New York Habitat Blog

2008 was a difficult year for Real Estate in New York. The Furnished apartment market in New York was no different. The most important facts to report were that both prices of apartments and the number of rentals declined in the 1st half of 2009. For apartment owners and people looking to rent an apartment in New York this report brings into focus the challenges of the current real estate market in New York.

New York Furnished Apartment Market Report 1st half 2009

The report looks at details of the market in the 1st half of 2009 versus results from the 1st half of 2007 and 2008. Furthermore, the report makes predictions about the 2nd half of 2009 and into 2010. The following are some key trends seen throughout the report:

• Price declines in all segments including vacation rentals, furnished apartments and room rentals
• Volume of rentals dropping conversely to the price drops (where prices fell the most, volume of rentals fell the least)
• Potential for improvement in the 2nd half of 2009 and into 2010 as prices come down and the recession nears its end

The New York Furnished Apartment Market Report webpage has links to this report as well as previous reports. Check back around February 2010 for 2009 full year market report to see the latest on the vacation rental, furnished apartment and apartment share markets in New York.

To see all apartment listings throughout New York City visit : The New York Vacation Rental search, The New York Furnished Rentals search and The New York roommate share search.

The data in this report is intended to help people looking to rent their apartments in New York plus those looking to rent an apartment in New York. If you have any questions, suggestions or recommendations please comment below or e-mail us at marketreport@nyhabtiat.com.

If you are looking for a furnished apartment in New York feel free to contact our team. They can help you to find the perfect accommodation to meet the needs of any trip to New York.

Previous market report blog articles:

• New York Furnished Apartment Market Report: 2007 1st half
• New York Furnished Apartment Market Report: 2007 2nd half and full year
• New York Furnished Apartment Market Report 2008 1st half
• New York Furnished Apartment Market Report 2008 2nd half and full year

2008 was one of the most volatile years in the New York furnished apartment market making the 2008 Furnished Apartment Market Report all the more valuable. This report, the 4th in our series, details the market conditions in the 2nd half of 2008 as well as details for the full year.

New York Furnished Apartment Market Report 2nd half and full year 2008

The report looks at key points in the market in 2008 versus results from 2006 and 2007. Furthermore, the report makes predictions about 2009. The following are some key trends seen throughout the report:

•    A strong 1st half but a much weaker 2nd half for all of the segments of the New York market
•    Prices stabilizing with lower rates of increase in average rental rates and signs that prices may decline in 2009
•    A weak outlook for 2009 with the entire world in a deep recession

To see all apartment listings throughout New York City visit : The New York Vacation Rental search, The New York Furnished Rentals search and The New York Apartment Share search.

This report as well as all of the previous market reports for New York can be found at the New York Furnished Apartment Market Report webpage. Look back to this site in July for the 1st half 2009 market report to see if markets have begun to rebound or if conditions still are weakening.

The report is produced to help you know more about the New York furnished apartment market. If you have any questions, suggestions or recommendations please comment below or e-mail us at marketreport@nyhabtiat.com.
If you are looking for a furnished apartment in New York feel free to contact our team. They can help you to find the perfect accommodation to meet the needs of any trip to New York.

Previous market report blog articles:
•    New York Furnished Apartment Market Report: 2007 1st half
•    New York Furnished Apartment Market Report: 2007 2nd half and full year
•    New York Furnished Apartment Market Report 2008 1st half

New York Habitat continues it market report series with the release of the 1st half 2008 New York Furnished Apartment market report. Our report covers the following divisions: furnished rentals, vacation rentals and roommate share apartments. We continue to be proud to be able to offer you details about the current market conditions related to our business. To read this report visit: New York Furnished Apartment Market Report site.

In the 2008 1st half market report we compare date from the 1st half of 2006, 2007 and 2008.

New York Habitat 1st half 2008 Furnished Apartment Report

Trends are explored and predictions are made for the 2nd half of 2008 and the into 2009. The following trends are noted in the report:
•    Strength in the vacation rental and roommate share markets
•    Continued growth in Brooklyn, Uptown, Manhattan and Queens
•    Future uncertainty with the world economy suffering from the credit crisis

To see all apartment listings throughout New York City visit : The New York Vacation Rental search, The New York Furnished Rentals Search and The New York roommate share search.

To find this report and previous reports visit the New York Furnished Apartment Market Report webpage. We will periodically update this page with the latest reports for the New York City market. Check back in the 1st quarter of 2009 for the full year 2008 report.

We continue to integrate your latest suggestions into the report. If you have any questions, comments or suggestions feel free to e-mail us at marketreport@nyhabitat.com. We strive to provide the most up to date and useful information.

Our team of real estate professionals is here to serve you and we hope that this report helps you to make informed decisions about your real estate transitions in New York. They would be happy to help you find the perfect apartment rental in New York or give you advise about an apartment that you would like to list with New York Habitat.

Previous market report blog articles:
•    New York Furnished Apartment Market Report: 2007 1st half
•    New York Furnished Apartment Market Report: 2007 2nd half and full year

When in 1604 the Dutch sent Henry Hudson to America to find the Northwest Passage, he found Native Americans who lived on the Island that is now called ‘Manhattan’. Twenty years later, the Dutch bought the land they found from the Indians for a few US Dollars. More and more Dutch arrived in Manhattan in the coming years and the Island was soon to be called: ‘New Amsterdam’.

New York Accommodation 1-bedroom Tribeca (NY-12061)

After the Duke of York took ‘New Netherlands’ from the Dutch in 1664, Manhattan got named ‘New York’ and its name has never changed.

Now, almost 350 years later, Dutch history is still present in Manhattan. Great examples of this are the now called ‘Hudson River’, named after Henry Hudson, The street ‘Amsterdam Avenue’: One of the longest streets in Manhattan, and the famous Brownstone houses that are mainly located in Harlem, the Upper East Side, Upper West Side and a few in the West Village.

Now, a new Dutch landmark will be introduced to New York’s Manhattan:Van Berkel’s ‘Five Franklin Place’: A 55-residence condominium,  being built on the outskirts of Tribeca. The prices of these residences, ranging from $2 to $16 million, will be determined by the type (2 or 3-bedroom residences, lofts and penthouses), the size (1,200 to 3,400 square feet) and  features, such as a rotating bedroom walls that can create a whole new dimension to the space.

Even though the building is going to be extremely modern (eg. “Invisible” door frames and in Corian-sculpted kitchens), the Dutch architect (Van Berkel) says they ‘picked up the strong horizontal cornices and decorative details of Tribeca’s architecture, re-formed them and transported them onto [their] building in a very contemporary way that makes them truly functional’.

New York Apartment in the Upper East Side studio (NY-11910)

Again, New York City is undergoinging a change. A change for improvement, we think at New York Habitat. More accommodations will be available for rent in the future and who doesn’t want to spend a few days in such a luxurious home?

Perhaps in the future, New York Habitat will also rent accommodations in this building. For now, we have some available apartments of other Dutch influence that might interest you include a Harlem 2 bedroom townhouse apartment (ny-12256) or this studio in the Upper East Side (NY-11910).

But if you rather stay in a luxurious apartment, more like van Berkel’s ‘Five Franklin Place’, we can recommend this One bedroom apartment in Tribeca (NY-12061) for a more modern option.

Being a real estate agency, we are always concerned with what is going on in the market today. High-rises that are being built, the ‘images’ of the different neighborhoods that are changing…even logistical changes in subways and roads play an important role in our ability to find the right apartment for you!

Street of Midtown West

Recently, a new plan to rezone part of New York City’s west side has been interrupted: a big thing for many New Yorkers.

Mayor Bloomberg once called it “the single most important economic project that this city has undertaken in decades”, and it was created, mainly to attract the 2012 Olympics to New York City. Bloomberg’s ambitions to redevelop West Side Manhattan, transforming warehouses, factories, parking lots and railroad tracks between Penn Station and the Hudson River seem to be in danger, even more now the economy is shaking.

The New York Times recently posted an article  on their website stating that the redevelopment problems of West Side Manhattan were caused by logistical problems, the economical ‘dip’ and, according to critics, “flaws” in the design of the Redevelopment Plans.

Is this a period of concern or is it an opportunity to think about this city’s future?

It can be disappointing for many parties involved, including apartment owners and renters, when redevelopment plans do not work out the way they were planned. The good thing about an economic decline or slowdown, however, is that more time will have to be spent on rethinking strategy, which will hopefully result in better plans for the future.

Robert D. Yaro, the President of the Regional Plan Association, acknowledges that it is unaffordable to implement everything that was planned. It is now time to make some serious choices. The question is: What will be changed and how will it affect this city’s image? Will it affect the number and type of accommodations in this neighborhood?

New York apartment: studio in Clinton (NY-2351)

For now, West Side New York will not change that much. First, it is time to consider this city’s budget and then we will just have to wait and see how this part of New York will be changed. Tell us what you think, because and we are happy to read your comments on this issue.

In the meantime, wouldn’t it be nice to spend your holiday in the West Side before all the changes occur. Take a look at this Studio apartment in Clinton - Midtown West (NY-2351) near where these projects have been proposed . Another great apartment in the area is this 1 Bedroom apartment Rental in East Village, Lower East Side (NY-12382).

Famous for its cultural institutions, such as the Studio Museum and the Apollo Theater, its shopping district and for its multicultural community, 125th street in Harlem is going to be rezoned if it is up to the New York City Department of City Planning. New York Habitat is keen to share with you what is happening in the neighborhood so you can find the perfect apartment.

Harlem, Manhattan

To support the ongoing renewal of this main street in Harlem, 24 Blocks along the 125th Street are going to change, with the two of the main goals to strengthen the continuity and maintain the unique character of this street.

At this moment, the neighborhood consists of many townhouses with few highrises in the area. The plans keep the townhouses intact however, the plan will change the character and the street scene of the neighborhood drastically and has already caused a lot of commotion and discussion among current residents.

Plans are to increase the number of people (residents and businessmen) in certain areas, residential use will be more strongly encouraged, and visitors and nightlife in this area will be encouraged to grow. Highrises will be constructed and about 1.8 million square feet of new commercial retail space will be developed. As a consequence, real estate values will likely increase, possibly causing some small businesses to disappear because they can no longer afford the higher rents.

New Yrok Vacation Rental: Studio rental in Harlem, Uptown (NY-7607)

Despite this fact, an increased number of businesses in the area is desired, preferably with a mix of businesses from different industries (including art and entertainment). Rezoning 125th street should create career opportunities for residents of Harlem as well.

At New York Habitat, we believe that change – a lot of times – is a good thing. The fact that New York City is always changing causes a lot of mixed feelings, but makes it a great and exciting city to live in! As long as improvement and development are key objectives, change should be present anywhere, anytime.

So, what if you want to live in this great changing city? You can check out our apartments in Manhattan. For example check out this beautiful 2 Bedroom unfurnished apartment rental in Harlem, Uptown (NY-12481) or this Garden Studio apartment in Harlem, near 125th street NY-7607 with an on site exercise room.

A more detailed description of the rezoning project of 125th street can be found on the website of New York City’s Harlem Redevelopment project.

We would like to know what your feelings are about the rezoning plan of 125th street. Give us your opinions and write a comment in the Blog below!

New York Habitat continues it market report series with the release of the 2nd half and full year market report for 2007 New York Apartments. Our report covers the following divisions: furnished rentals, vacation rentals and roommate share apartments. We are excited to offer you an opportunity to see more information about our company and look forward to hearing your reaction to the report. To read this report: New York Furnished Apartment Market Report.

In this report we look at data and analysis for the results of the 2nd half of 2007, compare that to the 1st half of 2007 and provide the full year results. Some of the graphs in the report include:

• New York Furnished Apartment Market Reports

  Length of stay averages

• Average, median and mode prices by apartment type
• What types of apartments were chosen
• Neighborhoods selected
• And much, much, more

The company’s founder Marie-Reine Jézéquel comments on the 2007 market by saying, “2007 has been an interesting year, laws regarding short-term rentals in New York City continue to toughen and our legal team has worked to ensure that all of our new apartments meet the necessary requirements.” She goes on to say that, “For 2008 we will continue our push to offer the best alternative accommodation options in New York City.”

Visit our website New York Apartment search to view all apartment listings in New York City including Manhattan, Brooklyn and Queens.

To find this report and previous reports visit the New York Furnished Apartment Market Report webpage. We will periodically update this page with the latest reports for the New York City market. Check back in the summer of 2008 for the 1st half 2008 report.

Our market report has been designed with you in mind; owners, renters, real estate and travel professionals should find this Furnished Rental Apartment Market Report to provide interesting and informative information about New York Habitat’s niche within the New York City Market. Because we have tried to design this report to benefit the readers we ask that you submit any comments or suggestions either by posting a comment on this blog or e-mailing marketreport@nyhabitat.com

We will continue to build this report and expect to be able to include data on our new unfurnished apartment rental department in the future as that segment continues to grow for the company.

We hope that you enjoy reading this report and New York Habitat’s entire team of real estate professionals looks forward to sharing more information about our segment of the market.

Previous market report blog:

• New York Furnished Apartment Market Report: 2007 1st half