Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Considering a lot of apts had multiple roommates paying the rent it makes sense. Also, a lot of the new apt were super expensive for a single person. You had micro apts going at 3000 to 3500
13,000 isn't a lot. Considering 30,000+ people died due to covid I would expect at least many empty apartments. I'm not even going to mention all the “People are fleeing the city in droves,” Let me know when they add a zero to that number because right now it doesn't mean anything.
13,000 isn't a lot. Considering 30,000+ people died due to covid I would expect at least many empty apartments. I'm not even going to mention all the “People are fleeing the city in droves,” Let me know when they add a zero to that number because right now it doesn't mean anything.
Well, the 13,000 was for Manhattan alone, though perhaps Manhattan has been hardest hit with vacancies. That being said, there were an estimated 3,469,240 units of housing in NYC in 2018 and there definitely was some construction since then (and probably a much lower number of conversions of multiple units into single units).
13,000 isn't a lot. Considering 30,000+ people died due to covid I would expect at least many empty apartments. I'm not even going to mention all the “People are fleeing the city in droves,” Let me know when they add a zero to that number because right now it doesn't mean anything.
That’s 13,000 in Manhattan alone. Manhattan is also where the tax base is located. Where the cities best and brightest live. That is a very substantial number.
That’s 13,000 in Manhattan alone. Manhattan is also where the tax base is located. Where the cities best and brightest live. That is a very substantial number.
13,000 out of 850,000 in Manhattan. (per Google)
Per NY Times vacancy rate is 3.67% June 2020 vs 1.61% June 2019.
13,000 vacant apartments with just a 2% increase in Manhattan while going through COVID. For me the vacancy rate isn't significant for all this hoopla. Anyone who thought NYC would bounce back in a week is just unrealistic. I'll start to worry when landlords start slashing their prices drastically.
Somewhere buried in the rent regulation code is a clause that rent regulation will expire if vacancies exceed a certain threshold. I wonder if we've gotten there.
Somewhere buried in the rent regulation code is a clause that rent regulation will expire if vacancies exceed a certain threshold. I wonder if we've gotten there.
That'd be interesting. It'd also be interesting if market rate housing drops below that of Affordable Housing for some areas.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
