Shocking News of New York City Real Estate

Recently in real estate news, real estate in major cities have reached a sudden withdrawal. First the withdrawal hit Australia and then spread to major cities such as Miami and New York City. It has been reported that Manhattan is having the most vacancies in the last 9 years. This is a sign that the post-recession rates on have finally begun to cool down after the bubble burst in 2008. To be exact, in November, statistics were given that showed that the vacancy rate was up 2.87 percent which is 5.6 percent higher than 2006.

What is causing this is the constant increase in rent that has enabled many residents of New York City to stay in New York City. According to Johnathon Miller who is the President of Miller Samuel, rent has been increasing continuously for over 4 years. It is reaching the point where prices cannot become any higher as they are creating so many vacancies.

Though many apartments are increasing in rent, the only type of apartment to avoid this are the luxury apartments. The luxury apartments make up at least the top ten of all rental prices. It was reported that the median for rent of these types of apartments fell by 1.4 percent since the statistics were last checked.

Currently, the best place to find the best and most affordable luxury apartment, is with Town Residential. This is a company that, though only being five years old, has grown tremendously to become one of New York City’s most successful real estate firms. What makes this company so special is the fact that this company emphasizes strong values such as integrity, excellence, and strong leadership. Ever since 2010, Town residential has grown to be one of the most credible real estate firms to look at luxury apartments with.

What makes Town Residential so special is the fact that this real estate firm has the goal of finding the best apartment for each individual. Every single client of Town Residential is treated in a personalized way that lets each client know how much they truly care about finding the perfect apartment. In addition to this, Town Residential can find a client any luxury apartment in any neighborhood. Specific neighborhoods include SoHo, TriBeCa, Chelsea, the Financial District, Union Square, and Upper East Side. The diversity of neighborhoods that Town Residential can work with makes this the best company to work with.

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