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SHOCKER: UPPER WEST SIDE RENTS ARE FALLING

October 4, 2012 | 6:37 PM - Updated on October 5, 2012 | 7:59 AM
in NEWS, REAL ESTATE
4

For well over a year, Upper West Siders have been facing an onslaught of rent increases. Month after month, prices kept rising. But in September, prices actually fell for most types of apartments, according to a report from MNS. Yes, you heard that right.

The following kinds of apartments saw month-over-month decreases: Non-doorman studios (-5.4%), doorman studios (-3.5%), non-doorman one-bedrooms (-4.1), doorman two-bedrooms (-0.4%). Two-bedrooms with doormen saw an increase: Doorman one-bedrooms (2.9%), non-doorman two-bedrooms (0.4%).

Check out the changes from last year (rents are still mostly higher on a year-over-year basis):

September 2012

  • Studio (with doorman) $2,545
  • Studio (no doorman) $2,013
  • One-bedroom (with doorman) $3,718
  • One-bedroom (no doorman) $2,709
  • Two-bedroom (with doorman) $6,281
  • Two bedroom (no doorman) $3,979

September 2011

  • Studio (with doorman) $2,597
  • Studio (no doorman) $2,014
  • One-bedroom (with doorman) $3,598
  • One-bedroom (no doorman) $2,688
  • Two-bedroom (with doorman) $5,820
  • Two bedroom (no doorman) $3,707
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Daniela Sciaky
Daniela Sciaky
10 years ago

As I read this the rents under “September 2012” look higher, for the most part, than the rents for “September 2011”. For example the One-bedroom (with doorman) is $3,718 under September 2012 and is $3,598 under September 2011. Were the headings mixed up?

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West Sider
Author
West Sider
10 years ago
Reply to  Daniela Sciaky

You’re right Daniela. We should have been more clear. Rents are down on a month-over-month basis (since August), but still mostly higher on a year-over year basis.

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hmmm
hmmm
10 years ago
Reply to  West Sider

What does that mean… i’m still confused

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geoff
geoff
10 years ago

like all tenants, management of my rent strabilized apartment offers a new lease this year, with increases of 2% this yaer, or 4% this year and 4% next year.

instinct? take the 2% this year, and take a chance on what will be negotiated at the city level next year.

is there a science to this that i am missing? only once did i ever take the one year, and it saved me a few hundred dollars, considering the two year offering the following year was reduced from the year before.

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