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David Goldsmith

All Powerful Moderator
Staff member
Landlord group admits there are a lot more vacancies than the official count.
What you won't hear much about is how much NYC Real Estate is being warehoused.
Manhattan by far dominated the neighborhoods with the most vacant units, too. The top 13 neighborhoods in terms of empty apartments were all in the borough, data shows.

From the most recent market reports published (which are mostly based on listings data) it would appear that the concensus on vacancies is around 4%. However landlord groups are crying that the vacancy rate is well over 5% so Rent Stabilization should be abandoned. As a very, very rough cut that would seem to indicate that somewhere over 1% of units are being held off the market vacant on purpose. Again, as a rough number citywide that would be 20,000 units.
 

Noah Rosenblatt

Talking Manhattan on UrbanDigs.com
Staff member
From the most recent market reports published (which are mostly based on listings data) it would appear that the concensus on vacancies is around 4%. However landlord groups are crying that the vacancy rate is well over 5% so Rent Stabilization should be abandoned. As a very, very rough cut that would seem to indicate that somewhere over 1% of units are being held off the market vacant on purpose. Again, as a rough number citywide that would be 20,000 units.
I would think its even higher than that? I recall talking to my friend who runs a small agency, 70+ agents, good rental book mostly in east village, smaller lamdlords, and he says vacancy rates are always well under reported at all times
 
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