NEW YORK (PIX11) — New Yorkers looking for a deal on rent should look toward Greenpoint, according to StreetEasy.
About one in three rental listings in the Brooklyn neighborhood cut asking rents in December, according to StreetEasy analysis shared in late January. A number of Manhattan neighborhoods are also choice locations for those looking for discounts. Deals are being offered in Chelsea, the East Village, Nolita and the Flatiron District.
Queens is the worst borough when it comes to concessions from landlords, StreetEasy found in its data review. In December, just 13.9% of Queens rental listings advertised concessions on StreetEast. In Manhattan, where concessions were most common, nearly 16% of listings offered at least a month of free rent.
Citywide, 15% of rental listings offered at least a month of free rent in December of 2022, according to StreetEasy. It’s a drastic change from last summer when competition for apartments was fierce and just 6.9% of listings offered concessions for renters.
The change comes amid rising inventory in the city, according to StreetEasy. The listings site anticipates asking rents will decline this year as the market rebalances. Renters should have an easier time finding a place to live this spring and summer than they did in the same period in 2022.