6 ms·

The prices in NYC are just insane!

• sethhochberg 4y ago
  Much like many cities - NYC included - are seeing people leave because they are no longer tied to wherever they had been with remote work, we're also seeing many people moving here specifically because they can work remotely from NYC. Available rental inventory is almost nonexistent right now, vacancy rates are at the floor. Much of our new development is exactly the kind of new amenity building that folks in the high-earning tech remote worker crowd often seek, but its still not managing to keep pace with demand. There's a shortage of inventory for virtually everyone except the billionaire class (not that they occupy much of the market in absolute terms). I've been in NYC about a decade an even in pre-pandemic years that most folks agree were much more stereotypically booming and I can't ever remember a housing market that was so frothy.
• colinmhayes 4y ago
  Apparently 3 beds are cheaper than 1 in new york. 3,695 vs 3,600.
  • mancerayder 4y ago
    That's probably a factor tied to area - dense Manhattan is more luxurious and expensive than Bensonhurst, where a three bedroom is more common and a fraction of the cost. A more meaningful metric would be, by borough, market rate housing. Then Manhattan three bedrooms will be 6,000 and not 3,600. They can easily reach 9 in a doorman building downtown.