New Yorkers Are Listing Their Homes for Both Sale and Rent
Rent or buy? It’s a common debate among people shopping for a home in New York City.
(Bloomberg) -- Rent or buy? It’s a common debate among people shopping for a home in New York City. And many owners trying to find takers for their properties are appealing to both sides of it.
The number of homes simultaneously listed for sale and for rent in New York jumped 51 percent this year through Sept. 1 -- to 1,087 -- as owners try to get the best price at a time when both markets are weakening, according to data compiled by StreetEasy.
They’re not exactly offering bargains. Owners of the simultaneously listed homes are seeking to sell them for a median of $1.395 million, or 24 percent higher than a year earlier for similar properties, the firm said. The owners are seeking a median monthly rent of $4,800 for those same properties, a 14 percent increase.
“People are still very ambitious and they have an idea of a price they want to get,” said Grant Long, senior economist at StreetEasy. “They think ‘My apartment is perfect for that perfect person out there, and I’m going to find them, whether on the sales market or on the rental market.’”
The top 25 buildings with simultaneous listings are all in Manhattan. The W Downtown Hotel Residences had the most, with 22. In second place was 88 Greenwich St., with 10. The Sheffield, near Columbus Circle, was third with seven simultaneous listings.
To contact the reporter on this story: Oshrat Carmiel in New York at ocarmiel1@bloomberg.net
To contact the editors responsible for this story: Debarati Roy at droy5@bloomberg.net, Christine Maurus
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