Posts Tagged 'NYC Real Estate News'

Urban Digs Responds to NY Times Article on Luxury Rentals

I’ve always loved reading the posts over at Urban Digs. They are interesting, current and it makes me feel smart when I understand what they’re talking about–economics, mostly. So I was excited to read Christine Toes’ analysis of last weekend’s NY Times article on luxury rental buildings offering incentives to renters (which I myself posted about). Toes writes from the perspective of brokers who are also being offered incentives to fill luxury rental apartments with tenants: owners are paying commissions, offering bonuses, giving out gift cards to brokers who find them tenants. Ultimately, Toes claims that the best thing for landlords to do in what many are now acknowledging to be a slow and softening rental market is to lower rents, or at least stop raising them. 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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