AS ONE GOES, SO GOES THE OTHER: NEW YORK AND TORONTO REDISCOVER THE RENTAL MARKET

APARTMENTS4 In NEW YORK CITY more than 13,000 new rental units are going on the market this year in Manhattan, Brooklyn and Queens. Manhattan alone will lease 4,900 in 34 buildings; Brooklyn 6,500 across 134 buildings; and Queens 1,800 in 18 buildings.

APARTMENTS2TORONTO is also getting quickly back into the rental market. Among others, Urbancorp is switching its Kingsclub condo complex on King Street West to 3 towers of rentals; the 49-storey Selby on Sherbourne Street has become a rental project with 441 units, and on Isabella Street at Church a new 23-storey rental building is rising.
<PHOTO BELOW – St. James Town, downtown TORONTO’s largest rental neighbourhood, population roughly 15,000>

APARTMENTS1In New York apartment sizes are getting ever smaller and the perks (gyms, bowling alleys, theatres, restaurants, in-house dog runs) are getting bigger. The same is happening here.

APARTMENTS3

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