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SelectLeaders Real Estate Job Board – A Pace Not Seen in Years

More than 8,000 rental units are coming on the market across New York City at a pace not seen in years, yet at a time of some weakness in the market. In the process, these new building are redefining what rental housing is, according to this Sunday’s New York Times. Partly responsible for this surge in rental has been developers in Manhattan and Brooklyn “doing well by doing good.” Taking advantage of the 421 Program (that expired in January, 2016), developers receive breaks on their property taxes if they construct an 80-20 building, 80% market rate and 20% below market or “affordable” rents. The famous architected new buildings embrace the theory that young renters, who sometimes live and work under one roof and have all their groceries delivered, might not set foot outside that much. The buildings include 20,000 to 30,000 square feet of amenities: Olympic size pools, a fitness center run by a company that arranges out of building exercises at places like Mount Kilimanjaro, famous NY rooftop restaurants, a bowling alley and movie screening room. The question is not will they rent? Its will renters ever leave?

Susan Phillips, CEO SelectLeaders
February 10, 2016

About the SelectLeaders Job Barometer

The SelectLeaders Job Barometer, published since 2006, is the foremost survey of employment opportunities, trends, and hiring practices in the commercial real estate industry.

About the SelectLeaders Real Estate Job Network

SelectLeaders powers the Career Centers for 9 premier real estate industry Associations (whose members control or direct 90% of commercial real estate). Jobs are from all sectors and all levels with 29% paying over $100,000. SelectLeaders Job Network offers unequalled access to the Real Estate community. To learn more visit or visit our Job Network Career Centers: BOMA, CCIM, CREFC,, NAIOP, NAREIM, NAREIT, NMHC, PREA, Project REAP, ULI, NRHC

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