View from Prism in NoMad/Flatiron area
Between November 2020 and January 2021, the Manhattan rental market saw a 23% drop in inventory as a record pace of leasing took hold up and down the island. As of today, there are 12,414 actively-listed rentals on the isle, down from 16,209 listings two months ago. All configurations, from studios to three-bedrooms saw their inventory decline by more than 20%, with one-bedrooms leading the way. While the island's overall median asking price fell a marginal 2% to $3,137/month, sticker prices for larger apartments plummeted, with three-bedrooms falling 35% to $4,850/month. However, the median price studios increased by 9% and one-bedrooms held steady at an even $3,000/month
Generally, long sought-after neighborhoods saw their inventory fall the fastest, while neighborhoods hit hardest by the most recent wave of gentrification, such as Bushwick and Bedford-Stuyvesant saw their inventory continue to climb. Over the last week, the core areas of the city saw the prices of more than 1,100 active rental apartments reduced. With the current fire sale of apartments before us, we compiled ten newly-reduced apartments around $3,000/month in the city's ten priciest neighborhoods.
Generally, long sought-after neighborhoods saw their inventory fall the fastest, while neighborhoods hit hardest by the most recent wave of gentrification, such as Bushwick and Bedford-Stuyvesant saw their inventory continue to climb. Over the last week, the core areas of the city saw the prices of more than 1,100 active rental apartments reduced. With the current fire sale of apartments before us, we compiled ten newly-reduced apartments around $3,000/month in the city's ten priciest neighborhoods.
In this article:
10. Nolita/Little Italy - Median Monthly Rent: $3550 (-4%)
↓ A tenement walk-up with dishwasher
From the Listing: Public park steps away. S.H.A.R.E.S. are okay! This will NOT last long! See floor plan and full details here.
9. Chelsea - Median Monthly Rent: $3,700
↓ Thrift shops, $1 pizza and Fairway moments away
From the Listing: Many closets, all custom designed. Spacious 1 bedroom plus dining area and separate kitchen with full sized Stainless Steel appliances.
See floor plan and full details here.
8. West Village - Median Monthly Rent: $3,720 (+6%)
↓ Hudson River Park at your doorstep with Google dropping anchor nearby
7. Lincoln Center - Median Monthly Rent: $3,998 (+1%)
↓ An exoskeletal modern home a short walk from Lincoln Center and the express subway
6. DUMBO - Median Monthly Rent: $4,525 (-8%)
↓ Be the first to live in this brand-new condo designed by ODA Architecture
From the Listing: Welcome to 98 Front Street, one of DUMBOs most desirable new development projects. Be the first person to live in this efficient one bedroom, one bath which boasts brand new high-end appliances and beautiful finishes. High ceilings, wide plank white oak flooring, and natural light make this apartment an absolute must see. See floor plan and full details here.
5. Flatiron/Union Square - Median Monthly Rent: $4,943 (-1%)
↓ Deal in angular glass condo designed by a Pritzker Prize-winning architect
4. SoHo - Median Monthly Rent: $6,250 (-7%)
↓ Great location with furniture available for purchase
From the Listing: Bright and cheery Soho 1 Bedroom. Enjoy lots of light, pretty views, high ceilings, spotless and clean renovations, roomy living room, queen bedroom with sunny window overlooking greenery. See floor plan and full details here.
3. Upper East Side Gold Coast - Median Monthly Rent: $7,000 (+3%)
↓ A large one-bedroom with Museum Mile and Central Park nearby
From the Listing:
Charming Townhouse apartment between Park & Lexington Ave. 800 Sq ft 1 bed, 1.5 bath. The top floor apartment has an expansive floor plan that offers a living room large enough to hold two sofas, while the dining space allows for 6-8 guests. The kitchen sits just off the dining area and can be closed off by french pocket doors.
See floor plan and full details here."
2. Tribeca - Median Monthly Rent: $7,933 (-12%)
↓ A post-war box with a free bike storage incentive
From the Listing:
*GROSS rent paid monthly: $2995.00
*Concessions are not amortized
*New residents are eligible for six months free bike storage (subject to availability)
*Concessions are for new move ins only; renewals and existing tenants do not apply.
Large and spacious alcove studio apartment located in the heart of Tribeca.Unit comes with excellent closet space, a separate pass through kitchen, tons of windows for excellent light all day.  For more information and virtual tours please contact our leasing office. See floor plan and full details here."
Large and spacious alcove studio apartment located in the heart of Tribeca.Unit comes with excellent closet space, a separate pass through kitchen, tons of windows for excellent light all day.  For more information and virtual tours please contact our leasing office. See floor plan and full details here."
1. NoHo - Median Monthly Rent: $9,500 (+23%)
↓ An average apartment overlooking bucolic Houston Street
From the Listing: Western facing spacious one-bedroom with large renovated kitchen, granite countertops and breakfast bar for dining. Stainless steel appliances in kitchen. Living room and bedroom both with excellent closet space. Soho Court is a post-war elevator building with fitness center, laundry, courtyard, and in-house Resident Manager.
See floor plan and full details here.
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