NEW YORK CITY — Condo hunters, you’re not unsuitable to suppose that New York Metropolis has extra listings in the course of the coronavirus pandemic.
Town’s rental listings in July hit the best degree in 10 years of data compiled by StreetEasy, an area actual property platform.
There have been roughly 67,000 listings citywide that month, of which 37,000 have been in Manhattan, in line with the info.
Examine that to the identical level final yr — town had 44,000 whole listings, with about 23,000 in Manhattan.
The listings knowledge provides to different research displaying metropolis’s rental and actual property markets have been hit laborious by the coronavirus disaster. A lot of it — akin to a record-breaking spike in sublets — seems tied to New Yorkers fleeing town.
Paying lease is a giant concern for hundreds of New Yorkers who misplaced jobs or wages in the course of the coronavirus pandemic. “Cancel lease” has turn into a rallying cry.
However for New Yorkers fortunate sufficient to flee hardship it seems they’ve extra and — barely cheaper — choices for residences.
The standard lease in Manhattan dipped to $three,200 a month in July from $three,500 the yr earlier than, in line with StreetEasy knowledge.