This suicide-inducing little chart comes courtesy of Citi Habitats, who helpfully sent along a press release bearing this suicide-inducing little headline: Manhattan’s Vacancy Rate Falls to New Low. The current overall vacancy rate, 0.43%, represents a 0.24% drop from April's 0.67% level. To fill out this item, we present this suicide-inducing quote from the press release:
“Our last vacancy analysis was an indication of just how tight and competitive the rental market in Manhattan has become,” commented Gary Malin, COO of Citi Habitats. “Vacancy rates have been on a steady decline for some time now as evidenced by this new data. We anticipate that market will become even tighter over the next few months as we enter the height of the summer season.”Also: Murray Hill at 0.21%? Seriously, people, WTF?
· Rental Market Reports [Citi Habitats] UPDATE: An email from a trusted Curbed source: "Note that this is only a survey of the city's 'most popular' buildings, such as the Windsor Court in Murray Hill, the Caroline or the Capitol in Chelsea, the Dormandy Court, etc. [Like these?—ed] Mostly doorman buildings, etc. So these statistics are somewhat deceptive, but they do reflect one thing: there are very few 'nice' apartments out there, so start prioritizing -- lose the doorman, the elevator, or the nabe and you'll have a much better shot." More debate in the comments.