{"id":198,"date":"2017-08-23T17:50:40","date_gmt":"2017-08-23T17:50:40","guid":{"rendered":"https:\/\/www.renthop.com\/content-manager\/?post_type=studies&p=6555"},"modified":"2023-08-02T19:30:13","modified_gmt":"2023-08-02T19:30:13","slug":"building-age-and-rents-in-new-york","status":"publish","type":"post","link":"https:\/\/www.renthop.com\/research\/building-age-and-rents-in-new-york\/","title":{"rendered":"Building Ages and Rents in New York"},"content":{"rendered":"

Over the past few years, New York has been experiencing a residential building boom. In 2016 alone, over 23 thousand new dwelling units<\/a> (6,900 in Manhattan) were completed. If you\u2019ve been looking for a new apartment, you\u2019ve probably noticed some of the new high-rises that have popped up around the city. Rife with amenities and modern designs, these newer buildings typically charge a premium (especially for units that have never been occupied). But how much of a premium is it to live in newer building vs an older one? What if the building is very old<\/strong> (pre-war)? We explore building age trends across the city to see how they impact rent. We use data from NYC\u2019s PLUTO<\/a> database along with prevailing market rents (from RentHop [from Q2 2017]).<\/p>\n

We find that:<\/p>\n