Updated: July 2010

Download in PDF for a more readable, printer-friendly option

Table of Contents:

• Bay Ridge
• Bedford–Stuyvesant
• Boerum Hill
• Brooklyn Heights
• Bushwick
• Clinton Hill
• Cobble Hill
• Crown Heights
• DUMBO
• Fort Greene
• Greenpoint
• Prospect Lefferts Gardens
• Park Slope
• Williamsburg

Introduction

The Real Estate Group NY is proud to present the July 2010 installment of the Brooklyn Rental Market Report, which will provide insight to the current state of the residential rental market, and provide clearer, more concise data than ever before available for the Brooklyn real estate market.

The data provided has been specifically compiled for you; the renter, investor, developer, landlord, property manager etc., to provide you with a better understanding of the Brooklyn housing market. The data is indicative of the types of apartments available in varying neighborhoods. Our goal is to use technology to provide you with transparency into a market that has been so difficult to navigate until now.

In the future as our data continues to grow, the monthly Brooklyn Rental Market Report will be even more comprehensive providing further insight with greater reporting capabilities on the state of the market, and to create the ability for all property owners to better gauge their own pricing based on a clearer view of their neighbors.

As The Real Estate Group NY continues to grow, we aim to make the Brooklyn Rental Market Report, the only true and accurate report you will ever need.

Mean Brooklyn Rental Prices

The Mean Rental Price graphs illustrate average monthly rents for studios, one–bedrooms and two–bedrooms for the month of July 2010.

Updated: July 2010

Download in PDF for a more readable, printer-friendly option

Table of Contents:

• Introduction
• A Quick Look
• Mean Manhattan Rental Prices
• Manhattan Price Trends
• Neighborhood Price Trends
  • Upper West Side
  • Upper East Side
  • Midtown West
  • Midtown East
  • Murray Hill
  • Chelsea
  • Gramercy Park
  • Greenwich Village
  • East Village
  • SoHo
  • Lower East Side
  • TriBeCa
  • Financial District
  • Battery Park City
  • Harlem
• The Report Explained

Introduction

The Real Estate Group NY is proud to present the July 2010 edition of our Manhattan Rental Market Report™, the only research on the city’s rental rates published on a monthly basis.

The Manhattan rental market is back in the midst of its prime rental season and as prices rise and inventories decrease this month, the bump in activity seems to be helping the market continue its return to normality.

Rental prices are up again this month — .72% in month-to-month comparisons and 3.62% year-over-year. While not large increases, these numbers are in step with normal seasonal fluctuations we would expect to see in July.

At the same time, inventories have decreased this month by 0.78% and vacancies are especially hard to come by in larger units as new renters eager to find shares arrive in Manhattan.

In addition, while the influx of new grads to Manhattan has helped to decrease some of the available inventory, intra-borough renters, who were out in full force last year to take advantage of the incentives many landlords were offering, are staying put this season. This trend is also helping to drive down vacancy numbers.

Seeing the trend of increasing rents and decreasing inventories, landlords and property owners around Manhattan have pulled nearly all incentives from prime Manhattan units. No-fee deals are few and far between, mostly found in the Financial District.

We recommend that renters looking to enter the market start their search now rather than waiting for fall. There are few indications that landlords will introduce more favorable pricing come September and given the low turnover rate in leases this year, renters will have to be diligent in their search to find a value.

A Quick Look

Greatest Changes Since June:

• Non–doorman studios – Gramercy Park – Up 9.06% ($179)
• Non–doorman one–bedrooms – Upper East Side – Up 8.73% ($185)
• Non–doorman two–bedroom – Gramercy Park – Up 9.73% ($355)

• Doorman studios – East Village – Down 7.90% ($196)
• Doorman one–bedrooms – East Village – Down 7.91% ($303)
• Doorman two–bedroom – East Village – Up 9.84% ($443)

Year-over-year Changes:

Notable Trends:

Rents are Back on the Rise — In keeping with expected seasonal trends, average rents are up this month 0.72% in month-to-month comparisons and 3.62% year-over-year. While not a large increase, given the instability we have seen over the past year, this return to normal market fluctuations is a positive sign for the health of the rental market.

Inventories Get Tight — After showing an increase last month, vacancies are back down this month by 0.78%. Renters continue to scoop up value-priced non-doorman units and inventories in these units were down 7.86% this month. Larger units are leaving the market first and vacancies are down upwards of 9% in non-doorman two-bedroom units.

Service If the Price is Right — It appears that renters looking for service are also doing their research on rental prices. While non-doorman inventories continue to decline across the board despite slight price increases in studio and one-bedroom units, doorman units show a more direct correlation to rental prices. Studio units, where prices declined by about 1% this month, also showed a decline in inventories of 5.10%; however, one- and two-bedroom units, where prices were up 0.33% and 1.41% respectively, both showed sharp increases in inventory of 7.27% and 13.35%. So while it seems that renters are still willing to pay a premium for service, they are more reluctant to take a unit not perceived to be a “deal.”

Where Prices Decreased:

Harlem— Doorman studios (-2.12%), doorman one-bedrooms (-5.44%), doorman two-bedrooms (-9.69%)

Upper West Side— Doorman one-bedrooms (-0.22%), doorman two-bedrooms (-0.59%)

Upper East Side— Doorman studios (-0.28%), doorman two-bedrooms (-0.44%)

Midtown West— Doorman two-bedrooms (-1.01%)

Midtown East— Non-doorman studios (-7.08%), doorman studios (-0.91%), non-doorman one-bedrooms (-8.54%), non-doorman two-bedrooms (-7.66%), doorman two-bedrooms (-2.04%)

Murray Hill— Non-doorman two-bedrooms (-9.44%)

Chelsea— Non-doorman studios (-8.88%), doorman one-bedrooms (-1.23%)

Gramercy Park— Doorman studios (-4.01%), doorman one-bedrooms (-0.53%)

East Village— Non-doorman studios (-1.05%), doorman studios (-7.90%), doorman one-bedrooms (-7.91%), non-doorman two-bedrooms (-5.08%)

SoHo— Non-doorman studios (-6.78%), doorman studios (-7.67%), doorman one-bedrooms (-1.12%), non-doorman two-bedrooms (-1.88%)

Lower East Side— Doorman studios (-2.49%), non-doorman two-bedrooms (-9.52%)

TriBeCa— Non-doorman two-bedrooms (-9.28%), doorman two-bedrooms (-6.20%)

Financial District— Non-doorman one-bedrooms (-8.27%), non-doorman two-bedrooms (-9.12%)

Battery Park City— Doorman studios (-6.74%), doorman two-bedrooms (-0.78%)

Where Prices Increased:

Harlem— Non-doorman studios (1.23%), non-doorman one-bedrooms (2.31%), non-doorman two-bedrooms (9.43%)

Upper West Side— Non-doorman studios (1.44%), doorman studios (1.25%), non-doorman one-bedrooms (1.90%)non-doorman two-bedrooms (6.77%)

Upper East Side— Non-doorman studios (3.91%), non-doorman one-bedrooms (8.73%), doorman one-bedrooms (0.80%), non-doorman two-bedrooms (7.18%)

Midtown West— Non-doorman studios (3.84%), doorman studios (1.56%), non-doorman one-bedrooms (1.47%), doorman one-bedrooms (1.82%), non-doorman two-bedrooms (6.50%)

Midtown East— Doorman one-bedrooms (1.39%)

Murray Hill— Non-doorman studios (8.34%), doorman studios (5.79%), non-doorman one-bedrooms (7.52%), doorman one-bedrooms (3.58%), doorman two-bedrooms (7.89%)

Chelsea— Doorman studios (0.39%), non-doorman one-bedrooms (2.86%), non-doorman two-bedrooms (6.65%), doorman two-bedrooms (0.88%)

Gramercy Park— Non-doorman studios (9.06%), non-doorman one-bedrooms (5.35%), non-doorman two-bedrooms (9.73%), doorman two-bedrooms (1.02%)

Greenwich Village— Non-doorman studios (1.63%), doorman studios (6.15%), non-doorman one-bedrooms (6.43%), doorman one-bedrooms (2.90%), non-doorman two-bedrooms (7.88%), doorman two-bedrooms (1.45%)

East Village— Non-doorman one-bedrooms (4.19%), doorman two-bedrooms (9.84%)

SoHo— Non-doorman one-bedrooms (8.25%), doorman two-bedrooms (4.81%)

Lower East Side— Non-doorman studios (8.48%), non-doorman one-bedrooms (1.47%), doorman one-bedrooms (5.58%), doorman two-bedrooms (7.42%)

TriBeCa— Non-doorman studios (6.60%), doorman studios (2.65%), non-doorman one-bedrooms (8.38%), doorman one-bedrooms (2.24%)

Financial District— Non-doorman studios (0.29%), doorman studios (0.36%), doorman one-bedrooms (2.05%), doorman two-bedrooms (8.15%)

Battery Park City— Doorman one-bedrooms (0.98%)

Tips for Renters:

• LES for less than $1500/month. Non-doorman two-bedroom units on the Lower East Side fell 9.52% this month to $2770 making them an incredible deal. For just $1385/month, two thrifty renters can have their own piece of downtown Manhattan.
• Financial District without a fee. Renters looking to move for cheap should head south. While most other prime Manhattan neighborhoods have reinstated the broker fee, there are still some no-fee deals to be had in the Financial District.
• Harlem can’t be beat. Harlem is offering the best deals for both space and service this month. Doorman two-bedroom units have fallen 9.69% to $2345 — the lowest price point for these units since TREGNY began recording data for Harlem in 2008.

Mean Manhattan Rental Prices

The Mean Rental Price graphs illustrate average monthly rents for studios, one–bedrooms and two–bedrooms in doorman and non–doorman buildings in Manhattan for the month of July 2010. Graphs tracking citywide and neighborhood price changes over a rolling 13-month period follow.

Manhattan Price Trends

Neighborhood Price Trends

Upper West Side

Upper East Side

Midtown West

Midtown East

Murray Hill

Chelsea

Gramercy Park

Greenwich Village

East Village

SoHo

Lower East Side

TriBeCa

Financial District

Battery Park City

Harlem

The Report Explained

The Manhattan Rental Market Report is the only report that compares fluctuation in the city’s rental data on a monthly basis. It is an essential tool for potential renters seeking transparency in the NYC apartment market and a benchmark for landlords to efficiently and fairly adjust individual property rents in Manhattan.

The Manhattan Rental Market Report is based on data cross-sectioned from over 10,000 currently available listings located below 155th Street and priced under $10,000, with ultra-luxury property omitted to obtain a true monthly rental average. Our data is aggregated from the The Real Estate Group NY proprietary database and sampled from a specific mid-month point to record current rental rates offered by landlords during that particular month. It is then combined with information from the REBNY Real Estate Listings Source (RLS), OnLine Residential (OLR.com) and R.O.L.E.X. (Real Plus).

Contact us now: 212.475.9000

Note: All market data is collected and compiled by The Real Estate Group NY’s marketing department. The information presented here are intended for instructive purposes only and has been gathered from sources deemed reliable, though it may be subject to errors, omissions, changes or withdrawal without notice.

If you would like to republish this report on the web, please be sure to source it as the “Manhattan Rental Market Report” with a link back to its original location (http://www.tregny.com/manhattan_rental_market_report).

Updated: June 2010

Download in PDF for a more readable, printer-friendly option

Table of Contents:

• Introduction
• A Quick Look
• Mean Manhattan Rental Prices
• Manhattan Price Trends
• Neighborhood Price Trends
  • Upper West Side
  • Upper East Side
  • Midtown West
  • Midtown East
  • Murray Hill
  • Chelsea
  • Gramercy Park
  • Greenwich Village
  • East Village
  • SoHo
  • Lower East Side
  • TriBeCa
  • Financial District
  • Battery Park City
  • Harlem
• The Report Explained

Introduction

The Real Estate Group NY is proud to present the June 2010 edition of our Manhattan Rental Market Report™, the only research on the city’s rental rates published on a monthly basis.

The summer rental season has finally arrived for eager Manhattan landlords and property owners. Incentives have been removed from most properties south of 96th Street and many major landlords have begun increasing prices. In addition, activity is significantly up around the city – especially in larger units. Still, the data this month holds some cautionary notes.

Rental prices were positive this month – up 0.60% vs. May and 2.15% vs. 2009 numbers. Vacancy numbers were less encouraging. Inventories were up 5.34% overall and by as much as 6.15% in doorman buildings.

At the same time, many landlords have become increasingly strategic with their offerings – attempting to turnover as much of their inventory as possible during the busier summer months. Couple this with the significant increase in rental inventory that Manhattan has seen over the past few years and to some extent, an increase in inventory should be expected during this time of year.

As the summer season continues, we encourage landlords to carefully monitor their inventories as without real employment growth, there is likely to be a finite supply of prospective renters to soak up the excess vacancies.

A Quick Look

Greatest Changes Since May:

• Non–doorman studios – TriBeCa – Up 7.85% ($272)
• Non–doorman one–bedrooms – Financial District – Up 7.02% ($218)
• Non–doorman two–bedroom – Murray Hill – Down 6.49% ($271)

• Doorman studios – Lower East Side – Up 8.93% ($188)
• Doorman one–bedrooms – Battery Park City – Up 9.48% ($270)
• Doorman two–bedroom – Lower East Side – Up 8.28% ($295)

Year-over-year Changes:

Notable Trends:

Rents Hedge Bets — Manhattan rental prices are holding steady this month, up 0.60% overall, but category performance remains mixed. Non-doorman studio units are up 2.80% while non-doorman two-bedroom units are down 2.29%.

Vacancies Abound — Inventories around Manhattan are up dramatically this month – 5.34% overall. This is the largest inventory increase we’ve seen since February 2009. While previously inventories had been generally holding steady, this increase proves that the market is still unstable.

Service Premium? — Doorman unit prices were up on average 0.97% this month, yet inventories were up 6.15%. Though renters may have been willing to pay a significant premium for service pre-downturn, it seems that the service differential may see a permanent cut even as the market recovers.

Where Prices Decreased:

Harlem— Non-doorman studios (-0.30%), doorman two-bedrooms (-2.04%)

Upper West Side— Non-doorman studios (-0.85%)

Upper East Side— Non-doorman studios (-1.16%), non-doorman one-bedrooms (-1.42%), doorman one-bedrooms (-1.69%), non-doorman two-bedrooms (-0.04%)

Midtown West— Non-doorman two-bedrooms (-5.99%), doorman two-bedrooms (-0.60%)

Midtown East— Doorman one-bedrooms (-6.55%), non-doorman two-bedrooms (-5.95%)

Murray Hill— Non-doorman studios (-3.31%), doorman studios (-6.02%), non-doorman one-bedrooms (-3.52%), doorman one-bedrooms (-1.99%), non-doorman two-bedrooms (-6.49%), doorman two-bedrooms (-5.90%)

Chelsea— Non-doorman studios (-0.83%), non-doorman two-bedrooms (-6.08%), doorman two-bedrooms (-3.93%)

Greenwich Village— Doorman studios (-2.68%), non-doorman one-bedrooms (-2.13%)

East Village— Doorman studios (-2.22%)

SoHo— Doorman studios (-7.65%), non-doorman one-bedrooms (-0.29%), non-doorman two-bedrooms (-5.83%), doorman two-bedrooms (-7.88%)

Lower East Side— Non-doorman one-bedrooms (-5.70%), doorman one-bedrooms (-7.53%)

TriBeCa— Non-doorman one-bedrooms (-6.84%), non-doorman two-bedrooms (-0.60%)

Financial District— Non-doorman two-bedrooms (-5.75%), doorman two-bedrooms (-3.42%)

Where Prices Increased:

Harlem— Doorman studios (1.86%), non-doorman one-bedrooms (5.14%), doorman one-bedrooms (2.74%), non-doorman two-bedrooms (3.03%)

Upper West Side— Doorman studios (7.02%), non-doorman one-bedrooms (2.88%), doorman one-bedrooms (3.23%), non-doorman two-bedrooms (2.30%), doorman two-bedrooms (0.82%)

Upper East Side— Doorman studios (1.40%), doorman two-bedrooms (0.98%)

Midtown West— Non-doorman studios (5.20%), doorman studios (3.73%), non-doorman one-bedrooms (4.79%), doorman one-bedrooms (1.61%)

Midtown East— Non-doorman studios (1.10%), doorman studios (3.21%), non-doorman one-bedrooms (6.24%), doorman two-bedrooms (3.42%)

Chelsea— Doorman studios (2.82%), non-doorman one-bedrooms (0.40%), doorman one-bedrooms (1.85%)

Gramercy Park— Non-doorman studios (0.79%), doorman studios (2.87%), non-doorman one-bedrooms (3.67%), doorman one-bedrooms (1.89%), non-doorman two-bedrooms (3.97%), doorman two-bedrooms (0.61%)

Greenwich Village— Non-doorman studios (2.85%), doorman one-bedrooms (2.15%), non-doorman two-bedrooms (0.61%), doorman two-bedrooms (7.30%)

East Village— Non-doorman studios (3.82%), non-doorman one-bedrooms (0.05%), doorman one-bedrooms (1.83%), non-doorman two-bedrooms (0.37%), doorman two-bedrooms (6.38%)

SoHo— Non-doorman studios (6.69%), doorman one-bedrooms (7.89%)

Lower East Side— Non-doorman studios (4.28%), doorman studios (8.93%), non-doorman two-bedrooms (1.30%), doorman two-bedrooms (8.28%)

TriBeCa— Non-doorman studios (7.85%), doorman studios (1.51%), doorman one-bedrooms (0.95%), doorman two-bedrooms (3.59%)

Financial District— Non-doorman studios (5.64%), doorman studios (2.84%), non-doorman one-bedrooms (7.02%), doorman one-bedrooms (0.92%)

Battery Park City— Doorman studios (4.25%), doorman one-bedrooms (9.48%), doorman two-bedrooms (6.47%)

Tips for Renters:

• Midtown East drops prices. Having been on the rise since last summer, rents for non-doorman two-bedroom units in Midtown East fell 5.95% this month. Now offering a discount to their Murray Hill neighbors, these units should be back on the radar for thrifty renters.
• Murray Hill filled with deals. New grads looking for deals this month should head first to Murray Hill. Rents are down in the neighborhood 4.54% overall and by as much as 6.49% in non-doorman two-bedroom units
• Chelsea – Manhattan’s top June steal. Non-doorman two-bedrooms in Chelsea are down 6.08% this month to $ 4,152. This is the lowest price point since TREGNY began recording data – making these apartments June’s best bet for a deal.

Mean Manhattan Rental Prices

The Mean Rental Price graphs illustrate average monthly rents for studios, one–bedrooms and two–bedrooms in doorman and non–doorman buildings in Manhattan for the month of June 2010. Graphs tracking citywide and neighborhood price changes over a rolling 13-month period follow.

Manhattan Price Trends

Neighborhood Price Trends

Upper West Side

Upper East Side

Midtown West

Midtown East

Murray Hill

Chelsea

Gramercy Park

Greenwich Village

East Village

SoHo

Lower East Side

TriBeCa

Financial District

Battery Park City

Harlem

The Report Explained

The Manhattan Rental Market Report is the only report that compares fluctuation in the city’s rental data on a monthly basis. It is an essential tool for potential renters seeking transparency in the NYC apartment market and a benchmark for landlords to efficiently and fairly adjust individual property rents in Manhattan.

The Manhattan Rental Market Report is based on data cross-sectioned from over 10,000 currently available listings located below 155th Street and priced under $10,000, with ultra-luxury property omitted to obtain a true monthly rental average. Our data is aggregated from the The Real Estate Group NY proprietary database and sampled from a specific mid-month point to record current rental rates offered by landlords during that particular month. It is then combined with information from the REBNY Real Estate Listings Source (RLS), OnLine Residential (OLR.com) and R.O.L.E.X. (Real Plus).

Contact us now: 212.475.9000

Note: All market data is collected and compiled by The Real Estate Group NY’s marketing department. The information presented here are intended for instructive purposes only and has been gathered from sources deemed reliable, though it may be subject to errors, omissions, changes or withdrawal without notice.

If you would like to republish this report on the web, please be sure to source it as the “Manhattan Rental Market Report” with a link back to its original location (http://www.tregny.com/manhattan_rental_market_report).

Updated: June 2010

Download in PDF for a more readable, printer-friendly option

Table of Contents:

• Bay Ridge
• Bedford–Stuyvesant
• Boerum Hill
• Brooklyn Heights
• Bushwick
• Clinton Hill
• Cobble Hill
• Crown Heights
• DUMBO
• Fort Greene
• Greenpoint
• Prospect Lefferts Gardens
• Park Slope
• Williamsburg

Introduction

The Real Estate Group NY is proud to present the June 2010 installment of the Brooklyn Rental Market Report, which will provide insight to the current state of the residential rental market, and provide clearer, more concise data than ever before available for the Brooklyn real estate market.

The data provided has been specifically compiled for you; the renter, investor, developer, landlord, property manager etc., to provide you with a better understanding of the Brooklyn housing market. The data is indicative of the types of apartments available in varying neighborhoods. Our goal is to use technology to provide you with transparency into a market that has been so difficult to navigate until now.

In the future as our data continues to grow, the monthly Brooklyn Rental Market Report will be even more comprehensive providing further insight with greater reporting capabilities on the state of the market, and to create the ability for all property owners to better gauge their own pricing based on a clearer view of their neighbors.

As The Real Estate Group NY continues to grow, we aim to make the Brooklyn Rental Market Report, the only true and accurate report you will ever need.

Mean Brooklyn Rental Prices

The Mean Rental Price graphs illustrate average monthly rents for studios, one–bedrooms and two–bedrooms for the month of June 2010.

Updated: May 2010

Download in PDF for a more readable, printer-friendly option

Table of Contents:

• Introduction
• A Quick Look
• Mean Manhattan Rental Prices
• Manhattan Price Trends
• Neighborhood Price Trends
  • Upper West Side
  • Upper East Side
  • Midtown West
  • Midtown East
  • Murray Hill
  • Chelsea
  • Gramercy Park
  • Greenwich Village
  • East Village
  • SoHo
  • Lower East Side
  • TriBeCa
  • Financial District
  • Battery Park City
  • Harlem
• The Report Explained

Introduction

The Real Estate Group NY is proud to present the May 2010 edition of our Manhattan Rental Market Report™, the only research on the city’s rental rates published on a monthly basis.

Manhattan is abuzz with news that the rental market has “recovered” and the data this month confirms that the market is gaining strength and returning to some sense of normality. As the summer months usually see an increase in both activity and prices, it is not unusual for us to note positive numbers this month; however, given the depressed activity we have previously been observing, these statistics are a welcome reprieve for landlords and property managers around Manhattan.

Rents are up 1.94% vs. April and 1.72% vs. May of 2009. Moreover, inventories slightly decreased this month, falling 0.71%. This increase in prices coupled with the decrease in inventories lends support to assertions that the rental market has finally turned the corner.

Having seen that the market is gaining strength, many major landlords have pulled their incentives this month. As summer activity increases, the remaining deals with incentives will be snatched up by motivated early summer renters.

A Quick Look

Greatest Changes Since April:

• Non–doorman studios – TriBeCa – Up 9.90% ($313)
• Non–doorman one–bedrooms – Financial District – Up 11.60% ($323)
• Non–doorman two–bedroom – SoHo – Up 7.98% ($375)

• Doorman studios – TriBeCa – Up 9.71% ($254)
• Doorman one–bedrooms – Midtown East – Up 5.40% ($186)
• Doorman two–bedroom – Gramercy Park – Up 9.97% ($536)

Year-over-year Changes:

Notable Trends:

Rents Move Upward — Rent increases are beginning to pick up steam this month with prices up 1.94% overall since last month and 1.72% since 2009. As vacancies continue to remain stable, we anticipate these upticks will come at an even greater pace as landlords test the market’s strength.

Inventories Stabilize — Vacancies around Manhattan are down 0.71% this month. While not a large drop, this is a promising figure for landlords as inventories have continued to decline in conjunction with price increases.

Collecting Fees — With many major landlords in Manhattan removing OPs, it appears that the rental market is shifting back to a fee market. As summer activity picks up, owner paid fees are likely to become rare.

Where Prices Decreased:

Harlem— Doorman two-bedrooms (-5.88%)

Upper West Side— Doorman studios (-1.65%), doorman one-bedrooms (-1.01%), non-doorman two-bedrooms (-0.36%)

Upper East Side— Non-doorman one-bedrooms (-0.54%), doorman two-bedrooms (-0.32%)

Midtown West— Non-doorman studios (-2.12%), non-doorman one-bedrooms (-0.16%)

Midtown East— Non-doorman studios (-1.22%)

Murray Hill— Doorman two-bedrooms (-0.83%)

Chelsea— Doorman one-bedrooms (-1.40%), non-doorman two-bedrooms (-4.70%)

Gramercy Park— Non-doorman studios (-4.54%), doorman one-bedrooms (-0.84%)

Greenwich Village— Doorman one-bedrooms (-3.04%), doorman two-bedrooms (-2.40%)

East Village— Non-doorman studios (-7.71%), non-doorman one-bedrooms (-6.15%), doorman two-bedrooms (-1.78%)

SoHo— Non-doorman studios (-1.96%), doorman one-bedrooms (-4.07%)

Lower East Side— Doorman studios (-6.40%), non-doorman two-bedrooms (-2.07%), doorman two-bedrooms (-4.98%)

TriBeCa— Non-doorman one-bedrooms (-4.52%), doorman two-bedrooms (-3.46%)

Battery Park City— Doorman one-bedrooms (-2.79%)

Where Prices Increased:

Harlem— Non-doorman studios (2.44%), doorman studios (2.32%), non-doorman one-bedrooms (0.39%), doorman one-bedrooms (0.07%), non-doorman two-bedrooms (4.3%)

Upper West Side— Non-doorman studios (2.97%), non-doorman one-bedrooms (0.44%), doorman two-bedrooms (2.88%)

Upper East Side— Non-doorman studios (1.37%), doorman studios (0.64%), doorman one-bedrooms (3.63%), non-doorman two-bedrooms (6.86%)

Midtown West— Doorman studios (2.60%), doorman one-bedrooms (1.16%), non-doorman two-bedrooms (5.66%), doorman two-bedrooms (0.24%)

Midtown East— Doorman studios (3.51%), non-doorman one-bedrooms (1.53%), doorman one-bedrooms (5.40%), non-doorman two-bedrooms (4.06%), doorman two-bedrooms (4.22%)

Murray Hill— Non-doorman studios (2.57%), doorman studios (1.48%), non-doorman one-bedrooms (0.90%), doorman one-bedrooms (1.29%), non-doorman two-bedrooms (4.07%)

Chelsea— Non-doorman studios (7.44%), doorman studios (2.07%), non-doorman one-bedrooms (1.86%), doorman two-bedrooms (3.13%)

Gramercy Park— Doorman studios (0.32%), non-doorman one-bedrooms (2.66%), non-doorman two-bedrooms (3.79%), doorman two-bedrooms (9.97%)

Greenwich Village— Non-doorman studios (0.60%), doorman studios (6.07%), non-doorman one-bedrooms (2.16%), non-doorman two-bedrooms (4.64%)

East Village— Doorman studios (6.61%), doorman one-bedrooms (2.84%), non-doorman two-bedrooms (2.30%)

SoHo— Doorman studios (7.65%), non-doorman one-bedrooms (2.24%), non-doorman two-bedrooms (7.98%), doorman two-bedrooms (1.70%)

Lower East Side— Non-doorman studios (9.57%), non-doorman one-bedrooms (8.13%), doorman one-bedrooms (4.37%)

TriBeCa— Non-doorman studios (9.90%), doorman studios (9.71%), doorman one-bedrooms (2.64%), non-doorman two-bedrooms (7.89%)

Financial District— Non-doorman studios (4.03%), doorman studios (2.68%), non-doorman one-bedrooms (11.60%), doorman one-bedrooms (1.54%), non-doorman two-bedrooms (7.67%), doorman two-bedrooms (0.96%)

Battery Park City— Doorman studios (7.93%), doorman two-bedrooms (4.71%)

Tips for Renters:

• Upper West Side continues to fall. Non-doorman two-bedroom units on the Upper West Side continue to get a break on rents this month, making them an even better deal for renters. Rents are now averaging $2,896 this month, the lowest price point since The Real Estate Group began recording data in 2007.
• Rock bottom East Village deals. Those in the market for a one-bedroom unit should head to the East Village this month. Non-doorman one-bedroom units fell 6.15% this month to $2,313. These units are now at their lowest price point in over two years.
• Space for less on the Lower East Side. Renters looking for an unbeatable combination of space & convenience should head to the Lower East Side. Non-doorman two-bedroom units are now only $3,022 — a 2.07% decline from last month’s numbers and the lowest these units have been since The Real Estate Group began recording data in 2007.

Mean Manhattan Rental Prices

The Mean Rental Price graphs illustrate average monthly rents for studios, one–bedrooms and two–bedrooms in doorman and non–doorman buildings in Manhattan for the month of May 2010. Graphs tracking citywide and neighborhood price changes over a rolling 13-month period follow.

Manhattan Price Trends

Neighborhood Price Trends

Upper West Side

Upper East Side

Midtown West

Midtown East

Murray Hill

Chelsea

Gramercy Park

Greenwich Village

East Village

SoHo

Lower East Side

TriBeCa

Financial District

Battery Park City

Harlem

The Report Explained

The Manhattan Rental Market Report is the only report that compares fluctuation in the city’s rental data on a monthly basis. It is an essential tool for potential renters seeking transparency in the NYC apartment market and a benchmark for landlords to efficiently and fairly adjust individual property rents in Manhattan.

The Manhattan Rental Market Report is based on data cross-sectioned from over 10,000 currently available listings located below 155th Street and priced under $10,000, with ultra-luxury property omitted to obtain a true monthly rental average. Our data is aggregated from the The Real Estate Group NY proprietary database and sampled from a specific mid-month point to record current rental rates offered by landlords during that particular month. It is then combined with information from the REBNY Real Estate Listings Source (RLS), OnLine Residential (OLR.com) and R.O.L.E.X. (Real Plus).

Contact us now: 212.475.9000

Note: All market data is collected and compiled by The Real Estate Group NY’s marketing department. The information presented here are intended for instructive purposes only and has been gathered from sources deemed reliable, though it may be subject to errors, omissions, changes or withdrawal without notice.

If you would like to republish this report on the web, please be sure to source it as the “Manhattan Rental Market Report” with a link back to its original location (http://www.tregny.com/manhattan_rental_market_report).

Updated: May 2010

Download in PDF for a more readable, printer-friendly option

Table of Contents:

• Bay Ridge
• Bedford–Stuyvesant
• Boerum Hill
• Brooklyn Heights
• Bushwick
• Clinton Hill
• Cobble Hill
• Crown Heights
• DUMBO
• Fort Greene
• Greenpoint
• Prospect Lefferts Gardens
• Park Slope
• Williamsburg

Introduction

The Real Estate Group NY is proud to present the May 2010 installment of the Brooklyn Rental Market Report, which will provide insight to the current state of the residential rental market, and provide clearer, more concise data than ever before available for the Brooklyn real estate market.

The data provided has been specifically compiled for you; the renter, investor, developer, landlord, property manager etc., to provide you with a better understanding of the Brooklyn housing market. The data is indicative of the types of apartments available in varying neighborhoods. Our goal is to use technology to provide you with transparency into a market that has been so difficult to navigate until now.

In the future as our data continues to grow, the monthly Brooklyn Rental Market Report will be even more comprehensive providing further insight with greater reporting capabilities on the state of the market, and to create the ability for all property owners to better gauge their own pricing based on a clearer view of their neighbors.

As The Real Estate Group NY continues to grow, we aim to make the Brooklyn Rental Market Report, the only true and accurate report you will ever need.

Mean Brooklyn Rental Prices

The Mean Rental Price graphs illustrate average monthly rents for studios, one–bedrooms and two–bedrooms for the month of May 2010.

Updated: April 2010

Download in PDF for a more readable, printer-friendly option

Table of Contents:

• Bay Ridge
• Bedford–Stuyvesant
• Boerum Hill
• Brooklyn Heights
• Bushwick
• Clinton Hill
• Cobble Hill
• Crown Heights
• DUMBO
• Fort Greene
• Greenpoint
• Prospect Lefferts Gardens
• Park Slope
• Williamsburg

Introduction

The Real Estate Group NY is proud to present the April 2010 installment of the Brooklyn Rental Market Report, which will provide insight to the current state of the residential rental market, and provide clearer, more concise data than ever before available for the Brooklyn real estate market.

The data provided has been specifically compiled for you; the renter, investor, developer, landlord, property manager etc., to provide you with a better understanding of the Brooklyn housing market. The data is indicative of the types of apartments available in varying neighborhoods. Our goal is to use technology to provide you with transparency into a market that has been so difficult to navigate until now.

In the future as our data continues to grow, the monthly Brooklyn Rental Market Report will be even more comprehensive providing further insight with greater reporting capabilities on the state of the market, and to create the ability for all property owners to better gauge their own pricing based on a clearer view of their neighbors.

As The Real Estate Group NY continues to grow, we aim to make the Brooklyn Rental Market Report, the only true and accurate report you will ever need.

Mean Brooklyn Rental Prices

The Mean Rental Price graphs illustrate average monthly rents for studios, one–bedrooms and two–bedrooms for the month of April 2010.

Updated: April 2010

Download in PDF for a more readable, printer-friendly option

Table of Contents:

• Introduction
• A Quick Look
• Mean Manhattan Rental Prices
• Manhattan Price Trends
• Neighborhood Price Trends
  • Upper West Side
  • Upper East Side
  • Midtown West
  • Midtown East
  • Murray Hill
  • Chelsea
  • Gramercy Park
  • Greenwich Village
  • East Village
  • SoHo
  • Lower East Side
  • TriBeCa
  • Financial District
  • Battery Park City
  • Harlem
• The Report Explained

Introduction

The Real Estate Group NY is proud to present the April 2010 edition of our Manhattan Rental Market Report™, the only research on the city’s rental rates published on a monthly basis.

There is good news for Manhattan’s rental market this month. Rents are beginning the slow climb upwards and have risen 1.10% overall since March and are actually up 0.27% vs. 2009 numbers. In addition, some landlords have already begun to pull incentives in preparation for the summer months. These are both positive indicators that the market is finally gaining strength.

Inventories, however, are more indicative of a still uncertain consumer sentiment. Vacancies are up 1.17% across Manhattan, creating some doubt as to the sustainability of the rent upticks seen recently.

As activity continues to increase this summer, it appears that the market will continue to gain ground. Yet, given the depths the market fell, in addition to a lack of real employment growth, it seems that it may take longer than landlords anticipated to recover their losses.

A Quick Look

Greatest Changes Since March:

• Non–doorman studios – SoHo – Up 9.95% ($262)
• Non–doorman one–bedrooms – Gramercy Park – Down -5.06% ($131)
• Non–doorman two–bedroom – Midtown West – Up 8.55% ($215)

• Doorman studios – Lower East Side – Up 15.75% ($306)
• Doorman one–bedrooms – Lower East Side – Up 9.61% ($259)
• Doorman two–bedroom – TriBeCa – Up 12.24% ($712)

Year-over-year Changes:

Notable Trends:

The Slow Climb — Rents are again up from last month about 1.10% and are even beginning to gain slightly vs. 2009. Rents are up .27% vs. last year – a trend we anticipate will continue as the summer months heat up the rental market.

Inventory Shows Uncertainty — While rents appear to be gaining strength this month, vacancy numbers are showing that there is still uncertainty in the market. Inventories in non-doorman units are up 3.61% and are up overall by 1.17%.

Split the Rent — Non-doorman two-bedroom units continue to be the weakest category this month with rents down in these units 0.36% vs. last month and 1.38% vs. 2009. We’d encourage renters looking for a bargain to grab a roommate and check out some of the deals around Manhattan.

Where Prices Decreased:

Harlem— Non-doorman studios (-2.20%), doorman studios (-1.04%), non-doorman one-bedrooms (-1.44%), non-doorman two-bedrooms (-1.29%)

Upper West Side— Non-doorman two-bedrooms (-6.64%)

Upper East Side— Doorman studios (-0.12%), non-doorman two-bedrooms (-1.24%)

Midtown West— Doorman studios (-0.57%)

Midtown East— Non-doorman studios (-2.81%), non-doorman one-bedrooms (-0.23%), non-doorman two-bedrooms (-4.68%), doorman two-bedrooms (-7.49%)

Murray Hill— Doorman studios (-0.28%), non-doorman one-bedrooms (-1.76%)

Chelsea— Non-doorman one-bedrooms (-3.88%), doorman two-bedrooms (-2.01%)

Gramercy Park— Non-doorman one-bedrooms (-5.06%), doorman one-bedrooms (-1.89%), doorman two-bedrooms (-7.87%)

Greenwich Village— Doorman studios (-1.21%), non-doorman two-bedrooms (-2.86%)

East Village— Doorman studios (-1.10%), doorman two-bedrooms (-0.73%)

SoHo— Non-doorman one-bedrooms (-1.83%)

Lower East Side— Non-doorman studios (-7.57%), non-doorman one-bedrooms (-1.36%), non-doorman two-bedrooms (-7.58%), doorman two-bedrooms (-6.76%)

TriBeCa— Non-doorman studios (-8.97%), non-doorman two-bedrooms (-5.58%)

Financial District— Doorman studios (-2.09%)

Where Prices Increased:

Harlem— Doorman one-bedrooms (7.37%), doorman two-bedrooms (3.21%)

Upper West Side— Non-doorman studios (2.24%), doorman studios (1.48%), non-doorman one-bedrooms (1.12%), doorman one-bedrooms (1.56%), doorman two-bedrooms (1.62%)

Upper East Side— Non-doorman studios (3.45%), non-doorman one-bedrooms (3.18%), doorman one-bedrooms (1.18%), doorman two-bedrooms (1.95%)

Midtown West— Non-doorman studios (0.78%), non-doorman one-bedrooms (1.15%), doorman one-bedrooms (2.29%), non-doorman two-bedrooms (8.55%), doorman two-bedrooms (7.01%)

Midtown East— Doorman studios (1.58%), doorman one-bedrooms (2.82%)

Murray Hill— Non-doorman studios (5.93%), doorman one-bedrooms (3.88%), non-doorman two-bedrooms (6.89%), doorman two-bedrooms (3.33%)

Chelsea— Non-doorman studios (7.05%), doorman studios (1.82%), doorman one-bedrooms (1.38%), non-doorman two-bedrooms (1.86%)

Gramercy Park— Non-doorman studios (2.09%), doorman studios (1.84%), non-doorman two-bedrooms (2.44%)

Greenwich Village— Non-doorman studios (3.04%), non-doorman one-bedrooms (0.13%), doorman one-bedrooms (1.36%), doorman two-bedrooms (7.03%)

East Village— Non-doorman studios (6.46%), non-doorman one-bedrooms (0.12%), doorman one-bedrooms (1.02%), non-doorman two-bedrooms (2.17%)

SoHo— Non-doorman studios (9.95%), doorman studios (7.40%), doorman one-bedrooms (4.86%), non-doorman two-bedrooms (1.90%), doorman two-bedrooms (4.54%)

Lower East Side— Doorman studios (15.75%), doorman one-bedrooms (9.61%)

TriBeCa— Doorman studios (0.94%), non-doorman one-bedrooms (3.31%), doorman one-bedrooms (4.46%), doorman two-bedrooms (12.24%)

Financial District— Non-doorman studios (3.60%), non-doorman one-bedrooms (4.90%), doorman one-bedrooms (1.53%), non-doorman two-bedrooms (4.73%), doorman two-bedrooms (4.91%)

Battery Park City— Doorman studios (0.63%), doorman one-bedrooms (0.88%), doorman two-bedrooms (0.70%)

Tips for Renters:

• Chelsea stays cheap. Non-doorman one-bedroom units in Chelsea have fallen again this month – down 3.88% vs. March. For just $2,675, renters can get the space, charm and convenience that Chelsea offers.
• Extra space for less cash. Renters looking for a two-bedroom should put the Lower East Side back on their lists. While rents skyrocketed in the area during the last upswing, rents are returning to normal bargain levels with two-bedroom units averaging just $3,745 for a doorman building and $3,086 for non-doorman digs.
• UWS takes a dive. Non-doorman two-bedroom units on the Upper West Side took a dive this month falling 6.64% from March’s figures. These units are down to $2,906 which is the lowest price point we have seen in over a year.

Mean Manhattan Rental Prices

The Mean Rental Price graphs illustrate average monthly rents for studios, one–bedrooms and two–bedrooms in doorman and non–doorman buildings in Manhattan for the month of April 2010. Graphs tracking citywide and neighborhood price changes over a rolling 13-month period follow.

Manhattan Price Trends

Neighborhood Price Trends

Upper West Side

Upper East Side

Midtown West

Midtown East

Murray Hill

Chelsea

Gramercy Park

Greenwich Village

East Village

SoHo

Lower East Side

TriBeCa

Financial District

Battery Park City

Harlem

The Report Explained

The Manhattan Rental Market Report is the only report that compares fluctuation in the city’s rental data on a monthly basis. It is an essential tool for potential renters seeking transparency in the NYC apartment market and a benchmark for landlords to efficiently and fairly adjust individual property rents in Manhattan.

The Manhattan Rental Market Report is based on data cross-sectioned from over 10,000 currently available listings located below 155th Street and priced under $10,000, with ultra-luxury property omitted to obtain a true monthly rental average. Our data is aggregated from the The Real Estate Group NY proprietary database and sampled from a specific mid-month point to record current rental rates offered by landlords during that particular month. It is then combined with information from the REBNY Real Estate Listings Source (RLS), OnLine Residential (OLR.com) and R.O.L.E.X. (Real Plus).

Contact us now: 212.475.9000

Note: All market data is collected and compiled by The Real Estate Group NY’s marketing department. The information presented here are intended for instructive purposes only and has been gathered from sources deemed reliable, though it may be subject to errors, omissions, changes or withdrawal without notice.

If you would like to republish this report on the web, please be sure to source it as the “Manhattan Rental Market Report” with a link back to its original location (http://www.tregny.com/manhattan_rental_market_report).

Updated: March 2010

Download in PDF for a more readable, printer-friendly option

Table of Contents:

• Introduction
• A Quick Look
• Mean Manhattan Rental Prices
• Manhattan Price Trends
• Neighborhood Price Trends
  • Upper West Side
  • Upper East Side
  • Midtown West
  • Midtown East
  • Murray Hill
  • Chelsea
  • Gramercy Park
  • Greenwich Village
  • East Village
  • SoHo
  • Lower East Side
  • TriBeCa
  • Financial District
  • Battery Park City
  • Harlem
• The Report Explained

Introduction

The Real Estate Group NY is proud to present the March 2010 edition of our Manhattan Rental Market Report™, the only research on the city’s rental rates published on a monthly basis.

The Manhattan rental market continues its slow return to normality this month. Rents are up 0.62% across Manhattan this month vs. last and the gap in year-over-year numbers continues to close. March 2010 numbers only lag 2009 figures by 1.52%. Vacancies, however, did see an increase of 1.21% overall.

While adjustments from landlords and property managers were sparse this month, as the spring and summer months bring an increase in activity to the market, renters should expect to see steady price increases from landlords looking to recoup some of their down market losses.

A Quick Look

Greatest Changes Since February:

• Non–doorman studios – Gramercy Park – Up 8.36% ($155)
• Non–doorman one–bedrooms – Financial District – Down -6.21% ($176)
• Non–doorman two–bedroom – East Village – Up 6.79% ($194)

• Doorman studios – East Village – Up 7.96% ($178)
• Doorman one–bedrooms – SoHo – Down -6.62% ($275)
• Doorman two–bedroom – SoHo – Up 6.61% ($433)

Year-over-year Changes:

Notable Trends:

Rents Creep Up — Rents continue to creep upwards this month. Across the city, rents are up 0.62% this month vs. last while year-over-year numbers continue to stabilize. This month’s numbers only lag 2009 figures by 1.52% – a marked improvement from February’s gap of almost 3%.

Vacancies See an Uptick — Vacancies saw a slight uptick this month in both the non-doorman and doorman sectors – increasing by 1.21% overall. Yet, given the low activity levels and price increases, this modest climb is actually a good sign for the overall health of the rental market.

Doorman Properties Lead Rebound — While doorman properties were some of the hardest hit this downturn, it appears that they will also be the sector that leads the rebound. Rents in these units are up 1.31% this month vs. last – while non-doorman units were virtually flat at -0.08%. As activity picks up this summer, renters should anticipate a return to paying a premium for service.

Where Prices Decreased:

Harlem— Non-doorman studios (-6.17%), doorman studios (-1.81%), non-doorman one-bedrooms (-2.81%), non-doorman two-bedrooms (-0.70%)

Upper East Side— Non-doorman studios (-0.16%), non-doorman two-bedrooms (-0.45%)

Midtown West— Non-doorman studios (-2.53%), doorman one-bedrooms (-3.89%), doorman two-bedrooms (-0.83%)

Midtown East— Doorman studios (-1.72%), non-doorman one-bedrooms (-4.24%)

Murray Hill— Non-doorman studios (-0.82%), doorman two-bedrooms (-3.58%)

Chelsea— Non-doorman studios (-1.69%), doorman studios (-1.78%), non-doorman one-bedrooms (-2.69%), non-doorman two-bedrooms (-0.75%)

Gramercy Park— Non-doorman one-bedrooms (-1.74%), non-doorman two-bedrooms (-1.07%)

Greenwich Village— Non-doorman studios (-0.30%), doorman studios (-3.79%), doorman one-bedrooms (-1.74%), non-doorman two-bedrooms (-4.41%), doorman two-bedrooms (-4.23%)

East Village— Non-doorman one-bedrooms (-2.51%), doorman two-bedrooms (-6.30%)

SoHo— Non-doorman one-bedrooms (-2.31%), doorman one-bedrooms (-6.62%)

Lower East Side— Non-doorman two-bedrooms (-4.24%)
TriBeCa— Non-doorman studios (-3.35%), doorman studios (-6.29%), non-doorman two-bedrooms (-6.58%)

Financial District— Non-doorman studios (-3.53%), doorman studios (-0.43%), non-doorman one-bedrooms (-6.21%), non-doorman two-bedrooms (-5.87%)

Battery Park City— Doorman studios (-1.09%)

Where Prices Increased:

Harlem— Doorman one-bedrooms (1.11%), doorman two-bedrooms (1.80%)

Upper West Side— Non-doorman studios (1.97%), doorman studios (0.02%), non-doorman one-bedrooms (0.08%), doorman one-bedrooms (0.79%), non-doorman two-bedrooms (1.06%), doorman two-bedrooms (3.27%)

Upper East Side— Doorman studios (0.81%), non-doorman one-bedrooms (2.45%), doorman one-bedrooms (0.73%), doorman two-bedrooms (2.11%)

Midtown West— Doorman studios (0.49%), non-doorman one-bedrooms (3.52%), non-doorman two-bedrooms (2.95%)

Midtown East— Non-doorman studios (2.39%), doorman one-bedrooms (5.67%), non-doorman two-bedrooms (4.33%), doorman two-bedrooms (2.99%)

Murray Hill— Doorman studios (2.07%), non-doorman one-bedrooms (2.74%), doorman one-bedrooms (0.23%), non-doorman two-bedrooms (3.46%)

Chelsea— Doorman one-bedrooms (2.89%), doorman two-bedrooms (6.18%)

Gramercy Park— Non-doorman studios (8.36%), doorman studios (4.48%), doorman one-bedrooms (4.17%), doorman two-bedrooms (5.21%)

Greenwich Village— Non-doorman one-bedrooms (0.72%)

East Village— Non-doorman studios (6.69%), doorman studios (7.96%), doorman one-bedrooms (4.02%), non-doorman two-bedrooms (6.79%)

SoHo— Non-doorman studios (3.63%), doorman studios (4.98%), non-doorman two-bedrooms (3.80%), doorman two-bedrooms (6.61%)

Lower East Side— Non-doorman studios (4.60%), doorman studios (6.76%), non-doorman one-bedrooms (5.92%), doorman one-bedrooms (3.70%), doorman two-bedrooms (5.84%)

TriBeCa— Non-doorman one-bedrooms (5.83%), doorman one-bedrooms (2.09%), doorman two-bedrooms (5.88%)

Financial District— Doorman one-bedrooms (2.74%), doorman two-bedrooms (2.77%)

Battery Park City— Doorman one-bedrooms (5.71%), doorman two-bedrooms (1.68%)

Tips for Renters:

• Chelsea hits bottom. Chelsea non-doorman studios have been steadily decreasing over the past 13 months and rents fell an additional 1.69% this month to $1772. This is their lowest price point since TREGNY began recording data.
• Gramercy Park becomes affordable. Renters looking for a bargain, but don’t want to sacrifice on neighborhood or space should head to Gramercy Park. Non-doorman two-bedroom units, which have been steadily falling in price, are now down to only $3,299 – nearly a 17% decrease from 2009 numbers.
• Head to the hill. Non-doorman studio pricing continues to fall this month in Murray Hill. These units are down 0.82% vs. last month and now average just $1,727.

Mean Manhattan Rental Prices

The Mean Rental Price graphs illustrate average monthly rents for studios, one–bedrooms and two–bedrooms in doorman and non–doorman buildings in Manhattan for the month of March 2010. Graphs tracking citywide and neighborhood price changes over a rolling 13-month period follow.

Manhattan Price Trends

Neighborhood Price Trends

Upper West Side

Upper East Side

Midtown West

Midtown East

Murray Hill

Chelsea

Gramercy Park

Greenwich Village

East Village

SoHo

Lower East Side

TriBeCa

Financial District

Battery Park City

Harlem

The Report Explained

The Manhattan Rental Market Report is the only report that compares fluctuation in the city’s rental data on a monthly basis. It is an essential tool for potential renters seeking transparency in the NYC apartment market and a benchmark for landlords to efficiently and fairly adjust individual property rents in Manhattan.

The Manhattan Rental Market Report is based on data cross-sectioned from over 10,000 currently available listings located below 155th Street and priced under $10,000, with ultra-luxury property omitted to obtain a true monthly rental average. Our data is aggregated from the The Real Estate Group NY proprietary database and sampled from a specific mid-month point to record current rental rates offered by landlords during that particular month. It is then combined with information from the REBNY Real Estate Listings Source (RLS), OnLine Residential (OLR.com) and R.O.L.E.X. (Real Plus).

Contact us now: 212.475.9000

Note: All market data is collected and compiled by The Real Estate Group NY’s marketing department. The information presented here are intended for instructive purposes only and has been gathered from sources deemed reliable, though it may be subject to errors, omissions, changes or withdrawal without notice.

If you would like to republish this report on the web, please be sure to source it as the “Manhattan Rental Market Report” with a link back to its original location (http://www.tregny.com/manhattan_rental_market_report).

Updated: March 2010

Download in PDF for a more readable, printer-friendly option

Table of Contents:

• Bay Ridge
• Bedford–Stuyvesant
• Boerum Hill
• Brooklyn Heights
• Bushwick
• Clinton Hill
• Cobble Hill
• Crown Heights
• DUMBO
• Fort Greene
• Greenpoint
• Prospect Lefferts Gardens
• Park Slope
• Williamsburg

Introduction

The Real Estate Group NY is proud to present the March 2010 installment of the Brooklyn Rental Market Report, which will provide insight to the current state of the residential rental market, and provide clearer, more concise data than ever before available for the Brooklyn real estate market.

The data provided has been specifically compiled for you; the renter, investor, developer, landlord, property manager etc., to provide you with a better understanding of the Brooklyn housing market. The data is indicative of the types of apartments available in varying neighborhoods. Our goal is to use technology to provide you with transparency into a market that has been so difficult to navigate until now.

In the future as our data continues to grow, the monthly Brooklyn Rental Market Report will be even more comprehensive providing further insight with greater reporting capabilities on the state of the market, and to create the ability for all property owners to better gauge their own pricing based on a clearer view of their neighbors.

As The Real Estate Group NY continues to grow, we aim to make the Brooklyn Rental Market Report, the only true and accurate report you will ever need.

Mean Brooklyn Rental Prices

The Mean Rental Price graphs illustrate average monthly rents for studios, one–bedrooms and two–bedrooms for the month of March 2010.