This apartment layout is wildly in demand in New York — and nowhere to be found.
New York City families are scrambling to get their hands on three-bedroom rentals,ღ but all the remotely affordable ones have seemingly vanished from the market in recent years, according to recent reporting .
“A three-bedroom is super rare, super rare,” South and Central Brooklyn-focuse൲d Corcoran agent Lisa James told the publication.
Versions of the floorplan that actually offer three bedrooms worth of space (and are not just stingily subdivided former one- or two-bedrooms) have long been needles in the NYC real estate haystack. But a confluence of recent trends have made them even m💟ore difficult to pin down and much pricier.
For starters, the limited supply of homes in the are now competitively priced and frequently the subject of bidding wars, which puts them out of reach for many growing families. Those would-be residents then choose to remain in the city, whღich creates a chain reaction of sorts. Unable to siz🍰e up to a three-bedroom, families in two-bedrooms stay put, which in turn prevents new families in one-bedrooms from taking over their leases, associate Douglas Elliman broker Noble Black told Curbed.
“All those꧟ areas of the housin𒁏g market trickle into each other,” Black said. “It’s a sticking point.”
Further contributing to the shortage is the fact that it’s much cheaper for affordable housing developers to , so many of the more economical rentals now available are studios, one-bedrooms and, less frequently, two-bedrooms — but hardly ever threes.
And families looking to rent the limited quan꧂tity of unoccupied three-bedrooms that do exist have to compete with single people splitting the rent between thr🔜ee separate incomes.
Combined, this results in three-bedrooms going for an eye-watering $25,000 a month, according to one recent press release viewed by Curbed, and situations like Nat Ser🍃rano’s. Unable to find a decent three-bedroom, the app developer has been sharing a bed with his wife and three young kids in their Uღpper West Side one-bedroom for three years.
“We can pay up to $5,000 a mo🍎nth, 🍰but there’s nothing,” he told Curbed. “It’s impossible.”