Neil, Both Buyer and Seller in New York, NY

Hi, what is the median price per square foot for rentals in the gramercy/flatiron area?

Asked by Neil, New York, NY Wed Nov 20, 2013

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4
Hi Neil,

I have only taken the averages for rentals that closed in November.

For all closed rentals the average is $5.67/ SqFt and this is for an apartment that has about 3.5 rooms, so anywhere from 1BR to 2 BR. I have to agree with Anna that the averages will change depending on what you're looking for, in addition to the variables that Anna listed, the average $/SqFt will also change depending on the services a building offers as these are funneled back to the renter through the landlord, even though the landlord pays for them directly.

Please let me know if you have a specific building in mind, because then you can look within the building what the average $/SqFt is (approximately) because even in a building the average $/SqFT changes depending on the location within the building and for example a view or not and of course on the condition of the apartment. So this average is a very general guideline as two apartments in the same building and even of the same size can have a total different $/SqFt average.

Anoir Redouane
Representative, Licensed Real Estate Salesperson

TOWN
O: 646.561.5348
E: ARedouane@TownRealEstate.com
2 votes Thank Flag Link Wed Nov 20, 2013
Average Rent

Studio: $7/sq/ft/mo.

2 Bed: $2,895 - $9,500 /rent per month ( could not get sq. ft. on 1 & 2 bed
1 vote Thank Flag Link Wed Nov 20, 2013
Keep in mind that square footage costs do vary, and don't account for location, size, and other considerations; therefore, it's really in your best interest to also review closed recently sold/rented similar properties in the immediate area, and their final sales price...
1 vote Thank Flag Link Wed Nov 20, 2013
Rentals range from $50-80/SqFt per year. This is the median range and it really depends on exact location, building type (luxury vs walk up), unit renovations, floor, and renovations. It also depends on whether you are renting in the summer months (higher price) vs the winter months (typically lower prices)
0 votes Thank Flag Link Mon Dec 16, 2013
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