New Developments in the News
JANUARY 10, 2011
Historic Districts Council suggests landmark protection needed for six up-and-coming neighborhoods; Luxury apartment rentals doubled in 2010
The Historic Districts Council has suggested that a handful of the city’s rapidly-changing neighborhoods—including Bowery, Bed-Stuy, Inwood, Mount Morris Park, Gowanus and Jackson Heights—should be protected by historic district status to better preserve the historic aspects of those neighborhoods as they reach new levels of residential and commercial growth.
Recent reporting from appraiser Miller Samuel Inc., has indicated that new apartment leases at the top 1% of the Manhattan market more than doubled in the last quarter of 2010 from a year prior. The report also indicated that new apartment rentals overall more than tripled over the same time period as landlords offered fewer concessions to current tenants and tenants sought better deals by moving out.
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