First Time Renters Leaving Uptown in Favor of the Financial District

This isn’t news to me! While the Upper East Side has been a traditional favorite of many first-time renters, including recent college and professional school graduates about to start jobs at law firms, PR companies and investment banks; now the Financial District and Battery Park City are luring these same renters. Why and how? Primarily, it’s incentives such as no brokers fees, on-site gyms, pools and roof decks, doormen and flexible large units that can be converted from 1.5 bedrooms into 2 bedrooms. Additionally, the social life of young professional new york has shifted downtown, to Chelsea, the Village and the LES and people want to be closer to where they work and play and consequently the Upper East Side is the neighborhood with the highest vacancy rate in the city right now. To me, that says bargain hunters should consider setting their sights on a gorgeous townhouse one-bed a few blocks from Central Park which now may be within their reach! Read the full article here.


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Michelle Erfer is a licensed Real Estate Salesperson in New York City.
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