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NYC Apartments Look Poised for 2021 Rebound

While upper-level apartments are still challenged as their residents are more likely to be working remotely and more supply is being delivered, Class B and C apartments are poised for a recovery.

By Les Shaver | March 16, 2021 at 10:35 AM

After suffering through an exodus of renters and effective rates taking a two-year step back in 2020, New York’s apartment market is poised for a rebound as businesses begin to reopen and rehire.

While upper-level apartments are still challenged as their residents are more likely to be working remotely and more supply is being delivered, Class B and C apartments are poised for a recovery, according to Marcus & Millichap. Those properties are less exposed to new supply and have recorded more positive fundamentals so far through the pandemic.

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