October 12, 2022  SEONews

High Manhattan rents leading to more competition in Queens, Brooklyn – Spectrum News NY1

Real estate agent Jordan Silver knew he had a desirable listing on his hands — a charming pre-war West Village one-bedroom apartment, complete with a courtyard.

“It is the most desirable neighborhood, but we saw lines around the block,” Silver, a real estate agent with Corcoran, said.

What You Need To Know

  • Jordan Silver’s TikTok videos of long lines at an open house in the West Village went viral
  • That apartment went for $1,000 a month more than the initial asking rent after a bidding war
  • According to StreetEasy, rising rents in some of Manhattan’s most desirable neighborhoods are causing more renters to search for places in Queens and Brooklyn
  • In Queens, one of those neighborhoods is Elmhurst — StreetEasy saw a 32% increase in search volume for listings in the area

Silver’s TikTok video of the long lines at an open house went viral — more than 600,000 people viewed it. Not that he needed additional help to fill the vacancy — he received eight applications.

The initial asking…

Read Full Story: https://www.ny1.com/nyc/all-boroughs/housing/2022/10/13/high-manhattan-rents-leading-to-more-competition-in-queens-and-brooklyn

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