Thursday, January 20, 2011

Movin' on up?

My update on the state of the rental market.

The take aways:

Incentives are starting to disappear. Not everywhere. And not all of them. If you're looking for something in a new building you can very easily get a month off (at least). But a lot of those big older buildings have pretty much stopped offering goodies to get the lease signed.

Rents are up. (Sigh.)

They're probably going to be higher. This has been a surprisingly active winter for the rental market... which should make renters a little nervous about waiting until the height of the rental season (June).

If you want something new, your best neighborhoods are probably Midtown West (which still has a lot of new stock) and FiDi.