Since the onset of Coronavirus we are seeing huge vacancies (some have posited that the real/shadow vacancy rate in Manhattan is 20%) and many landlords are offering some combination of 25% off last year's rent and up to 4 months of rent concessions.
At Stuyvesant Town/Peter Cooper Village I've been told there are over 1,000 vacancies, and after Thanksgiving today we are now at what is traditionally the dead season until after the new year. But in the last week it seems like they have both raised their face rents to last year's numbers and decided their "up to 3 months free rent" offer that has been running since August.
Do they know something no one else does? What am I missing here?
At Stuyvesant Town/Peter Cooper Village I've been told there are over 1,000 vacancies, and after Thanksgiving today we are now at what is traditionally the dead season until after the new year. But in the last week it seems like they have both raised their face rents to last year's numbers and decided their "up to 3 months free rent" offer that has been running since August.
Do they know something no one else does? What am I missing here?