Residents are beginning to move into Extell Development‘s new luxury rental building at 510 East 14th Street in the East Village and timing couldn’t be worse in theory. In February, an oversupply of high-end units brought apartments with monthly rents at $10,000 or more down by about 11 percent to an average rent of $12,925. Additionally, a Douglas Elliman report found that 36.2 percent of buildings offered tenants concessions to sweeten the deal, as The […]
source https://therealdeal.com/2018/04/08/why-extells-not-concerned-for-its-new-building-despite-a-flooded-luxury-market/
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