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	<title>Observer &#187; We Got Rents! Chelsea&#8217;s Jump Most in December, FiDi&#8217;s Decline</title>
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		<title>Observer &#187; We Got Rents! Chelsea&#8217;s Jump Most in December, FiDi&#8217;s Decline</title>
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		<title>We Got Rents! Chelsea&#8217;s Jump Most in December, FiDi&#8217;s Decline</title>

		<comments>http://observer.com/2007/12/we-got-rents-chelseas-jump-most-in-december-fidis-decline/#comments</comments>
		<pubDate>Tue, 18 Dec 2007 19:12:58 -0400</pubDate>
					<link>http://observer.com/2007/12/we-got-rents-chelseas-jump-most-in-december-fidis-decline/</link>
			<dc:creator>Lysandra Ohrstrom</dc:creator>
				
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		<description><![CDATA[<p><img class="alignleft" src="http://nyoobserver.files.wordpress.com/2011/06/financialdistrict.jpg?w=300&h=169" />Good news for apartment hunters: Manhattan rents have dropped, especially in the financial district.
<p>Granted, the average asking rent for apartments below 100th Street dropped by less than 1 percent in December, according to a new report from the The Real Estate Group's, but that downward trend is expected to continue into the new year. </p>
<p>Average asking rents dropped slightly on the Upper East Side (with the exception of non-doorman studios); Midtown East (save for doorman studios); and the Upper West Side, which now has the &quot;city's best deal&quot; on non-doorman studios at $1,734 per month, said the report. </p>
<p>Doorman-building studios in SoHo commanded the highest average rent at $2,436, and while the neighborhood is still one of the most expensive in the city, apartment rents in all other categories have dropped slightly since November. Meanwhile, rents for non-doorman studios in Grammercy Park dropped to  $2,240, after peaking in November. </p>
<p>Overall, Tribeca and SoHo have the highest rents of any neighborhood below 100th Street. A two-bedroom n a doorman building in Tribeca rents for an averaged $6,971 for December, but it's the only neighborhood in Manhattan where rents in full-service buildings are lower than in non-doorman counterparts. Rental prices in SoHo ranged from $2,875 for a studio and $6,744 for a two-bedroom in full-service buildings.     </p>
<p>One-bedroom rents in Greenwich Village climbed to $4,149 this month, but the average for a two-bedroom dropped to $5,498 in doorman buildings and $3,567 in non-doorman buildings.    </p>
<p>Luxury apartment rents on the Lower East Side continue to rise with the neighborhood's gentrification, but (relatively) affordable non-doorman studios can still be found alongside the city's least expensive full-service two-bedrooms ($4,347). </p>
<p>Rents in Chelsea rose by $161 on average from November to December, the most of any neighborhood in Manhattan. Meanwhile, the Financial District registered the steepest decline in rents, which decreased on average of 5 percent.  </p>
]]></description>
		<content:encoded><![CDATA[<p><img class="alignleft" src="http://nyoobserver.files.wordpress.com/2011/06/financialdistrict.jpg?w=300&h=169" />Good news for apartment hunters: Manhattan rents have dropped, especially in the financial district.
<p>Granted, the average asking rent for apartments below 100th Street dropped by less than 1 percent in December, according to a new report from the The Real Estate Group's, but that downward trend is expected to continue into the new year. </p>
<p>Average asking rents dropped slightly on the Upper East Side (with the exception of non-doorman studios); Midtown East (save for doorman studios); and the Upper West Side, which now has the &quot;city's best deal&quot; on non-doorman studios at $1,734 per month, said the report. </p>
<p>Doorman-building studios in SoHo commanded the highest average rent at $2,436, and while the neighborhood is still one of the most expensive in the city, apartment rents in all other categories have dropped slightly since November. Meanwhile, rents for non-doorman studios in Grammercy Park dropped to  $2,240, after peaking in November. </p>
<p>Overall, Tribeca and SoHo have the highest rents of any neighborhood below 100th Street. A two-bedroom n a doorman building in Tribeca rents for an averaged $6,971 for December, but it's the only neighborhood in Manhattan where rents in full-service buildings are lower than in non-doorman counterparts. Rental prices in SoHo ranged from $2,875 for a studio and $6,744 for a two-bedroom in full-service buildings.     </p>
<p>One-bedroom rents in Greenwich Village climbed to $4,149 this month, but the average for a two-bedroom dropped to $5,498 in doorman buildings and $3,567 in non-doorman buildings.    </p>
<p>Luxury apartment rents on the Lower East Side continue to rise with the neighborhood's gentrification, but (relatively) affordable non-doorman studios can still be found alongside the city's least expensive full-service two-bedrooms ($4,347). </p>
<p>Rents in Chelsea rose by $161 on average from November to December, the most of any neighborhood in Manhattan. Meanwhile, the Financial District registered the steepest decline in rents, which decreased on average of 5 percent.  </p>
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