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Historic Harlem Townhouse Sells; The Rental Market Is Tight

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HARLEM—The townhouse at 16 West 123rd Street in the Mount Morris Historic District has sold for $2.2 million, a full $200,000 over its ask. A tipster alerts us that the house was shown 24 times over eight days, and received nine offers, eight of which were all cash. The home will be converted into a one- or two-family residence. [CurbedWire inbox; listing]

ALL OVER—The number of people renting is booming across American cities, with majority of people in nine major metropolitan areas—including the obvious ones like New York City, Los Angeles, Boston, and San Francisco—now renting. As is so evident in New York, demand is keeping fierce pressure on supply of rental apartments, and NYU's Furman Center and Capital One have made a really great looking, albeit depressing infographic to explain the shift in the market. Take a peek. [NYU Furman Center]


Wowzers.