According to the latest rental market report for november (from Citi Habitats), the vacancy rate in the Manhattan rental market rate has come down slightly, and rents are up from a year ago, an indication that conditions may be improving. Year-over-year, the vacancy rate dipped slightly to 1.29 percent, from 1.87 percent in November 2009. The Soho-Tribeca neighborhood's vacancy rate clocked in at .63 percent, the lowest of all the areas tracked, beating the West Village, which had enjoyed a six-month reign as the neighborhood with the lowest vacancy, prior to this latest report.
The fact that November, usually a "slow" month in manhattan rentals, saw the vacancy drop and rents increase is a good sign that 2011 will be a strong year for real estate here in New york.
Socks today: Cashmere, baby, Cashmere!
No comments:
Post a Comment