CityRealty Logo
 
 
 
 
 
 
The First Step to Selling Your New York City Apartment We know the ins and outs of New York real estate better than anyone. Whether you are looking to sell your SoHo loft,
Midtown condo or Upper West Side co-op, we can recommend the best broker for you.
Learn More
 
 
 
 
A blog from cityrealty (Links below will take you to the 6sqft site)
 
 

Rental Building News and Offers

Rental concessions have been offered in many of the city's full-service buildings and new developments.
During a rental apartment search, there are many criteria to consider: price, location, size, amenities…and concessions? The practice would have been unheard of to most in previous years, but it has become readily apparent in many of the city's full-service buildings and new developments. While an abundance of development throughout the five boroughs has given tenants more options, it has also led to stubborn vacancies in existing buildings. This has forced landlords to get creative about enticing tenants in the form of concessions and leasing specials.

According to Curbed, landlords are now offering more than double the concessions as this time last year. A month or two of free rent is among the most popular, but some buildings provide other discounts (e.g., lower security deposits, free amenity memberships) or special offers (retail gift cards, free cable or Netflix for the duration of the lease).

Over the last year, we've compiled a list of all the rental offers we came across into an easy-to-navigate map that can be searched by types of offers.
It is important to note that an offer of “one month’s free rent” does not always mean one month without having to pay a whole large sum. More often, the accurate term would be a discount on rent: These apartments are often listed with a “net-effective” rent, a term that refers to the total amount of the concession (one month’s rent) divided by the term of the lease. The resulting amount is then deducted from the asking rent for a lower monthly payment.

Prospective renters should also keep in mind that while they may be paying a discounted rent for the first year, landlords will most likely accept them based on their ability to pay the gross rent (sticker price) and thus stay in the building.
Content Specialist Michelle Mazzarella Michelle is a contributing writer and editor for real estate news in New York City
Sprawling, Custom-Designed Tribeca Lofts With Over 40,000 Square Feet of Amenities. Immediate Occupancy. View Property
Townhome-style condos in Brooklyn Bridge Park View Property
New South Williamsburg Waterfront Rentals View Property
Advertisement
No fee studio to 3 bedroom rental residences near Grand Central View Property
{"version":"1.2.0","filters":{"registrationUserType":{"options":[{"label":"Buy","value":"buy","active":false},{"label":"Rent","value":"rent","active":false},{"label":"Sell","value":"ipo","active":false},{"label":"Agent","value":"broker","active":false}],"type":"select","name":"user type"},"registrationBedrooms":{"options":[{"label":"Studio","value":0,"active":false},{"label":"1 Bed","value":1,"active":false},{"label":"2 Beds","value":2,"active":false},{"label":"3 Beds","value":3,"active":false},{"label":"4 Beds","value":4,"active":false},{"label":"5+ Beds","value":10,"active":false}],"type":"select","name":"bedrooms"},"saleBuildingType":{"options":[{"label":"Condo","value":"condo","active":false},{"label":"Co-op","value":"coop","active":false},{"label":"Condop","value":"condo-coop","active":false},{"label":"Townhouse","value":"townhouse","active":false}],"type":"select","name":"building type"},"rentalBuildingType":{"options":[{"label":"Condo","value":"condo","active":false},{"label":"Co-op","value":"coop","active":false},{"label":"Condop","value":"condo-coop","active":false},{"label":"Rental","value":"rental","active":false}],"type":"select","name":"building type"},"registrationBuyersBudgets":{"options":[{"label":"<span class='up-to'>up to <\/span>$500K","value":500000,"active":false},{"label":"<span class='up-to'>up to <\/span>$750K","value":750000,"active":false},{"label":"<span class='up-to'>up to <\/span>$1.5M","value":1500000,"active":false},{"label":"<span class='up-to'>up to <\/span>$2.5M","value":2500000,"active":false},{"label":"<span class='up-to'>up to <\/span>$5M","value":5000000,"active":false},{"label":"<span class='up-to'>up to <\/span>$10M","value":10000000,"active":false},{"label":"<span class='up-to'>up to <\/span>$25M","value":25000000,"active":false},{"label":"no limit","value":50000000,"active":false}],"type":"select","name":"budget_buyer"},"registrationRentersBudgets":{"options":[{"label":"up to $2,000","value":2000,"active":false},{"label":"up to $4,000","value":4000,"active":false},{"label":"up to $6,000","value":6000,"active":false},{"label":"up to $8,000","value":8000,"active":false},{"label":"up to $10,000","value":10000,"active":false},{"label":"up to $25,000","value":25000,"active":false}],"type":"select","name":"budget_renter"},"registrationRegions":{"options":[{"id":1,"label":"Upper East Side","value":[3,4,8,9,34],"image":"https:\/\/ds3.cityrealty.com\/img\/f009c2ec3c97347fa5bd6ae37c0d85a2289faf1e+w+h+0+60\/upper-east-side.jpg"},{"id":2,"label":"Upper West Side","value":[10,11,14,16,17],"image":"https:\/\/ds2.cityrealty.com\/img\/df0e47bbc38552ece1dc102b411619fb4f509bee+w+h+0+60\/upper-west-side.jpg"},{"id":11,"label":"Midtown","value":[1,5,6,7,15],"image":"https:\/\/ds4.cityrealty.com\/img\/bbc6bccd6c96cd025f40fe9a3e210124a742dd42+w+h+0+60\/midtown.jpg"},{"id":3,"label":"Downtown","value":[21,23,24,25,26,28,30,31,32,33,39,40],"image":"https:\/\/ds3.cityrealty.com\/img\/77835ac8b10f7437f468f16073e8455b2697b1f7+w+h+0+60\/downtown.jpg"},{"id":13,"label":"Financial District\/BPC","value":[20,27],"image":"https:\/\/ds1.cityrealty.com\/img\/46d1cec3cdffe39d15e40a0d0d03e8bbe4998fab+w+h+0+60\/financial-district-bpc.jpg"},{"id":12,"label":"Upper Manhattan","value":[13,19,36,42,101],"image":"https:\/\/ds3.cityrealty.com\/img\/3dfca010ace6cb0aca5091064cc830dbfee70b2f+w+h+0+60\/upper-manhattan.jpg"},{"id":4,"label":"Brooklyn","value":[201,204,206,207,209,210,211,213,215,219,223,231,232,233,237,238,1200,1415,1421,1565],"image":"https:\/\/ds3.cityrealty.com\/img\/e863ea530699d71fdd61e1887f27c0dd50dc28be+w+h+0+60\/brooklyn.jpg"},{"id":5,"label":"Queens","value":[1483],"image":"https:\/\/ds3.cityrealty.com\/img\/a402bb6e13af8ade973b6c8a5812df054c75cf1b+w+h+0+60\/queens.jpg"},{"id":18,"label":"Bronx","value":[406],"image":"https:\/\/ds2.cityrealty.com\/img\/19a9137cad718b7872ff1a420c0f72128ac03fea+w+h+0+60\/bronx.jpg"}],"open":false,"name":"Regions"}}}