Rents are actually falling in these NYC neighborhoods

New York City’s notoriously high rents have actually gotten a bit cheaper in certain neighborhoods.That’s according to a new study from the local listings portal StreetEasy, which found that house hunters searching for a new lease to sign may want to look at Prospect Lefferts Gardens in Brooklyn.There, the median asking rent in October hit $2,850, marking a 5% year-over-year decrease — the largest annual decline tallied city-wide in the report.

That exact monthly price, for instance, can now rent a one-bedroom garden-level residence at 297 Lincoln Rd.with a private backyard and a large eat-in kitchen, according to a StreetEasy search.Farther south in Brooklyn, Bay Ridge emerged in second place for the sharpest annual decline in median asking rent.

That neighborhood saw a 4.2% year-over-year decrease in the figure, lowering to $2,300 last month.Another search through the site’s listings shows that sum can get a 720-square-foot residence at 190 72nd St.

co-op being rented out by its owners.The unit has one bedroom, a kitchen with stainless steel appliances and herringbone hardwood floors.Meanwhile, in Manhattan, 9-to-5 workers looking at ongoing return-to-office mandates can find a deal if they’re looking for breezy commutes to their desks.

They’d need some deeper pockets, however.Midtown ranked third in the sharpest city-wide declines, with a 3.6% annual slip in October to a still-high $4,895.

For those now searching for a new home in Midtown, there’s an alcove studio listed for $4,895 per month at 242 W.53rd St., which looks out to wide skyline views through floor-to-ceiling windows.

Also in Manhattan, the Upper East Side saw declines in median asking rent.There, it lowered 2.3% to $3,908 per month.Farther uptown, Hamilton Heights — a northern stretch of Harlem that’s known for its charming Sugar Hill historic district, plus restaurant and bar options along Broadway — had a median ask of $2,750, down 1.8% from last October.

At 528 W.152nd...

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Publisher: New York Post

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