West Side Rag
  • TOP NEWS
  • OPEN/CLOSED
  • FOOD
  • SCHOOLS
  • OUTDOORS
  • REAL ESTATE
  • ART & CULTURE
  • POLITICS
  • COLUMNS
  • CRIME
  • HISTORY
  • ABSURDITY
  • CONTACT
West Side Rag
No Result
View All Result
Get WSR FREE in your inbox

Search the site

No Result
View All Result

Get WSR FREE in your inbox

AVAILABLE NOW!


HERE

New Report Indicates UWS Rents May Have Bottomed Out

May 25, 2021 | 11:45 AM
in NEWS, REAL ESTATE
10


Photo by Danny Daly.

Rents ticked slightly higher on the Upper West Side in April as compared to the first quarter, according to Streeteasy, a sign that the rental market may have bottomed out and is headed higher.

The market report showed that the inventory of available apartments in the city is shrinking, indicating that people are moving back in and grabbing apartments that have been sitting on the market. After 12 straight months of price declines, average rents ticked slightly higher on a month-over-month basis.

On the Upper West Side, the median asking rent was $2,800 in April, up from $2,717 in the first quarter. But Streeteasy cautioned that the signs of a rebound are still relatively faint — the market is still very subdued when compared with April 2019, and there’s considerably more inventory out there. On the Upper West Side, average rents are still down 17.6% versus April 2019.

“In April, the median asking rent in Manhattan was $2,799 — up $14 from March. But it’s still down significantly from April 2019, when the median was $3,400. There were 28,185 units available for rent in Manhattan in April. That’s a 32% decline from the record high inventory seen in August 2020. But it’s still 40% more than what was available in April 2019. While inventory is coming down, there are still deals to be had. A record-high 45.2% of Manhattan rentals advertised concessions of at least one month of free rent in April.”

As far as sales prices go, the median asking price was $1.66 million in April, up from $1.39 million in the first quarter.

Share this article:
Get WSR FREE in your inbox
Subscribe
Notify of
guest

guest

This site uses Akismet to reduce spam. Learn how your comment data is processed.

10 Comments
Inline Feedbacks
View all comments
Peter
Peter
2 years ago

The median price in the UWS is… calculating, calculating… 16 TIMES higher than that in Brooklyn?!

Amazing times.

0
Reply
Shaun
Shaun
2 years ago
Reply to  Peter

Wait, apartments in Brooklyn are $175 a month?!?!

0
Reply
UWSer
UWSer
2 years ago
Reply to  Peter

Shaun, is that you? 😄

0
Reply
LK
LK
2 years ago
Reply to  UWSer

haha! ha ha ha!

0
Reply
bidenot
bidenot
2 years ago

Until the next big thing hits the city.
It could be another outbreak of the pandemic.
A terror attack, or, most likely, a crime wave spiking up and up and up, especially if (most likely) another progressive democrat take over city hall for another 4 years.

0
Reply
chuck d
chuck d
2 years ago
Reply to  bidenot

you must be fun at parties.

0
Reply
bidenot
bidenot
2 years ago
Reply to  chuck d

Don’t you remember?
We were at the same party last week.
You were alone.
I was with her.
Remember?

0
Reply
J
J
2 years ago

low rents are good thing actually. would we be excited if the price of food was skyrocketing? this city is in a housing crisis and we need to build our way out of it. let’s get the average price down to something that normal people can afford.

0
Reply
PM
PM
2 years ago
Reply to  J

J –

Pls define “skyrocketing” for me, and then look at the 5-yr trend of Manhattan prices. We’re basically back to 2015 levels.

Also, pls define “normal” people. Who’s inhabiting the currently occupied apartments – superhumans?

0
Reply
Matt
Matt
2 years ago

Thank god I made my move to the UWS in the fall before prices started rising.

0
Reply

YOU MIGHT LIKE...

Conjunction Junction: Grammar Guru v. MTA, Round Two
ABSURDITY

Updated: Conjunction Junction: Grammar Guru v. MTA, Round Two

November 30, 2023 | 2:07 PM
Peace of Heart Choir Brings Their Music to People Who Can’t Get to Them
ART

Peace of Heart Choir Brings Their Music to People Who Can’t Get to Them

November 30, 2023 | 11:21 AM
Previous Post

Affordable Housing for Rent: WSFSSH at West 108th

Next Post

Join Dr. Ruth and MSNBC’s Ari Melber for DOROT’s Virtual Benefit!

this week's events image

Explore Your Favorite Subject

20th precinct 24th precinct american museum of natural history animals art bicycling bulletin central park closings columns community board 7 coronavirus crash crime dogs events fdny fire food gale brewer helen rosenthal history homelessness jcc lincoln center monday bulletin morning bulletin nypd openings openings and closings pedestrian safety photography photos politics public schools pupper west side real estate restaurants riverside park silver stars fitness snow sponsored subway upper west side uws

CITY NEWS

The City
Brick Underground
City Limits
Eater
Gothamist
NY Daily News
NY Post
NY Times

LOCAL RESOURCES

Bloomingdale Neighborhood History Group
Central Park Conservancy
CB7
Community Education Council 3
Assembly District 67
The New York Historical Society
Riverside Park
West End Preservation

UWS Blogs

Bloomingdale History Central Park Blogger
North River Notes
Next Post
Join Dr. Ruth and MSNBC’s Ari Melber for DOROT’s Virtual Benefit!

Join Dr. Ruth and MSNBC's Ari Melber for DOROT's Virtual Benefit!

A Year Later, Some Local Spots Are Still Counting Their GoFundMe Blessings

A Year Later, Some Local Spots Are Still Counting Their GoFundMe Blessings

Police Investigating Afternoon Gunfire on 103rd

Police Investigating Afternoon Gunfire on 103rd

  • ABOUT US
  • CONTACT US
  • NEWSLETTER
  • WSR MERCH!
  • ADVERTISE
  • EVENTS
  • PRIVACY POLICY
  • TERMS OF USE
  • SITE MAP
Site design by RLDGROUP

© 2023 West Side Rag | All rights reserved.

No Result
View All Result
  • TOP NEWS
  • THIS WEEK’S EVENTS
  • OPEN/CLOSED
  • FOOD
  • SCHOOLS
  • OUTDOORS
  • REAL ESTATE
  • ART & CULTURE
  • POLITICS
  • COLUMNS
  • CRIME
  • HISTORY
  • ABSURDITY
  • CONTACT US
  • WSR SHOP

© 2023 West Side Rag | All rights reserved.