The Real Deal - New York Real Estate News

Rental madness: Bidding wars supercharge NYC market

Posted: 17 Feb 2022 04:00 AM PST

What would a tenant pay for a 625-square-foot one-bedroom in Greenpoint, two blocks from McCarren Park? With Covid cases receding again, real estate agent David Kazemi figured $3,500. The apartment at 156 Guernsey Street, a refurbished railroad-style unit with plenty of light and a home office, but no amenities or outdoor space, had rented for $3,000 before the pandemic and $2,600 last year. “The lease was coming up again and I was like, look: The