Manhattan median rent hits 2011 levels, $1 billion for affordable housing restored, & more

By Jennifer White Karp | October 23, 2020 - 10:30AM

Manhattan median rent dropped to $2,990 in the third quarter, the lowest rent in nine years, as per StreetEasy (press release)

Mayor Bill de Blasio reversed his decision to cut $1 billion from the city’s affordable housing budget (The Real Deal)

Nearly 60 percent of U.S. renters used all or some of their stimulus check to help pay rent during the lockdown, according to Entrata, a property management software firm (press release)

After plans were announced to rezone Soho, reservation activists fear that other historic Manhattan neighborhoods will be upzoned (press release)

NYC joined Seattle and Portland, Oregon, in a lawsuit against the Trump administration to fight being designated "anarchist jurisdictions” and risk of losing federal funds (Gothamist)

Here’s what New Yorkers are buying for their apartments to prepare for a second Covid wave (New York Post)

Jennifer White Karp

Managing Editor

Jennifer steers Brick Underground’s editorial coverage of New York City residential real estate and writes articles on market trends and strategies for buyers, sellers, and renters. Jennifer’s 15-year career in New York City real estate journalism includes stints as a writer and editor at The Real Deal and its spinoff publication, Luxury Listings NYC.

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