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There's already a major building boom going on in NYC at the moment! 11+ super-talls (300m+) and 40+ talls (150m+) are under construction at the moment, and mo
by Androider 8y ago
There's already a major building boom going on in NYC at the moment!
11+ super-talls (300m+) and 40+ talls (150m+) are under construction at the moment, and more than that has been completed in just the last few years. Massive amounts of rental units and co-ops are coming online in UWS (Riverside Center), Hudson Yards in Mid-Town etc [1]. And prices have come noticeably down as a result, you can also get more concessions than ever. I just recently received 3.5 months free on a 14 month contract in a brand new building.
[1] https://ny.curbed.com/maps/nyc-new-development-hudson-yards-wtc-megaprojects https://ny.curbed.com/maps/nyc-new-development-hudson-yards-...
- free652 8y agoI dont think the prices have come down at all, they may have flatten out. Most of the new units are high end, 4k for 1bed?
- Androider 8y agoMedian rent was down ~4% in 2017 [1], some areas like UWS, Hell's Kitchen, LIC are down ~10%. Those are also incidentally the places with the most new construction. The whole Hunter's Point area in LIC has been completely transformed in just a few years from industrial to residental. 3K in Hunter's Point will now get you a new construction with all the bells and whistles and a few free months. https://ny.curbed.com/2018/1/24/16925172/nyc-rent-2017-decrease-2016 https://ny.curbed.com/2018/1/24/16925172/nyc-rent-2017-decre...