The most expensive zip code in the US for renters according to a recent report by RentCafe is Battery Park City, 10280. The average rent is just over $5657 according to the report. This is down from the previous year’s average of $6,000. 26 of the 50 most expensive zip codes in the US for renters were in Manhattan. Three of the top 12 most expensive zip codes were on Manhattan’s Upper West side.
Soho/TriBeca was the area that experienced the largest increase in rent year over year. 10013’s average rent was up over 10%.
Coverage from 6sqft
The Author- 
Brian Silvestry , a licensed real estate broker, has been selling residential and commercial real estate since 1999. He has sold in every neighborhood from Battery Park City to Washington Heights.
According to a recent report, the residential listings in Soho are experiencing price cuts of approximately 10% and usually are chopped another 5% after that. The market like many neighborhoods in Manhattan is a buyer’s market. Seller’s expectations are coming down but as this is happening in Soho, the sellers do not have to sell so the market is at an impasse.
The below table shows the number of active listings by bedroom count in Soho.
| # Bedrooms |
Active |
Low Price |
High Price |
| 1 |
36 |
$580,000 |
$11,000,000 |
| 2 |
58 |
$630,000 |
$12,250,000 |
| 3 + |
80 |
$1,995,000 |
$40,500,000 |
The Author- Brian Silvestry , a licensed real estate broker, has been selling residential and commercial real estate since 1999. He has sold in every neighborhood from Battery Park City to Washington Heights.
Amid a 27% vacancy rate on Amsterdam avenue on Manhattan’s Upper west side and a 20% vacancy rate in Soho, Mayor Bill DeBlasio is considering a vacancy tax or fine for Manhattan landlords that leave their stores vacant. The idea is in the planning stages without a concrete plan as to how it would work. Retail has been struggling due to the brick and mortar sales declining as internet sales have risen in the last several years.
NYP coverage
The Trump Soho Hotel which was built at a time when the zoning in the area didn’t allow full time residential on the site is currently deciding if it will convert the unsold apartments to hotel rooms. The project allows buyers to use their apartments for 120 days a year and then the hotel rents it out for them the rest of the year. Donald Trump and his organization… Continue reading Trump Soho may convert to Hotel →
News about the NYC real estate residential and commercial markets provided and interpreted by an industry veteran licensed since 1999. Brian Silvestry of BSRG Inc. Licensed real estate broker