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LES Apartment Rents Drop Slightly

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The Real Estate Group NY is out with its monthly rental report (thanks to EV/LES broker Rob Stevenson for the heads up). The firm’s number crunchers believe the city’s real estate market continues to slowly recover. But having said that, rental prices dropped slightly last month as landlords worked to fill empty apartments before the holidays began. On the Lower East Side:

  • Non-doorman 1-bedrooms in November averaged $2294, down almost 3% from October.
  • Doorman 1-bedrooms averaged $2821, up slightly over last month.
  • Non-doorman 2-bedrooms were up a bit, to $3168.
  • Non-doorman studios averaged $1969, down about 6%.

If you’d like to see the full report, it’s available on the Real Estate Group’s web site.

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