NEW YORK--(EON: Enhanced Online News)--TOWN Residential is proud to announce the launch of The TOWN Rental Report, a monthly update which breaks down Manhattan rental data based on apartment size in relation to 12-16 micro-neighborhoods, on a rotating basis, subject to data reliability. TOWN’s goal is to demonstrate current rental asking prices so renters know what to expect in today’s housing market.
“In Manhattan there are interesting relationships between what is going on in the sales market and the rental market”
In terms of macro-city trends, the report covers market-wide rental prices, as well as the asking rents for doorman and non-doorman apartments. TOWN’s hope is to display the information readers will find most useful during their search for the perfect home. It is also to inform industry insiders, developers and investors.
“In Manhattan there are interesting relationships between what is going on in the sales market and the rental market,” said Damien Parker, TOWN’s Chief Statistician and one of the authors of TOWN’s well-received quarterly Aggregate Report. “We are happy to begin analyzing New York City pricing trends on a hyper-local level.”
The TOWN Rental Report reveals that month over month, there were mild percentage increases in rental prices pertaining to all apartment sizes. In general, doorman apartments commanded greater than 25% pricing premiums over non-doorman apartments. Among the largest sized apartments securing the highest prices downtown, those in Battery Park/Financial District were among the most expensive, as compared to the apartments in Soho/Tribeca. Uptown, contrary to previous trends, The Upper West Side drew higher prices than the Upper East Side.
“We are committed to providing fully comprehensive and transparent data and information that customers, clients, consumers and industry experts can rely on,” said Andrew Heiberger, Founder and CEO of TOWN.
To view The TOWN Rental Report, click here.
ABOUT TOWN RESIDENTIAL:
Launched by Founder and CEO Andrew Heiberger in 2010, TOWN is a top-ranked fully integrated Manhattan real estate services firm specializing in luxury residential sales, rentals, and the marketing of new development sales and rentals. TOWN Residential, LLC is a partnership of Buttonwood Residential Brokerage, LLC and Thor Equities, LLC, a leading real estate development and investment firm. An integral part of the New York real estate landscape, TOWN has a team that exceeds 500 licensed Representatives and staff in nine neighborhood locations: TOWN Greenwich Village, at 530 LaGuardia Place; TOWN SoHo, a landmarked corner storefront at 337 West Broadway dating to 1886; TOWN Upper East Side, a corner storefront at 239 East 79th Street and Second Avenue; TOWN West Village, a trophy office at 446 West 14th Street; TOWN Astor Place, a block-front space overlooking historic Astor Place in the Gwathmey Siegel-designed Sculpture for Living at 26 Astor Place; TOWN Fifth Avenue, located in the prestigious Crown Building at 730 Fifth Avenue at 57th Street; TOWN Flatiron, located at 110 Fifth Avenue and 16th Street; TOWN Financial District, located at 88 Greenwich Street; and TOWN Gramercy, located at historic 33 Irving Place. For more information about these offices and TOWN Residential, visit: www.townrealestate.com.