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by nemo44x 1766 days ago
The vacancy rate in Manhattan is around 11% today compared to the more typical 1.5%-2%. Im sure it will come back over time.
2 comments
supernovae 1766 days ago
Curious how much of that rate is because of AirBnB's and VRBOs closing out with no travelers and these units hitting the market vs people moving away...
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iso1210 1766 days ago
9-10% of the 8.8 million would be 800-900k, taking population back to about 2010 levels.
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nemo44x 1766 days ago
Not sure if it’s that many but who knows. Below 34th St is around 17%. Rents are about 20% cheaper than before the pandemic. Here’s an article detailing this:

https://www.google.com/amp/s/www.wsj.com/amp/articles/manhat...

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mattzito 1766 days ago
That’s from back in May - things have changed quite a bit since then:

https://www.google.com/amp/s/www.nytimes.com/2021/06/10/real...

In June they were already back to only 11% down, and it’s been accelerating since then. I doubt it’ll stabilize at pre-pandemic levels for a while, but it’s nowhere near where it was even 6 months ago

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