«Investors continue to look for opportunities on the fringe of some of the more core North
Side neighborhoods due to the relative value and higher appreciation potential they offer,» said Smazal in prepared remarks.
Approximately 20 % of the increase in rental rates was
due to Airbnb listings in midtown and lower Manhattan, including
neighborhoods such as Chelsea, Clinton, and Midtown Business District; Murray Hill, Gramercy, and Stuyvesant Town; Chinatown and Lower East
Side; Battery Park City, Greenwich Village, and Soho.
While residents of some communities in the city have protested attempts to instill affordable or supportive housing in their
neighborhoods, Upper East
Side residents turned up to voice support for the Win project, which is
due to be completed in late 2018.