From the Listing: Net effective rent - 1/2 month free rent on a 12-month lease. See floor plan and full details here.
531 Manhattan Avenue, #2 (Compass)
From the Listing: Be the first to live in this summer 2022 newly renovated brownstone triplex offering space, flexibility, and working fireplaces on one of the best blocks in Harlem! A set of French doors leads to an office or third bedroom with renovated ensuite full bath and access to the garden, shared by just the one garden apartment unit. A beautiful staircase leads to the second floor with spacious and renovated eat-in kitchen featuring brand new, never before used custom cabinetry and stainless appliances including Bosch dishwasher, Five-Star range, and Samsung fridge. See floor plan and full details here.
200 West 10th Street, #1 (Brown Harris Stevens)
From the Listing: This spacious Garden Duplex in the West Village has a wonderful private south-facing deep garden and Village bohemian vibe. High ceiling loft like sunny parlor floor with living room in front facing north, flowing into a dining area and windowed large kitchen. There is access to the garden from the kitchen.
A full bathroom, storage closet and washer/dryer completes this floor. The lower garden floor has a flexible floor plan - easily set up as 2 bedrooms, plus 2 sizeable bonus rooms: home office/home gym/storage room with 1.5 bathrooms. See floor plan and full details here.
Riverside, #710 (Riverside Leasing Office)
From the Listing: Spacious floor plans and sweeping waterfront views define these NO FEE apartments located on Jersey City's spectacular Hudson River waterfront - directly across from Manhattan. The luxury residences at Newport offer fabulous amenities and unparalleled value. Get oore outdoors at Newport - the most green space of any residential community in Jersey City.
See floor plan and full details here.
Chelsea Stratus, #20DE (Compass)
From the Listing: Welcome home to this Architectural Digest-featured masterpiece! Designer Patrick McGarth thoughtfully combined two bedroom apartments to create a unique home. Located on the 20th floor of the building, this floor-through corner residence features show stopping views of the entire downtown skyline visible through floor to ceiling glass with views facing north, east and south. The southern half of this home is a grand open space perfect for entertaining or lounging. The dining area easily accommodates an eight-person table while the double living room features an office separated from the airy living room by built-in bookcases. The windowed and airy kitchen features custom cabinetry, stainless steel appliances and a wine fridge. Two deeded private storage cages in the basement. See floor plan and full details here.
167 Perry Street, #4J (Serhant LLC)
From the Listing: Perfect studio located on tree-lined cobblestoned Perry Street in the heart of the West Village. Move right into this furnished or unfurnished unit and enjoy the open kitchen with quiet sunny garden views.
Bathroom with large tub. Fantastic use of space with multiple closets throughout the apartment. 167 Perry is a professionally managed 24-hour doorman coop with an impressive roofdeck featuring gorgeous panoramic views of the Hudson River. See floor plan and full details here.
The Delmar, #5I (Compass)
From the Listing: Spacious two-bedroom apartment located on the fifth floor, featuring large industrial windows and high ceilings allowing for great sunlight throughout. This home boasts ample storage space with four closets, modern bathroom with deep soaking tub, an in-unit washer/dryer, and fully equipped modern kitchen with stainless steel appliances and dishwasher. Residents can enjoy an array of amenities, including an indoor and outdoor fitness center, yoga/dance studio, children’s playroom, remote office space, meeting rooms, and two roof decks with beautiful views of Manhattan. See floor plan and full details here.
82 West 12th Street, #1B (Akam Sales and Brokerage)
From the Listing: Apartment features two king-size bedrooms, one upstairs and one downstairs for ultimate privacy. The separate yet open kitchen comes equipped with brand new stainless steel appliances including a dishwasher, soapstone counter-tops and custom cabinetry.
There is a choice of either two living areas or one living room and a dining room. The newly renovated bathroom features natural stone flooring and a walk-in shower stall with radiant heat floors, an outdoor patio and a washer/dryer in the apartment. This 122-year-old building has been completed restored and features an elevator, free laundry in the basement and a finished roof deck with 360-degree views of Greenwich Village. See floor plan and full details here.
1889 Lexington Avenue, #7 (The Corcoran Group)
From the Listing: Charming, quiet, and "cozy" dorm-style studio room, conveniently located in East Harlem. Shared bath. Conveniently located near downtown bus line and #6 train. Situated in the heart of East Harlem, with many restaurants, shops and essential amenities at your doorstep. See floor plan and full details here.
25 Carroll Street, #5C (Nest Seekers LLC)
From the Listing: Welcome home to this massive 2,000-square-foot corner duplex penthouse loft with 1,100-square-foot rooftop terrace with stunning New York City views! This loft home features three bedrooms, two bathrooms plus home office, 10’+ high ceilings, exposed brick walls, original exposed pine structural beams throughout, open kitchen with polish concrete countertop, dishwasher, central cooling / heating, virtual doorman, alarm system, oversized windows with northern, western, and eastern exposures, generous closets, and In-unit washer/dryer. See floor plan and full details here.
The Saxony, #51 (The Corcoran Group)
From the Listing: Meticulously renovated and loft-like four-bedroom, three-bath home situated at the Saxony, an architecturally significant building designed by the pre-eminent New York City architect Emery Roth. This home has undergone a complete State-of-the-Art renovation seamlessly blending Prewar elegance with modern finishes, boasting high ceilings, light and air and is beautifully furnished. The gracious Great Room, short of 30’ long by 18’9" wide, offers an abundance of space and light! The windowed open chef’s eat-in kitchen features a gorgeous stone island, marble accents, top-of-the-line appliances, 6-burner Wolf stove, wine fridge, Sub-Zero refrigerator, floor to ceiling pantry closet - an inviting place to cook and gather. Available furnished for $19,000/month. See floor plan and full details here.
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