He financial climate has buyers skittish and
banks reluctant to lend, and that’s largely why the rental market has come alive this year. Vacancies are down to less than 1 percent throughout the city. Within that market, there’s a noticeably intense niche, and one that’s growing: furnished rentals. Bond New York’s Doreen Fuentes, who has specialized in turnkey rentals for six years, says out of 50 deals she’s done in the past few months, 15 of them have been furnishedfar more than usual. Brown Harris Stevens’s Lynda Wiggins says weekly calls about high-end furnished rentals have doubled in the past six months.
What’s more, their clients aren’t looking for a generic midtown crash pad. The new renters are insisting on residential neighborhoods like the Upper West Side, the Upper East Side, and the Village. They’re not content with space that looks like a hotel room. They’re specifically saying they want someone’s home, says Wigginsand, she and her colleagues add, they’re willing to pay for the privilege. In general, anything that rents for less than a year and is furnished will come at a premiumat least double, says Jeff Schleider, managing director of Miron Properties. A Murray Hill one-bedroom with a roof deck, for instance, is asking $5,000 a month; unfurnished counterparts are more like $3,000.
In an emailed statement, David Falcone, a spokesman for Senate President Therese Murray, said, “President Murray looks forward to seeing the bill.