New York

This is what the $ 5,000 rent in New York gave you last year — and now

How different is it in a year?Especially for rental housing in New York City, the average rent in Manhattan is Over $ 5,000..

For example, consider a 200 E. 11th St. unit 701, a 54-unit rental building known as the 11th and 3rd. Lease last week $ 6,500 per month. The one-bedroom spread has new glass-paneled windows, a polished concrete kitchen counter, and walnut floors and was rented in March 2021. The low price era of the pandemic eraFor $ 5,150, you can get it started for free for a month.

“All apartments offered concessions,” Living New York agent Dive Suncurry, who is in charge of leasing the building, told a post of activities there in 2021.At the pre-pandemic level — and Since then, it has risen more than ever, Continues to crush the record in the process. “We are above the pre-COVID price. This has been consistently seen in East Village and all Lower Manhattan buildings and no concessions are offered,” said Sankary.

Rents are too high, but prices plummeted last year to a record low. What is the difference between the $ 5,000 Manhattan average of today’s bankruptcy being able to borrow and the destination of last year’s money?
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Last week, a 200 E.11th St. unit was rented for $ 6,500 per month. In 2021, we did the same for $ 5,150.
Last week, a 200 E.11th St. unit was rented for $ 6,500 per month. In 2021, we did the same for $ 5,150.
Courtesy of Living New York
The unit has a polished concrete counter and a walnut floor.
The unit has a polished concrete counter and a walnut floor.
Courtesy of Living New York

A 471 sq ft one bedroom at 250 E. Houston St. was recently rented for $ 5,050. A year ago, the much more spacious 713 sq ft one-bedroom unit at 229 Chrystie St., seven blocks west, costs the same. Last month, for $ 5,055, I acquired a 626-square-foot studio at 41 River Terrace in Battery Park City. Rewinding at the same time last year, $ 5 less per month was enough to win a 1,454-square-foot two-bedroom on 15 Broad St. in the nearby financial district.

The surge is in line with the surge in demand for urban housing. Schools were reopened, offices eventually did the same, and telecommuting out-of-town people moved to Big Apple, creating a crowded rental market.tenant Started to take a large hike With lease renewal A bidding war broke out Due to rare availability.And last month, the average rent in Manhattan Reached a dizzying peak According to the latest Douglas Elliman and Miller Samuel figures, the monthly fee was $ 5,058, surpassing $ 5,000 for the first time in history.

High rents and low inventories can mean that these exorbitant prices will continue for at least the next few months.

“The peak rental season is August each year, so we expect demand to increase in the coming months,” said Jonathan Miller of Miller Samuel. “Rents are expected to continue to rise in the near future.”

So what do you get for $ 5,000 in Manhattan these days? And how does it compare to last year when many locals visited? Get sweet deals For a better home? Please read and don’t cry.

Soho

So:

A vast living area.
A vast living area.
Compass
Dining area.
Dining area.
Compass

In luxury SoHo, $ 5,000 brought significant spreads, including this vast loft at 108 Wooster St., which was rented for that amount in February 2021.

The 1,272-square-foot space has an industrial feel with hardwood floors, towering ceilings, large windows and columns.

There is also a large living area, dining space, separate bedroom and office corner. Meanwhile, the sophisticated open chef’s kitchen is adorned with stainless steel cabinets and appliances.

kitchen.
kitchen.
Compass
View of the open floor plan with the corner of the office and the corner of the bed.
View of the open floor plan with the corner of the office and the corner of the bed.
Compass

“We were asked a question,” Sean Williams, the compass agent who sold the list, told the post. “I had a lot of interest … this will probably be borrowed for at least $ 7,000 now.”

now:

You can still get a pretty decent place — just half the space ready.

The 349 West Broadway studio, which recently requested $ 5,000, and Borrowed this weekOnly 450 square feet.

Floor plan view.
Floor plan view.
BOND New York
A makeshift staircase leads to the corner of the bedroom upstairs.
A makeshift staircase leads to the corner of the bedroom upstairs.
BOND New York

While successfully remodeled, there is only a small sleeping loft with a staircase that doubles as storage.

The kitchen has been updated with a granite countertop and a dishwasher, but there is only a semi-refrigerator. There is also a microwave and a wolf two-burner stove, but no stove. According to Albert Safdie of BOND New York, the bathroom has a marble vanity, a Toto toilet and a custom-made cabinet.

Petite kitchen.
Petite kitchen.
BOND New York
The stairs were also made for storage.
The stairs also serve as storage.
BOND New York

Midtown East / Turtle Bay

So:

A one-bedroom, one-bathroom unit with oversized casement windows rented for $ 5,500 in January 2021 and views of the city and the East River.

The relatively new unit, spanning 907 square feet, dates back to 2016.

The unit boasts views of the city and the river.
The unit offers views of the city and the river.
Compass
A smooth kitchen.
A smooth kitchen.
Compass

Located in 959 First Ave., it offers a custom-designed open kitchen and a sophisticated bathroom with marble tiles and plumbing facilities. Even better: it comes with a washer / dryer inside the unit.

According to the list of compasses, the building’s facilities include a full-time doorman, concierge, fitness center, playroom, resident lounge with indoor fireplace, courtyard and bicycle storage.

bedroom.
bedroom.
Compass
Marble tiled bathroom.
Marble tiled bathroom.
Compass

Today you can find it in the $ 6,600 rental market.

now:

You can find nice apartments in the area for the same price, but you will lose space and a luxurious finish.

kitchen.
kitchen.
Ogden CAP Property / Biltmore Plaza

Located on 155 E.29th St. in the Biltmore Plaza Building, one bedroom and one bathroom can be rented for no fee of $ 4,825.

But that’s only 492 square feet. Still, it’s plenty of space for a large bedroom and living room, as well as a small kitchen and an outdated-looking bathroom.

The advantage of this unit is the cool facilities of the building, such as a spacious pool and a large gym.

bedroom.
bedroom.
Ogden CAP Property / Biltmore Plaza
Bathroom.
Bathroom.
Ogden CAP Property / Biltmore Plaza

Upper East Side

So:

For $ 5,225 a year ago, I was able to win a luxurious one-bedroom, one-bathroom unit on Lennox Hill. It has plenty of windows and offers breathtaking views of the city.

Living area.
Living area.
BOND New York
kitchen.
Kitchen and washer / dryer in the unit.
BOND New York

Located on 501 E. 74th St., this particular dwelling is a corner unit boasting two glass doors leading to the city’s unusual wraparound balcony.

According to a previous list sold by BOND New York, it measures 792 sq ft and also includes a chef’s kitchen with windows, equipped with stainless steel appliances and a washer / dryer.

bedroom.
bedroom.
BOND New York
Bathroom.
Bathroom.
BOND New York

The bedroom, on the other hand, has a walk-in closet and the “spa-style” bathroom has a deep soaking tub.

now:

Buying about $ 5,200 in the same area today doesn’t give you the same luxury, but you can still find a reasonably priced unit.

Floor plan with office space.
Floor plan with office space.
Glenwood management
Living room and dining area.
Living room and dining area. The kitchen is next to the dining space.
Glenwood management

The 650-square-foot 300E.75th St. unit features a large living area and bathroom, as well as a small separate kitchen. The bedroom is large enough to accommodate a king size bed.

Still, this little Lennox Hill unit doesn’t offer dreamy features and has much less natural light.

This time last year, I leased it for $ 4,295.

bedroom.
bedroom.
Glenwood management
Bathroom.
Bathroom.
Glenwood management

This is what the $ 5,000 rent in New York gave you last year — and now

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