Day: November 27, 2024

New York City retained its title for having the most zip codes with the highest median rent in the United States in 2024, according to a report by the real estate firm RentHop.

For the second consecutive year, the report found that New York City accounts for 39 of the 100 zip codes with the most expensive rent across the country. This includes 30 in Manhattan, eight in Brooklyn and one in Queens.

Two New York City zip codes, both in Manhattan, placed among the top ten most expensive areas to rent. The first, 10007, is comprised mainly of the neighborhood of Tribeca. The report concluded that the median monthly rent is $6,080 for a one-bedroom unit and $9,070 for a two-bedroom unit. Right behind Tribeca, placing second, is the 10282 zip code, comprised primarily of Battery Park City. The median monthly rent for apartments there was $6,000 for one-bedroom units and $8,800 for two-bedroom units. Both zip codes rose one spot from last year, from sixth and seventh to fifth and sixth.

The one Queens zip code to rank among the top 100 in the U.S. was 11109, which is comprised of the neighborhood of Hunters Point in Long Island City. This neighborhood is close to the water and a short distance from Manhattan, making the amenity-rich units highly sought after. The median monthly rent at the Hunters Point waterfront in 2024 was $4,180 for one-bedroom units and $6,157 for two-bedroom units.

Most of the eight Brooklyn zip codes are found in highly sought-after neighborhoods in the northwest portion of the borough. Some of these neighborhoods include Williamsburg (11249), Greenpoint (11222), and Boerum Hill (11217). The high rental prices in this area are due in large part to popular new builds and renovated townhouses with outdoor space.

New York State as a whole accounts for nearly half of the 100 zip codes with the highest median rent in 2024. In addition to the 39 zip codes within New York City, there are also another five within the state, bringing its total up to 44 within the top 100.

Just eight other states accounted for the other 56 zip codes. California finished a distant second behind New York, with 28 zip codes, followed by Florida with 15, Massachusetts with five, Colorado with three, New Jersey with two, and Nevada, Texas, and Connecticut with one each. Despite many of the zip codes being concentrated within a handful of states, the nine states that comprise this year’s list are a step up from the seven seen last year.

An affordable housing lottery has opened for a new 21-story, 294-unit tower blocks away from Fort Greene Park, with apartments starting at $750 a month.

The lottery for the 99 Fleet Place Apartments includes 76 units, all rent stabilized and income restricted, 62 of which could be deemed truly affordable. Those are targeted at households of one to five people earning between $31,372 and $100,620 a year, or 40 and 60% of Area Median Income, according to the listing.

There are 17 studios at $750 and $1,217 a month, 16 one-bedrooms for $761 and $1,261, and 29 two-bedrooms renting for $833 or $1,433 a month. The remaining 14 lottery units are targeted at families earning 100 and 130% AMI, or $79,406 to $218,010 a year, with studios from $2,151 and two-bedrooms from $2,634. The most expensive unit in the lottery is a two-bedroom apartment set aside for households earning 130% AMI that is renting for $4,215 a month.

Between Willoughby Street and Myrtle Avenue, the new building at 99 Fleet Place (formerly 101 Fleet Place) includes a dog park and dog washing station, spa, movie theater, children’s playroom, business center, community center, outdoor and rooftop terraces, covered parking, and electric vehicle charging, according to the listing.

Units in the J Frankl Architects-designed building have dishwashers, high-end kitchen appliances, air conditioning, balconies, and hardwood floors. Renderings show the units have a relatively standard boxy white design, with light finishes and large windows. Tenants cover electricity, which includes an electric stove, heat, and hot water.

The building exterior is white with plenty of windows, separated by beveled and angled panels that create some movement and shadows. Starting on the 15th floor, a stepped series of setbacks creates street-facing terraces for some units.

According to the building permits, the development has a total of 44 parking spaces in the cellar and will dedicate 4,484 square feet to community space. Market-rate apartments started leasing in July, and currently include studios from $3,987 a month, one-bedrooms from $4,128, two-bedrooms from $5,400, and three-bedrooms from $7,928.

The development replaced a single-story brick commercial building, most recently home to Duffield Children’s Center. City records show former owner Fleet Center Inc., with signatory Abraham Leser, sold the property to 101 Fleet Holding LLC and 101 Fleet Realty LLC in 2021 for $42.75 million. Developer Isaac Chetrit was the signatory for the LLCs. The single-story building was razed in 2023.

This pocket of Fort Greene and nearby Downtown Brooklyn has seen drastic change over the past decade as low-slung commercial buildings and houses have been replaced by residential towers.

The development includes the affordable units under the city’s Mandatory Inclusionary Housing program because the site was spot rezoned as an expansion of Special Downtown Brooklyn district. The project is also expected to get the 421-a tax break, the listing says.

The 99 Fleet Place Apartments lottery closes on Jan. 16. To apply, visit the listing on New York City’s Housing Connect website.

This story first appeared on Brooklyn Paper’s sister site Brownstoner