It’s true! There are lots of new rental buildings coming on the market (mostly at the high end) and the rental season was a bit of a fizzle for landlords. As a result, rents have dropped a bit and landlords are more negotiable than at any time in many years.
Important to keep in mind: RDNY.com has the largest inventory of No Fee apartment rentals in its history (Almost 6,000 rental apartments) AND we are passing on all landlord rental incentives directly to you on every listing. Search our No Broker Fee apartments at RDNY.com.
Surveys issued by Douglas Elliman and Citi Habitats found that the average rents for all types of apartments in the borough last month when compared to August 2015.
“The simple fact is the rental market was overheated and due for a correction — nothing extreme, but enough to get landlords and would-be tenants back on the same page”.