Best Value for New Apartments in NYC

Looking for a new apartment? Of the three New York City neighborhoods where developers have built the most new apartments, renters get the most for their money per square foot in Downtown Brooklyn, according to data from Apartments.com.

But the monthly rents for new apartments are lower on average in the Long Island City neighborhood of Queens — even though average rent per square foot is higher than in Downtown Brooklyn. That’s because the average one-bedroom apartment is a little smaller in Long Island City.

Meanwhile, the average rents for new apartments in Manhattan West are the highest of the three construction boom neighborhoods, both in absolute terms and per square foot.

Developers have built more than 80,000 apartment in New York City since since 2010, with more than 50,000  currently under construction. Long Island City, Downtown Brooklyn, and Midtown West submarkets have been the busiest for developers — more than a quarter of the apartments built since 2010 are in one of those three neighorhoods.

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