Some Realtors recommend the Upper East and Upper West Side to their clients when it comes to finding them lower priced apartments but after doing some extensive research, I have to say “au contraire” for starters the Financial District and Battery Park buildings offer more amenities and more space for your dollar. Most of the buildings that I show my clients come with a 24/7 doorman and concierge service, gyms, recreational lounges and the best of all my clients pay “NO FEE”.
In other News I wanted to also inform you about the Real Estate rental market in Manhattan…. Rents are holding very steady and the graphs for the first quarter of 2012 are virtually flat, up just 0.1% from last February overall. This month, I tracked one-bedroom apartments with a 0.3% increase ($10), while studios and two-bedrooms slid down a millimeter to 0.1% ($4) from February.
On an annual basis, the largest increase in rents occurred in two-bedroom apartments at 9.0%, while the smallest year-over-year changes occurred in studios at 3%. In March 2011, I reported a 5% increase in two-bedrooms, and more than an 11% increase in studios, reflected a major shift over the past 12 months in the rental demand for two-bedrooms.
Spring is looking Promising:
Spring is officially here and March rents overall were back up an average of $4. Although up just 6% from last March, we are still swallowing a $250 increase in doorman buildings and a $180 increase in non-doorman buildings.
What areas are expensive for Non-Doorman Buildings (Average Prices):
Most Expensive Least Expensive Studios Tribeca $3,988 Harlem $1.377
One-bedrooms Tribeca $4.733 Harlem $1,822
Two-bedrooms Tribeca $8.013 Harlem $2,132
What areas are expensive for Non-Doorman Buildings (Average Prices)
Most Expensive Least Expensive Studios Tribeca $3,207 Harlem $1.401
One-bedrooms SoHo $4,699 Harlem $2,137
Two-bedrooms SoHo $8,337 Harlem $3,334
Contact Eddie McFields, "Your Source for Properties in the Triangle Below Canal Street" at [email protected]