The 234 Apartment

Maintenance problems abounded. Mr. Hunt used a pan to collect the rainwater dripping through the ceiling, graduated to a bucket and, when that proved insufficient, a trash can. Last winter, some of his favorite shirts were soaked by rainwater. “It was imperative for my sanity to move,” he said. Photo LONG ISLAND CIT Y Along the waterfront on Center Boulevard, the many rental buildings were new, but not new enough. Credit Sasha Maslov for The New York Times He envisioned his new place as airy and clean, but also warm and inviting. “Telling a real estate agent your vision is not as clear as making a list,” he said. So he made one, including light, views and a rent of around $2,000 a month for a studio or one-bedroom. Using five apps — StreetEasy, Trulia, PadMapper, Naked Apartments and Zumper — he went to work. “I felt frantic about it,” he said. He contacted every agent who seemed to have a suitable listing. “The idea was zero fidelity.” He planned to remain in Greenpoint. But the fe...

Of all the apartment construction we witnessed in the past few years, 10 U.S. neighborhoods stand out for the greatest numbers of apartments built in the post- recession rental boom era . Using Yardi Matrix and Property Shark construction data , RENTCafé tallied up apartment completions that took place between 2010 and 2016 to see which neighborhoods saw the highest volumes of new rentals. Here they are: At the top of the list , Long Island City in Queens, New York City, has built a stunning 12,533 new apartments in 41 apartment buildings since 2010 , by far more than any other neighborhood in the U.S. Like many other New York neighborhoods, LIC slowly gentrified from a former heavily- industrial neighborhood filled with warehouse-type buildings to a highly- desirable residential area gleaming with new residential high -rises and conversions. Just a 15- minute train ride to Midtown Manhattan and much more affordable in terms of housing costs, Long Island City ’s apartment marke...

When Bill de Blasio became mayor of New York City in 2014, he made no secret of his intent to place affordable housing at the center of his term. Not long after his election, he rolled out his Housing New York plan–a 10-year strategy to build or preserve around 200,000 affordable units across the city’s five boroughs. advertisement Affordable, when it comes to housing in New York, is a slippery term. Critics of de Blasio’s plan have pointed out that the majority of the units built or converted under Housing New York remain out of reach of low-income New Yorkers–those earning less than $43,000 per year. And while the plan has succeeded making a nearly 100,000 unit dent in the city’s 550,000 affordable-unit shortfall, the terms of the new unit’s affordability are ephemeral: The majority of the units created and preserved under the mayor’s plan are only regulated temporarily, often for as little as two decades. There is no guarantee that a unit designated as affordable today will remain...

AvalonBay Communities, Inc. (NYSE:AVB) Q2 2017 Earnings Call August 03, 2017 1:00 pm ET Executives Jason Reilley - AvalonBay Communities, Inc. Timothy J. Naughton - AvalonBay Communities, Inc. Sean J. Breslin - AvalonBay Communities, Inc. Matthew H. Birenbaum - AvalonBay Communities, Inc. Kevin P. O'Shea - AvalonBay Communities, Inc. Analysts Nicholas Joseph - Citigroup Global Markets , Inc. Nick Yulico - UBS Securities LLC Richard Allen Hightower - Evercore ISI Juan Sanabria - Bank of America Merrill Lynch Andrew T. Babin - Robert W. Baird & Co., Inc. Austin Wurschmidt - KeyBanc Capital Markets , Inc. Dennis Patrick McGill - Zelman & Associates Wes Golladay - RBC Capital Markets LLC Alexander Goldfarb - Sandler O'Neill & Partners LP Vincent Chao - Deutsche Bank Conor Wagner - Green Street Advisors , LLC Richard Hill - Morgan Stanley & Co. LLC Robert Stevenson - Janney Montgomery Scott LLC Operator Good morning, ladies and gentlemen, and welcome to AvalonBay...