Photo by Rachel Martin on Unsplash

Moving during the winter in New York City once meant lower rents and more incentives. But according to a new report from Douglas Elliman and Miller Samuel, rents in the month of January hit, or nearly hit, record highs in Manhattan, Brooklyn, and Queens.

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Photo courtesy of CityRealty

The number of evictions in New York City has increased every month from January to June, according to new city data. The state’s eviction moratorium expired on January 15 after officials extended it several times after it first took effect in March 2020, at the start of the pandemic. The data comes as more bad news for renters, who are facing record-high rents after prices fell early on in the pandemic.

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Photo by Dimitry Anikin on Unsplash

According to the May 2022 Elliman Report for Manhattan, prepared by appraiser Miller Samuel Inc. for brokerage Douglas Elliman, median rent arrived at the $4,000/month mark for the first time ever, with average rent hitting just under $5,000/month. May 2021 median and average monthly rents were $3,195 and $4,078, a 25.2 percent and 22 percent jump, respectively.

Rising rents, shrinking inventory, this way

• How many jeans will Diesel need to sell to make rent at 101 Bedford? Greenpoint’s Andy Smith does a quick and dirty calculation. [Tremr]
• New York has only the 6th highest rents in the country. Apparently we lag behind behind San Francisco, San Jose, San Diego, Washington DC and Boston. Surprised? [Brokelyn]
• The 10 biggest real estate projects filed in July. [TRD]
• Urban Compass is serious about building an empire, and they aren’t wasting any time. The upstart just snagged the Hustis/Jovanovic team over at Corcoran Group. [Crain’s]
• Home sales in NYC’s suburbs are on the decline. Buyers have become put off the steadily increasing prices. [TRD]

Diesel jeans (left); Bedford 101 (right)