If you’re moving to a new rental apartment in New York City this summer, you can still find generous concessions like several months of free rent, even as more renters are returning to the city. When there's competition for apartments—landlords are less likely to offer freebies. But for now, there are still high levels of vacant apartments and landlords are looking to entice new renters.
You’re most likely to find these deals at new luxury developments in Manhattan and parts of Brooklyn and Queens (Think: Long Island City and Downtown Brooklyn.) You can find rental listings on StreetEasy offering two to four months of free rent, owner-paid broker fees, and even move-in bonuses.
When you’re searching for apartments with free months, make sure to figure out the gross rent. Sometimes brokers advertise apartments with the net rent, which reflects the concession divided up and spread over the full term of the lease but that lower number isn't what you'll pay each month. (Need help calculating your real rent? Use Brick Underground’s gross-rent calculator.) And, remember that you might not get the same freebies when you renew your lease and any rent increases are based on your gross rent. (One workaround: Find a rent-stabilized apartment.) However, right now, some landlords are offering concessions at lease renewal, but the market may not favor renters a year from now—so keep the gross rent in line with your budget.
If you’re looking for a deal on a rental, check out these five apartments offering two or more months of free rent in Central Harlem, Prospect Lefferts Gardens, Chinatown, Sutton Place, and Hunters Point.
2186 Fifth Ave., #15L, Central Harlem
This no-fee studio is listed for $1,750 with two months free on a 14-month lease plus a $500 move-in bonus if you sign a lease by July 1st. Apartment #15L has parquet floors, an oversized window, three closets, and a dishwasher. Amenities include doormen, concierge, on-site security, parking, and a laundry room. Harlem River Park Bikeway and Harlem Blues Cafe are nearby.
33 Lincoln Rd., #3A, Prospect Lefferts Gardens
This no-fee studio is listed for $2,163 with two months free on a 12-month lease. The rent-stabilized apartment has hardwood floors, stainless steel appliances, two closets, two windows, and central air. Amenities include two roof decks, bike storage, a fitness center, doorman, live-in super, and laundry room. Prospect Park and El Patron are nearby.
174 Hester St., #9, Chinatown
This no-fee one bedroom, one bath is listed for $2,509 with two-and-a-half months free on a 12-month lease. The duplex apartment has hardwood floors, stainless steel appliances, high ceilings, recessed lighting, and a walk-in closet. Sara D. Roosevelt Park and Il Cortile are nearby.
440 East 58th St., #2F, Sutton Place
This two bedroom, one bath is listed for $3,015 with two months free on a 12-month lease. The renovated apartment has hardwood floors, recessed lighting, exposed brick walls, moldings, and stainless steel appliances. Sutton Park and Bistro Vendôme are nearby.
28-10 Jackson Ave., #3M, Hunters Point
This no-fee one bedroom, one bath is listed for $3,555 with four months free on a 12-month lease. Apartment #3M has hardwood floors, floor-to-ceiling windows, solar shades, LED lighting, stainless steel appliances, four closets, and an in-unit washer and dryer. Amenities include a private park, gym, pool, doorman, bike room, and concierge. Dutch Kills Green and Tacombi are nearby.
You Might Also Like