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Features, real estate trends, Transportation

Williamsburg, where the L train shutdown will soon take effect, via Wiki Commons

In a city with fewer car owners than nearly any other location in North America, it should come as no surprise that subway access is a key factor for most New Yorkers when they go on the housing market. In fact, many New Yorkers won’t even consider renting or buying if the address is more than a 10-minute walk from the nearest subway. This explains why some neighborhoods, including Greenpoint, which has a subway but not one that leads to Manhattan, and Alphabet City, which doesn’t have a subway at all, have long reported lower real estate values and rental prices that their nearest neighbors. However, there are growing signs that subway access may no longer matter as much as it once did.

While subway access remains important, it is increasingly no longer a deal breaker for developers or prospective tenants. In today’s real estate market, a growing number of developers are pouring money into developments located off the subway line, and many tenants don’t seem to mind. This may also explain why not all developers with projects located along the L line are worried about the pending shutdown, which is now slated to begin in April 2019.

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Apartment Deals, Brooklyn, Manhattan, Queens, Rentals

FREE RENT: A roundup of NYC’s latest rental concessions

By Ondel Hylton, Fri, February 3, 2017

rental concessions
  • Co-Living Rental ‘Common Baltic‘ Makes its Debut, Offers Leases with One Month of Free Rent [link]
  • An Astounding Four Months of Free Rent with Two-Year Leases at Brooklyn Rental, The Williams [link]
  • Live in Downtown Art Deco High Rise with Two Months of Free Rent; Studios Starting from $2,775 [link]
  • Hoboken Rental, The Rivington, Offers New Renters Up to Two Months of Free Rent [link]
  • 976 Fulton Street in Clinton Hill Debuts, Offers Renters One Month Free [link]
  • Two Months of Free Rent at Park West Village, Only One Block from Central Park [link]
  • Park Towers South on Columbus Circle Offering One Month of Free Rent or One Month OP [link]
  • Sutton Place High-Rise Re-Introduced as Oriana, Sets March 2017 Leasing Launch with Two Months Free [link]
  • Grand Opening of Five-Story Rental Building on Newel Street in Greenpoint [link]
  • Select Units at 21 Chelsea Offer One Month Free + $500 Security Deposits [link]
  • Free Rent at 40-Story Waterfront Residence in Williamsburg; Studios Starting From $2,829/Month [link]
  • 70 Pine Offering One Month Free + One Month Owner Paid Commission; Studios to Three-Bedrooms + Two Full Floors of Amenities [link]
  • 21 West End Avenue Now Leasing with Two or Three Months Free on All Listings; Studios from $2,950/Month [link]
  • Leasing Launches at Newly Constructed Astoria Rental, The Academy [link]

See full list of rental concessions and special offers here >>

Images (L to R): Oriana, 21 West End Avenue, 21 West Street and The Academy.

 

 

Apartment Deals, Friday 5

Every Friday 6sqft is rounding up five of the best rental deals showcased on CityRealty.com’s newly launched no-fee rentals page, a space where house hunters can find the best concessions being offered by landlords across the city.

As we sizzle in this uncomfortable pocket of August air, many of us yearn for a picturesque beach or pool-side locale to cool off, but when a swim in the East River starts to look inviting, you know things are dire. Not to worry; for those looking to stay close to home, these premier rental buildings are outfitted with resident-only swimming pools accompanied by sun decks, resort-style amenities, and killer views. And with months of free rent embedded into leases, and thousands of newly available apartments on the market, this season could be your best chance to snag a home in one of these coveted buildings.

See all the deal this way

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