A new monthly report shows how much prices are rising for rent in Manhattan, particularly in neighborhoods that offer doormen as an amenity.
Prices on rentals in Manhattan have increased by 1.71% in over one month, the cost of a unit rising from $4,069.24 to $4,138.24. Overall, the average rental price in Manhattan in October 2021 is up to 16.81% from this time last year.
According to the MNS report, the deal breakers are also the units with a doorman. If the increase in nondoorman studio apartments is 0.60%, studios in buildings with a doorman rose by 4.06%. The one-bedroom difference is 0.52% between non-doorman and doorman units, while two-bedroom units with a doorman have actually decreased by 0.49%.
Year over year prices for non-doorman studios have been increasing by 8.15% meanwhile same sized studios with a doorman are up by 21.05%. Same with one-bedroom and two-bedroom apartments. One-bedroom without a doorman went up by 11.15% and in apartment buildings with a doorman by 19.38%. Two-bedrooms are up to 14.62% and a doorman two bedrooms rose by 16.52%.
Studio apartments in Chelsea (non-Doorman), East Village (Doorman), Financial District (non-Doorman), Murray Hill (Doorman), and the Upper East Side (Doorman) have shown to drop in their prices. Decrease in prices for one-bedroom apartments with a doorman are trend to be in Chelsea, Gramercy also non-Doorman, Lower East, Murray Hill, SoHo, and Tribeca in non-doorman buildings. And two-bedroom apartments lowered in price at Chelsea (Doorman), East Village (Doorman), Gramercy (Doorman), Greenwich Village (Doorman), Harlem (non Doorman), Midtown East (Doorman), Tribeca (Doorman and non-doorman) and Upper West Side (Doorman and non-doorman).
On the other side of the coin the most increased trend was in Doorman studio units in SoHo which went up from $4,049 to $5,000 in October 2021. Doorman one-bedrooms in East Village are up 11.6% and non-doorman one-bedroom apartments in Chelsea which went up from $3,222 to $3,590 in October 2021.
For a full report, visit mns.com.
