Optimal Spaces Nov 2025 NYC Market Report

 Office:

Manhattan's office market is showing a strong recovery with major tenants such as Deloitte, Guggenheim Partners and Salesforce signing significant deals in the third quarter. Leasing activity has reached its highest year-to-date level since 2002, surpassing 30 million square feet for the year. Availability rates have fallen to 14.6%, the lowest level since December 2020, while average asking rents are on the rise.

Retail:
Gyms, event spaces and grocery stores signed the largest leases. Prime retail is in demand. Otherwise, retail demand is soft.

Sales:
Building sales continue to increase in volume as owners are forced to sell or surrender their buildings to the lender.

New York Market Overview

Office:

New York City's office market is seeing a surge in demand from anchor tenants such as: financial services, tech and law firms which is driving new premier office developments. Related Companies, Extell Development, and BXP are securing significant pre-leases for projects like 70 Hudson Yards (Deloitte), 570 Fifth Avenue (Simpson Thacher & Bartlett), and 343 Madison Avenue (C.V. Starr) with completions expected by 2029—stricter return-to-office mandates fuel this trend.

Suitable Class A office space in Manhattan remains limited. Overall, office inventory paid significantly in Q3 2025, partly due to office-to-residential conversions. This scarcity forced smaller tenants into the middle market, while top occupiers snap up prime new spaces.

Manhattan's office vacancy rate hit a five-year low of 14.8% in Q3 2025 and rents, especially for trophy assets, have reached record highs. Many new developments will command rents over $200 per square foot.

1. Guggenheim Partners leased 360,000 SF at 330 Madison Avenue.
2. Salesforce leased 310,000 RSF at 3 Bryant Park in a new renewal and expansion for 71,000 SF for its Agentforce.
3. Scotiabank leases 205,000 RSF at 660 Fifth Avenue, relocating from 250 Vesey Street.
4. Bank of New York is subleasing 192,000 sf at the World Trade Center.
5. BlackRock is subleasing 194,000 square feet from Meta at 50 Hudson Yards, bringing its total footprint in the building to 1.24 million square feet.
6. The Office of General Services expanded its lease at 919 Third Avenue, adding 66,000 SF, for a total of over 117,000 square feet across the top two floors.
7. Harvey AI Corporation leased 93,000 square feet at One Madison Avenue.
8. New York's Department of Citywide Administrative Services leased 81,000 sf for the Department for the Aging at 14 Wall Street.
9. Scale AI subleases 80,000 sf at 1 WTC until the beginning of 2030.
10. FGS Global signed a 15-year lease for 80,000 square feet at Penn 2. The asking rent for the space was $115 per square foot.
11. Lewis Brisbois leased 70,000 RSF at 140 Broadway.
12. Bilt leased 58,000 SF lease at 837 Washington Street.
13. Massumi + Consoli leased 58,000 RSF at 133 Sixth Avenue.
14. Verra Mobility subleases 57,149 RSF at 55 Water Street from Emblem Health.
15. Nagarro leased 42,000 SF at 195 Broadway.
16. Sagard Capital leased 40,000 sq ft on the 33rd and 34th floors at 280 Park Avenue for $130 per sq ft, expanding from 9,000 sq ft on the 29th floor.
17. MSQ Partners leased 38,000 SF at 50 West 23rd Street in a new 10-year lease.
18. Industrious leased 33,000 SF at 190 Bowery for 7 years.
19. Breaking Ground leased 32,300 RSF at 520 Eighth Avenue.
20. Insight Global leased 32,000 RSF at 437 Madison Avenue for a 10-year lease.

Retail:

1. Equinox leased 50,000 sf at 261 11th Avenue.
2. Convene Hospitality Group leased 50,000 sf at 261 11th Avenue.
3. SuperFresh signed a new lease for 22,500 SF at 166-20 90th Avenue.
4. Lululemon leased 19,000 sf at 524 Broadway.
5. Upadhyay leased 17,000 SF at 622 Third Avenue.
6. Abercrombie & Fitch leased 6,000 SF at 520 Broadway.
7. Prime Liquidation leased 12,000 sf at 2184 Clarendon Road.
8. Calzedonia leased 8,400 sf at 501 Broadway.
9. Sephora leased 7,800 sf at 1 St Mark's Place.
10. Pop Mart leased 7,000 sf at 1540 Broadway.
11. Corner Bistro leased 6,000 sf at 94 Avenue A.
12. From the Source leased 5,900 sf at 315 Hudson Street.

Major Developments:

1. Douglaston and Kinwood are developing a 590-unit residential tower, with 55 percent of the units affordable, at Gansevoort Square in the Meatpacking District. The project, located on a 10,000-square-foot lot at Little West 12th Street and 10th Avenue, plans to utilize the 485x tax break, which requires at least 25 percent of the affordable units to be reserved for those earning 60 percent of the area median income.
2. Long Island City (LIC) may gain 15,000 apartments if the City Council approves a rezoning proposal this month. Developers have already delivered thousands of housing units since a 2001 rezoning transformed LIC from an industrial area to a desirable residential hub. This boom began with rentals and then expanded to luxury condos due to increased demand during the pandemic. Property Shark reports that median sale prices in LIC more than doubled between 2014 and 2024, rising from $287,000 to $667,000.
3. Rivington Co plans 99 units and 12,300 sq ft of commercial space in a 136,800 sq ft FiDi conversion at 140 Fulton St, a lot bought for $26M.
4. The City Council approved the rezoning of 230 blocks in Jamaica, Queens, the fourth neighborhood rezoning under the Adams administration. This plan is projected to create 11,800 housing units, with 4,200 permanently affordable, and includes the city's largest Mandatory Inclusionary Housing zone.
5. The City Council advanced the Long Island City rezoning, set to create 14,700 new homes, including 4,300 affordable units, and 3.5 million square feet of commercial space, after the Adams administration pledged $1.5 billion for the neighborhood. The proposal now goes to City Planning before a final Council vote.
6. InterVest Capital Partners, the company that bought the 48-story tower at 30 Broad Street in the Financial District through a foreclosure auction in June, has submitted plans to transform the building into 571 rental apartments.
7. New Midtown developments offer some relief by allowing existing assets to serve other clients. BXP's 3 Hudson Boulevard will likely require a substantial anchor to secure financing, whereas 343 Madison Avenue was funded off-balance sheet due to its smaller scale.
8. SL Green plans to build a new 41-story office tower at 346 Madison Avenue on spec. RXR and TF Cornerstone are undertaking the ambitious 175 Park Avenue project, which will replace the Grand Hyatt Hotel with a towering office and hotel complex.
9. Councilmember Mercedes Narcisse introduced a bill to allow owners of one- and two-family homes in NYC to rent out their properties on a short-term basis without being present, thereby loosening the 2023 short-term rental law.
10. The city selected Rybak to develop a 505-unit Coney Island project on Surf Avenue, part of a larger neighborhood redevelopment. This includes a $1 billion+ investment in boardwalk renovations and the creation of 10,000 housing units on city-owned land, with 1,500 units in Coney Island West. NYCEDC president and CEO Andrew Kimball stated, "Utilizing public land for housing is a critical way to increase our supply."
11. A $200M joint venture plans two 14-story towers in Downtown Jamaica, named "Arras." The project, a partnership between Greater Jamaica Development Corporation, Gotham Organization, Monadnock Development, and Moses Sole Realty, will redevelop a five-story parking garage. It will include over 350 affordable rental units and 72 income-restricted condos.
12. DOJ calls on independent trustee to take over LuxUrba, citing "chaos" for customers and creditors in the hotel operator's bankruptcy. Attorneys for the Office of the U.S. Trustee filed a motion for an independent trustee to take over the bankrupt firm.
13. Brookfield Properties is nearing a $1.3 billion refinance for 660 Fifth Avenue, a redeveloped office tower. A $1.2 billion CMBS loan will be originated by Citi Real Estate, Barclays, ING Capital, Bank of America, and Santander Bank, with an additional $89.4 million mezzanine loan. The 1.3 million-square-foot, 39-story tower is appraised at nearly $2 billion.
14. Governor Hochul has allocated nearly $500 million to Mitchell-Lamas statewide, averaging $4,762 per unit, with one agency providing over $11,000 to 24,000 units. If applied to NYC's rent-stabilized units, this would total $4.6 billion. A recent budget cut reduced Mitchell-Lama taxes by $50 million annually, but this exclusion did not apply to Penn South, a "Article V" co-op. Despite shareholders keeping maintenance fees too low to cover building costs, the state is allowing a $2 million annual tax cut for Penn South.
15. MGM Resorts withdrew its $2.3 billion Yonkers casino proposal despite unanimous community advisory committee approval. The company cited a "newly defined competitive landscape" with remaining proposals clustered in outer boroughs (Queens Aqueduct, Steve Cohen's Metropolitan Park, Bally's Bronx). MGM also noted that new state rules would only grant them a 15-year license, not the 30 years they expected for their $2.3 billion investment.
16. Related poised to develop skyscraper at Prada's Fifth Ave building. Related Companies is nearing a deal to create a skyscraper at 720-724 Fifth Avenue. The building may be attached to the Aman hotel and residences adjacent to the site; tenants may even be able to utilize the amenities next door. Blau is negotiating to develop a 225,000-square-foot building. Prada would have a store at the base of the property, with corporate offices above. The building would also feature luxury residences that could command prices of five figures per square foot. Prada would reportedly need to relocate during the construction of the property.
17. C.V. Starr agrees to lease approximately one-third of the 1-million-square-foot development. C.V. The 343 Madison development is a prominent 46-story tower connected to Grand Central Terminal. BXP had a letter of intent for 30% of the building's leasable space last month, presumably with C.V. Starr.
18. The borrower for 650 Madison Avenue, including Vornado Realty Trust, has defaulted on payments for the 28-story, 595,000-square-foot office and retail building. Owners include Vornado, Oxford Properties Group, and the Ontario Municipal Employees Retirement System. Occupancy is 74%. Ralph Lauren shrank its lease by 39% and now pays roughly 30% less in rent.
19. The New York casino license competition seems to be between Metropolitan Park and Bally's Bronx, as MGM Empire City and Resorts World's Queens Aqueduct Casino are strong contenders for two of the three licenses. Cohen and Hard Rock International propose a 50-acre casino complex near Citi Field, featuring a 1,000-key hotel, a music venue, and green space. Bally's plans a casino on 16 acres at Bally's Golf Links, including 500 hotel rooms and a 2,000-seat entertainment venue.
20. JPMorgan Chase is developing a "city within a city" in Midtown Manhattan, centered around its new 60-story headquarters at 270 Park Avenue. The $5 billion project, spearheaded by CEO Jamie Dimon, includes the acquisition of 250 Park Avenue and a planned overhaul of 383 Madison Avenue, totaling nearly 6 million square feet of office space.
21. Manhattan's median apartment rent in September was $4,550, up 8% year over year. Elevated mortgage rates have kept buyers in the rental market, driving demand.
22. Zohran Mamdani's proposals, like free daycare and a $70 billion bond, face criticism, but he still leads Andrew Cuomo by 13 points in the mayoral race. Cuomo, possibly influenced by Mamdani, has drastically altered his housing plan from 500,000 units over ten years to 500,000 affordable units built concurrently, a far more difficult and expensive undertaking.
23. Mamdani, the Democratic primary winner, backs these NYC housing initiatives: rezoning, weakening City Council member deference, supporting City Charter revisions, adding and simplifying rental vouchers, increasing HPD staff, and urging Albany for property tax reform.
24. Louis Greco files for bankruptcy claims between $100 million and $500 million in liabilities.
25. Chelsea Piers Management signed a new lease for more than 48,800 square feet at 200 Varick Street.
26. Farallon Capital Management invested in RXR Realty's 75 Rockefeller Plaza, valuing the 627,000-square-foot tower at $190-200 million. This is below the $260 million debt RXR secured in 2022. The deal also restructured the property's debt into an A note and a "hope note."
27. StreetEasy updated its platform to reflect new market conditions. It now includes a tool for agents to detail rental costs, helping them comply with NYC's FARE Act, which bans landlord-hired agents from charging tenant broker fees. The "Days on Market" metric for for-sale listings is still available under Property History. These changes highlight ongoing industry discussions about listing marketing.
28. Mamdani's rent freeze is more likely than ever. Mayoral frontrunner and rent-stabilized experts eye other ways to help owners.
29. Cirrus Real Estate and LCOR have bought Greenland USA's troubled Pacific Park project in Brooklyn, taking over $200 million in debt. The joint venture will restructure the long-delayed development, which includes 876 unbuilt affordable units. They will pay $12 million into an affordable housing fund, and state fines against Greenland for missing the affordable unit deadline have been halted.
30. Judge says residential condo board at 75 Wall Street can place lien on Hyatt hotel over common charges amounting to $500,000.
31. The Jamaica, Queens rezoning (230 blocks) is set for a final City Council vote this month. Approved with changes by subcommittees, the rezoning reduced projected housing units from 12,300 to 11,800. Modifications included a lower density south of downtown Jamaica and removing some southern corridor districts for better transition to existing residential areas. The Adams administration committed $413 million for infrastructure, parks, and schools, adding to over $300 million from the City of Yes for Housing Opportunity.
32. The City Council is also expected to vote on the Long Island City rezoning (50-plus blocks) this month, though local Council member Julie Won seeks greater affordability and infrastructure investments. These rezonings, if approved, will conclude five neighborhood rezonings under the Adams administration. Major initiatives like a text amendment for last-mile facilities and the Manhattan Plan will be left to the next mayor.
33. Fed Delivers Second Rate Cut, Signaling Shift from Previous Forecast Jerome Powell Hints at Further Uncertainty Regarding Future Cuts
34. 1211 Sixth Avenue, the valuation has fallen 42% since 2015. The property was most recently appraised at $1.19 billion. The property's loan, with $1.04 billion outstanding, was transferred to special servicing in May ahead of an August maturity date. This month, RXR secured a $1.45 billion recapitalization of the property. About $367 million is expected to go to improving the tenant experience.
35. Developers are rushing to complete projects qualifying for New York's former 421a tax exemption by the June 15, 2026, deadline. Despite an extension granted last year, which came with stricter affordability requirements, many are incurring higher costs to finish construction on time. The program's expiration and subsequent extension highlight its complex legacy and its role in adding over 100,000 housing units to the city.
36. Developers of the Flatiron Building's 35 residential units have unveiled initial pricing for 18 condos, projecting a $375 million sellout. Prices range from just under $11 million to $50 million. The Brodsky Organization and Sorgente Group are developing the project.
37. The Housing Stability and Tenant Protection Act of 2019 has significantly devalued New York's rent-stabilized buildings by up to 75%. Landlords struggle with strict deregulation documentation and face costly rent-overcharge lawsuits, including treble damages.
38. Most expect the state to grant MGM and Resorts World two of the licenses because they both already operate as racinos. That would leave Bally's and Metropolitan Park proposals competing against each other for the last license.
39. Meyer Chetrit faces felony indictment in Manhattan for a five-year campaign of harassment against two elderly, rent-regulated Chelsea tenants. Charges include two counts of first-degree harassment, a Class E felony, carrying a maximum four-year prison sentence.
40. Caedes Group's 43 Bleecker Street, an 11-unit condo conversion, is the first project to use the Affordable Housing Fund option for Mandatory Inclusionary Housing (MIH) compliance, which bridges the gap between MIH exceptions (under 10 units/12,500 sq ft) and the requirement to build units (over 25,000 sq ft/25 units).
41. Mayor Eric Adams is finalizing a 20-year deal with Related Companies to operate Wollman Rink. The deal includes $10.9 million in upgrades and $91 million in concession fees.
42. Jersey City Mayor Steven Fulop will become the next president and CEO of the Partnership for New York City, succeeding Kathryn Wylde, following a months-long search and board confirmation. Fulop's final mayoral term ends in January; he has overseen significant development in Jersey City.

Buildings for Sale:

1. The Dermot Company and Rockwood Capital are eyeing a price tag of $115 million for their multifamily rental building at 250 East Houston Street.
2. Brooklyn Mirage, the live music venue, is facing demolition. Its owner has filed for a permit to fully demolish 32,000 square feet of the complex, which totals approximately 80,000 square feet. This move comes as the bankrupt venue is in the process of being sold to its lender. The estimated cost for this demolition is $1.5 million.
3. Rockwood Capital has listed its 230,000-square-foot office building at 1 Broadway, asking $180 million.
4. Sherwood wants to sell 460 10th Avenue along with plans for a 233-unit resi building, hoping for $100 million.
5. LuxUrban Hotels is facing liquidation, capping off its failed bid to build a boutique empire in New York. The short-term hotel operator's Chapter 11 case was converted to Chapter 7 after federal officials accused company leadership of "gross negligence" and mismanagement.
6. Clarion Partners and Alchemy Properties face foreclosure on their 24-story, 211,000-square-foot property at 209-211 East 43rd Street. A Miami-based plaintiff sued a linked LLC, alleging default on a $57 million loan.
7. A&E Real Estate faces foreclosure at 1080 Amsterdam Avenue, near Columbia University, over a $29 million loan default. Apex Bank is suing to seize and sell the 20-story, 96-unit tower to recover the $28.3 million owed, plus interest and fees, after A&E allegedly missed three months of mortgage payments and violated other loan terms.
8. Parkview Financial has filed for Chapter 11 bankruptcy at the Hudson Hotel site, aiming to recapitalize the building and convert it into 400 rental units. This move follows a dispute with developer CSC Real Estate, whom Parkview sued for alleged construction mismanagement after CSC dodged a foreclosure. The bankruptcy is not expected to impact current residents.
9. Chetrit and Stellar's Columbus Square shopping center loan, secured by a 270,000-square-foot center anchored by Whole Foods and Target, has re-entered special servicing due to missed payments. This follows a previous special servicing event in late 2023, which resulted in a three-year extension on the $360 million mortgage.

Buildings Sold:

1. SL Green is set to purchase the 36-story Park Avenue Tower located at 65 East 55th Street from the Blackstone Group for $730 million.
2. Norges Bank Investment Management and Beacon Capital Partners bought the building for $572 million from Silverstein Properties and the California State Teachers' Retirement System. The 47-story skyscraper at 1177 Avenue of the Americas has 1 million square feet sold for $572 per square foot.
3. An MCM-managed fund sold a portfolio of non-union hotels, including the Hilton Garden Inn New York Times Square North, Motto by Hilton, New York City Chelsea, and the leaseholds for DoubleTree by Hilton New York Times Square South and Fairfield Inn & Suites New York Midtown Manhattan, for $489 million to institutional investors. A different MCM fund retains a minority stake, having sold over 90% of its equity in the properties.
4. Kam Sang Company acquired the Edition Clocktower Hotel at 5 Madison Avenue from the Abu Dhabi Investment Authority for approximately $250 million.
5. Cain snaps up Dominick for $175 million. New York Life Real Estate Investors bought 757 Third Avenue, a 500,000-square-foot Class A building, from BentallGreenOak via deed-in-lieu to avoid foreclosure.
6. Arcadia paid $231 million for the 252,000-square-foot hotel at 5 Madison Avenue known as the Edition Clocktower Hotel. The seller was the Abu Dhabi Investment Authority.
7. Sapir Corp, controlled by Alex Sapir, filed for insolvency and sold its Nomo Soho hotel for $125 million to Dan Hotels. The company's directors have resigned. The deal awaits court and bondholder approval.
8. Weill Cornell Medicine purchased Sotheby's former 500,000-square-foot headquarters at 1334 York Avenue for $510 million, or approximately $1,020 per square foot.
9. AmTrustRE is in contract to buy Sapir's 260 Madison Avenue for $217 million. The 570,000-square-foot property is 68% leased, with $10 million in annual NOI.
10. An entity connected to Ikea purchased 529 Broadway from Jeff Sutton for $213 million. It's a 58,000-square-foot commercial building occupied by Nike.
11. CIM Group sold the Dominick Hotel at 246 Spring Street to Cain International for $170 million.
12. 5 East 42nd Street sold for $135 million. The buyer was the Vanbarton Group, and the seller was the Milstein family's Private Bank & Trust (formerly Emigrant Savings Bank). Vanbarton plans to convert the 375,000-square-foot property into a 500-unit apartment complex.
13. MML Hospitality bought Nine Orchard for $92 million, or $814,000 per key.
14. Morgan Stanley Real Estate Investing bought the property at 83-15 24th Avenue and the adjacent parking lot for $86.7 million. The seller was Blackstone. The 117,000-square-foot facility or $741 per square foot.
15. Bonjour Capital purchased the 180-unit apartment section of 1501 Voorhies Avenue from AvalonBay Communities for $75 million. The 28-story building was completed in 2017.
16. Madison Realty Capital bought 1580 Nostrand Avenue for $70 million credit. Bid from Developer Karp.
17. ATCO Properties sold a stake in a 22-story office tower at 630 Third Avenue for $66.2 million to The Davis Companies and Tribeca Investment Group. ATCO maintains a stake.
18. Closer Properties, an affiliate of Xin's family office, bought five adjacent parcels on the Upper East Side for $62.5 million. The sites are 150 East 79th Street, 152 East 79th Street, 154 East 79th Street, 1135 Lexington Avenue, and 1131 Lexington Avenue. Gregg Winter's W Financial was the seller.
19. An 83-unit apartment building at 10 Rutgers Street sold for $56.3 million. The buyer was an LLC tied to Tokyu Land U.S. Corp. Acquisitions, and the seller was an LLC signed to AMAC. AMAC still appears to have some connection to the buying entity.
20. Unit 121 at Extell's 217 West 57th Street went into contract with a last asking price of $54.9 million. A domestic buyer put down all cash.
21. Ben-Josef Group Holdings bought the Chatwal, a Midtown West hotel, for $53.2 million. The firm purchased the ground lease for the 76-room luxury hotel at 130 West 44th Street from an entity connected to the late Iyer Vaidyanathan Narayan's estate.
22. Darcy5066 LLC paid $46.7 million on a sponsor condo unit at 50 West 66th Street. The five-bedroom unit spans 6,942 square feet, or about $6,700 per square foot.
23. A deal is pending on the 20,000-square-foot townhouse located at 4 East 80th Street.
24. Shiya Labin sold 6201 15th Avenue to George Lebovits for $42.3 million. Williamsburg-based limited liability company 6201 BSD, a shell company for Labin, was the seller. The deal breaks down to $280 per square foot.
25. A 12-story office property at 75 Maiden Lane sold for $40.2 million. LLCs tied to Robert Wolf and AM Property Holdings Corp sold the building. The new owner is CSC 75 Maiden Prop Co LLC, registered.
26. Joseph DiMenna sold the townhouse at 10 East 67th Street for $36 million. The buyer is shielded by an LLC, paid roughly $2,800 per square foot.
27. A mixed-use property at 81 Franklin Street sold for $30 million. The buyer was an LLC tied to Slate Property Group and the seller was Francis Moezinia's Rex Properties. The six-story building spans about 26,000 square feet and has 11 apartments.
28. The Metropolitan Museum of Art has sold two Upper East Side townhouses located at 6-8 East 82nd Street for a combined asking price of $28 million.
29. Thorofare Capital has bought the 99-year ground lease for KPG Funds' Greenwich Village office redevelopment at 132 West 14th Street for $27.7 million. This acquisition ends KPG's plans to transform the former Salvation Army building into a Class A office and retail property. KPG had originally signed the ground lease in 2021 for $22.1 million.
30. J. Carey Smit, Nancy Smith and Tristan Smith sold a townhouse at 11 West 12th Street for $26.5 million. The five-story, 25-foot-wide townhouse spans 9,700 square feet and has six bathrooms and a two-car garage. The buyer was 12th Street NY Holdings LLC.
31. Rivington Company paid $26.4 million for a development site at 140-142 Fulton Street. The seller was Bank Hapoalim.
32. LNR Partners sold a 12-story property at 29 West 35th Street for $25 million; Marty Burger and Andrew Heiberger plan to turn the 85,000-square-foot property into a 107-unit apartment complex.
33. The Baudouine Building, an 11-story office property located at 1181 Broadway, has nearly 27,000 square feet and was recently sold for $24 million. The transaction involved an LLC managed by Bahram Hakakian as the seller and another LLC as the buyer.
34. Benenson Capital Partners bought a ground-floor retail condo at 542 Broadway for $22.5 million. The seller was 109Co, led by Bastien Broda. The unit, occupied by a New Balance store, is about 7,100 square feet.
35. An LLC tied to Acadia Realty Trust sold a retail and office condo at 1035 Third Avenue for $22 million. The buyer was an LLC linked to Albert Rabizadeh. The first-floor retail unit measures about 7,800 square feet, and the office space is 12,800 square feet across floors one and two.
36. An affiliate of Torchlight Investors sold three commercial condos at 445 Fifth Avenue for $21.6 million. The buyer was an LLC tied to Stream Line Circle. The combined units have 28,305 square feet or $760 per square foot.
37. Kym Louise Johnson and Robert Herjavec paid $20.1 million on a sponsor unit at 111 West 57th Street. The full-floor unit has 4,500 square feet, or $4,400 per square foot.
38. A gas station at 127-48 Northern Boulevard sold for $20 million. The seller was a company affiliated with Michael St. John, and the buyer was an entity associated with Eric Wang Li. The property sits on a 0.9-acre lot.
39. ABS Partners Real Estate has bought a 75-year ground lease for 515 West 57th Street at a cost of $17.25 million, as indicated by public records. The ground lease, which includes a first right to purchase, was sold by All Mobile Video, a studio and production company.
40. MD2 Property Group offloaded two apartment buildings at 4 West 108th Street and 8 West 108th Street in Manhattan Valley for $17.5 million. The buyer was Los Angeles-based Bando Geny 3 LLC. The adjacent properties stand six stories tall and have 48 apartments combined.
41. A 3,300-square-foot unit at 988 Fifth Avenue sold for about $16.3 million. The seller was 9885th 12 Flats, LLC, which had purchased the unit in 2022 for $14.6 million. The buyer was 988 5th Avenue 12F LLC.
42. The two units, 25A and 24A, at 220 Central Park South sold for the same price: $16.15 million. The buyers were different LLCs. The sellers of the higher unit were Fenglei Fang and his Suning Fang. The seller of the lower unit was Willow Oak Holdings LLC.
43. Barbara Corcoran bought a penthouse at 1016 Fifth Avenue for $16 million. The seller was a trust. The pad has three bedrooms, a library, and a terrace.
44. Kristian Humer sold a unit at 155 West 11th Street for just under $16 million. The buyer was a trust. The 3,300-square-foot condo has four bedrooms and three and a half bathrooms.
45. Ayal Horovits and Michele Bailey-Horovits sold a detached single-family home at 809-815 Avenue J for $15.5 million. The property is one residence with 4,500 square feet across two tax lots. The buyer was an LLC tied to Joseph E. Khezrie.
46. A hotel at 29-13 39th Avenue sold for $14.9 million. The buyer was Rialto Capital Advisors. The seller, Long Island City Partners LLC.
47. Two commercial condos sold $14.4 million. The ground-floor, 1,700-square-foot unit at 210 West 77th Street, sold for $9.6 million. The sellers, LLCs tied to David R. Mashaal, the condos' new owners are LLCs signed to Mark Hakim.
48. Tanya Wexler sold 83 Jane Street for $14.6 million. The buyer was an LLC named after the property's address.
49. Barbara Corcoran sold her NYC penthouse for $13.5 million and had invested $2 million in renovations.
50. Mark and Elizabeth Greenhill have purchased a 2,800-square-foot penthouse sponsor unit at GFI Capital's One11 Residences at Thompson Central Park (111 West 56th Street) for $12.3 million. This Midtown residence boasts four bedrooms, four bathrooms, and approximately 2,900 square feet of terrace space.
51. 12 square feet of signage at 1619 Broadway sold to John Gore Organization for $12.2 million. The seller was Mack Real Estate Group.
52. Extell Development Company has sold a sponsor unit at 50 West 66th Street to Christen Lee and Nyssa Fajardo Lee for just over $12 million, or approximately $3,100 per square foot. The unit spans 3,900 square feet.
53. David Katz paid $10.8 million on a 4,000-square-foot sponsor unit at The Astor at 235 West 75th Street. A duplex with an additional 3,000 square feet of outdoor space.
54. A townhouse at 80 Horatio Street sold for $10.3 million. The seller was 80 Horatio St. Corp. The buyer was an LLC tied to Maurice Regan.
55. Chuck Clarvit, Nancy Clarvit sold their penthouse condo at 21 West 20th Street for $10 million or $2,000 per square foot. The buyer was Ceteris Investments LLC: the full-floor 4,800 square feet unit.
56. A retail store at 1800 Williamsbridge Road, housing a Citibank, sold for $9.9 million to an LLC managed by Miguel Garcia. The sellers, four LLCs tied to Louis Lefkowitz Realty, had bought the 13,500-square-foot property.
57. A co-op at 1175 Park Avenue sold for $9.9 million. The sellers were Richard Hogan and Carron Sherry. The buyer was a trust.
58. John J. Sie, and the estate of his wife, Anne M. Sie, sold with a co-op at the Hampshire House at 150 Central Park South for $9.3 million. The unit has three bedrooms, three bathrooms.
59. A Staten Island mansion with eight bedrooms that sold for $8.5 million. The sellers of the home at 57 Saint James Place were Richard and Vania Cardinale, and the buyer was Montauk Island Estates LLC, tied to Mohammed S. Azad.
60. 192 Stuyvesant Avenue, a 19,000-square-foot, 27-unit apartment building, sold for $8.5 million. The seller was an LLC tied to the Loketch Group, which had bought the seven-story property for $500,000 in 2013. The buyer was an entity linked to Guy Peleg.
61. David Krohn, a crypto trader, and Phyllis Lee bought a home at 330 West 88th Street for $8.5 million. The seller was an LLC linked to Mohammad Badaly. The six-story home spans over 7,000 square feet and has more than 1,400 square feet of outdoor space. It has an elevator, four bedrooms and six-and-a-half bathrooms.
62. Joshua Silverman and Shirin Ghotbi sold a condo at 101 West 78th Street. Vitaly Kuznetsov and Masayo Oto paid $8.4 million the four-bedroom, 4,000-square-foot unit.
63. Harold and Jennifer Shaftel sold a condo at 102 Wooster Street for $8.4 million to an LLC whose sole member is Jeremy L. Goldstein.
64. 220-10 Northern Boulevard sold for just under $8 million has 3,900 square feet, or $2,000 per square foot. The sellers were: Mara Ginsberg, Alfred Lama, William Valone, James Vassalotti, John and Adam DiGirolamo and Susan Prober Siegel. The buyer was an LLC with Hui Li as a member.
65. Stephen Orlins and Jiaying Jiang paid $7.9 million for a sponsor unit at 15 Hudson Yards. The four-bedroom has over 3,000 square feet or about $2,600 per square foot.
66. A four-story, 6,400-square-foot apartment building with four units at 6 East Second Street was sold for $7.9 million. The buyer was an entity connected to Ryan Forman, while the seller was an entity associated with Bray Kelly of KingsRock Advisors.
67. A two-family townhouse at 14 Bank Street sold for $7.8 million. The sellers were Gene Kaufman and Terry Eder Kaufman. The buyer was 14 West Village LLC. The townhouse has approximately 3,600 square feet, comprising two two-bedroom triplexes.
68. A company tied to Robin Damaghi sold with a brownstone at 405 Sackett Street. The buyer, 405 Sackett Street LLC, paid $7.7 million for the six-bedroom home.
69. Eric Scuderi and Natalia Wolff paid $7.6 million on a co-op at 770 Park Avenue. The seller was the estate of Patricia Klingenstein. The four-bedroom co-op comes with a storage rtoom and has two fireplaces and a library.
70. William and Leslie Jacques sold a condo at 565 Broome Street. The buyer, AIO NYC RE LLC, paid $7.5 million, about $3,300 per square foot, for the 2,200-square-foot unit.
71. A trust tied to Lea DiPerna, owner of a business management firm, sold a 2,700-square-foot condo unit at 173 East Broadway for about $7.5 million. The buyer was an LLC managed by Nicholas Harris Ulanoff.
72. V&M Buzzetta Realty Corp. sold four adjacent one-story industrial buildings at 82-88 Apollo Street for $7.4 million. The buyer was Jin Lin Realty LLC. The four buildings span just over 18,000 square feet. The deal works out to roughly $411 per square foot.
73. The Renaissance Youth Center purchased a building for $7.3 million at 3485 Third Avenue from an LLC tied to Kiumarz Guela. The five-story building has 33,500 square feet, or $210 per square foot.
74. Albino and Morena Rizzuto sold with a multifamily building at 29-06 Crescent Street in Astoria. The buyer, VDI Land Corp., which is tied to Whitestone, New York-based banquet hall Verdi's, paid $7.3 million for the four-story property, which spans about 29,500 square feet and has 38 apartments.
75. Susan Huang paid $7.3 million for a unit at 1100 Park Avenue. The seller was a trust tied to Randy Fishman. The unit has three bedrooms, three and a half baths, an in-home gym, and a private elevator landing.
76. Rick and Simran Singh paid $7.2 million for a sponsor unit at 1289 Lexington Avenue. The 3,700 square feet condo duplex has four bedrooms and four and a half bathrooms.
77. A development site at 28-12 41st Avenue in Long Island City. The price was $7.1 million. The seller is an affiliate of Lily Guo's iCross Capital. The property's new owner is an LLC linked to Aditya Ajaykumar Shah and Palwinder Shah.
78. Isaac and Claudia Saide purchased 2173 East Fourth Street for $7 million. The seller was Jonathan Barnathan.
79. A commercial condo at 1619 Broadway was sold to Mack Real Estate Group, and the buyer was Nayaan LLC, tied to Saima Chowdhury, who paid $7 million for the 12,300-square-foot unit.
80. Rit Venerus, founder of Cal Financial Group, scooped up a sponsor unit at 35 Hudson Yards for just under $7 million. The unit spans about 2,700 square feet and has three bedrooms and three and a half baths.
81. The commercial space and 8 of 12 of the property's residential condos sold for $6.9 million. The seller was an affiliate of Amerasia Bank, and the buyer was Farrington Capital LLC.
82. David Muir sold his townhouse at 256 West 4th Street for $6.9 million. The buyer was 256 W 4th LLC. The four-story residence features three bedrooms.
83. Rachel and Richard Franco sold a nearly 2,900-square-foot, single-family home at 2089 East 4th Street for $6.7 million. The purchaser was a company managed by Haim Chera.
84. Avdoo Partners & Development shed two plots of land at 419 and 423 Dean Street in Park Slope for $6.7 million. The buyer was a company managed by Daniel Kaykov. Combined, the lots, which are vacant and zoned for residential use, span more than 5,300 square feet.
85. Bruce Harting and Carole Divet Harting sold a co-op at 1185 Park Avenue. The buyer was the Pevaroff Cohn 2006 Family Trust, with Lisa Pevaroff, as trustee. The trust paid $6.6 million for the 3,400-square-foot unit.
86. Joanne and Craig Laurie picked up a full-floor condo, a sponsor unit, at 126 East 86th Street, developed by Rybak Development and BK Developers, for $6.6 million. The four-bedroom unit spans about 2,800 square feet and has two terraces.
87. Michael and Denise Fazio sold a four-bedroom condo at 62 Beach Street for $6.6 million. The buyer was Jaan Holdings LLC.
88. A trust linked to art advisor Paola Saracino Fendi purchased a co-op at 14 East 75th Street from Jonathan and Marjaleena Berger for $6.5 million. The three-bedroom unit has three and a half bathrooms and Central Park views.
89. An LLC linked to Jeremy Lo Yi Yun bought a sponsor unit at The Centrale at 138 East 50th Street for $6.4 million. The three-bedroom unit has about 2,800 square feet or $2,300 per square foot.
90. An LLC tied to Sun Choi Tsang sold a development site at 37 Meserole Street for $6.4 million. The purchaser was an LLC signed to Zihang Chen.
91. Chelsea and Nicholas Scribani paid $6.3 million for a three-bedroom, 2,700-square-foot condo at 212 Fifth Avenue. The seller, an LLC.
92. A mixed-use building at 581 Second Avenue sold for $6.2 million. The buyer was an LLC managed by Edward Bergman and the seller was an LLC managed by Adam Mocio. The property has four stories, six apartments and ground-floor retail space.
93. A sponsor unit at 500 West 18th Street sold for just under $6 million. The buyer was an LLC led by Peter Spain. The two-and-a-half-bathroom unit is 2,200 square feet or $2,700 per square foot.
94. Ian Wace and Gioia Bini bought up a co-at 322 East 57th Street in Sutton Place for just under $6 million. The seller was Dorothy Berwin. The duplex has four bedrooms, a private elevator landing, and a curved staircase.
95. In Boerum Hill, a townhouse sold for $5.7 million. Sellers Ruth Schulder and Forrest Zlochiver. The buyers were Dr. Erez Nossek and Sharon Berger.
96. A sponsor unit at 53 West 53rd Street was sold to Mansion in NY Corporation, which paid $5.6 million for the pad. The 2,500-square-foot unit, has three bedrooms and three and a half baths.
97. An LLC tied to Angela and Joseph Ruggiero sold a four-family home at 29 Second Place. The buyer, an LLC, signed to Carrie Dionisio and paid $5.5 million.
98. Thompson, Stella Ogiale purchased a townhouse for $5.4 million. The seller of 217 West 15th Street was a trust tied to Claire Schiffman.
99. Brian and Cayla Davis sold a 3,200-square-foot four-bedroom unitfoot a co-op at 1220 Park Avenue for $5.5 million or $1,700 per square foot. The buyers were Willard Boothby and Alice Haven.
100. A trust tied to David Kim purchased a condominium at 322 West 57th Street for $5.8 million. The seller was an LLC managed by Soofian Zuberi.
101. Anne Patterson Finn sold a co-op at 40 West 77th Street for $5.2 million; The unit's new owners are Michael and Susan Beller. The co-op has four bedrooms and three bathrooms.
102. JAM Real Estate Partners paid $5.3 million for a 17-unit apartment building at 333 East 81st Street in Yorkville. The seller was Alvaro Jinete.
103. Robert Mitchell Theiss sold a co-op at 119 Waverly Place for $5.1 million. The buyers were Christine and Mark Fisher. The duplex has four bedrooms.

https://www.optimalspaces.com/november-2025-new-york-office-market-report/

Blackstone Sells South Florida Senior Facility for 75% Discount

 

BH Group and Gold Standard of Care acquired the 171-unit property in Aventura

Isaac Toledano’s BH Group and Gold Standard of Care paid $12 million for an assisted living community in Aventura, Fla., Commercial Observer has learned.

The deal represents a 75 percent discount for the seller, Blackstone, which purchased the 1.8-acre property for $48.9 million in 2017, according to property records.

https://commercialobserver.com/2025/11/blackstone-bh-group-gold-standard-of-care-sterling-aventura-florida-senior-housing/

Why real estate prices will surge despite Mamdani’s promises of affordability

 Contrary to mayor-elect Zohran Mamdani’s promise to bring the price of rent and real estate down, agents I’ve spoken with say they expect prices to soar in the coming years.

“Inventory pushes prices down so if Mamdani puts a stop to development, as he has promised, prices will go up,” one real estate source who spoke on the condition of anonymity told me. “We are also going to see a lot more foreign investment, particularly from the Middle East.”

That combination of more money chasing fewer apartments will result in higher prices, so much so that the source is advising clients to hang on to their properties, even if they’re fleeing the city — or at least considering doing so — in the wake of Tuesday’s elections. Many are concerned about rising antisemitism and Mamdani’s views on Israel.

While mayor-elect Zohran Mamdani had promised to bring the price of rent and real estate down, sources say prices are likely to go up.REUTERS

“Every Jewish client I have in New York is calling me, and my advice to them is hold tight,” the source said.

At the same time, restaurateurs, small business owners and executives tell me they see almost all investment halting in the short term.

One restaurant owner I spoke with — who had been planning to expand one of his Brooklyn locations to a larger space — said he isn’t making any moves right now.

“Nobody will touch NYC until we know how bad it is,” he said of Mamdani’s policies. “There will be a great pause on investment.”

Markets have taken a hit in part because of the malaise many in the world’s financial capital feel.Jimin Kim/SOPA Images/Shutterstock

Meanwhile, in the Financial District, markets have taken a hit in part because of the malaise many in the world’s financial capital feel.

“The Mamdani win is adding to Wall Street anxiety and certainly not helping the mood post elections and in the midst of a government shutdown,” Wedbush Securities analyst Dan Ives told me.

While it’s too soon to say definitively how Mamdani’s policies will reshape the city, business leaders will be watching closely to see whether the mayor-elect moderates his positions or follows through on his campaign promises.

The real estate source quipped, “Investment is pausing but New York has dealt with worse than a 34-year old TikToker.”

https://nypost.com/2025/11/06/business/why-real-estate-prices-will-surge-despite-mamdanis-promises-of-affordability/

Hawaii Has The Highest Homelessness Rate In America, Mississippi The Lowest

 There are around 772,000 homeless Americans (nearly 230 for ever 100,000 Americans), according to the last time a point-in-count assessment was done in 2024.

In this visualization, Visual Capitalist's Pallavi Rao, take a look at the highest homelessness rates by state, measured per 100,000 residents.

The data for this visualization comes from the U.S. Department of Housing and Urban Development, paired with 2024 population estimates from the U.S. Census Bureau.

⚠️ Caveats: Point-in-time counts were conducted in January, 2024 by local Continuums of Care (CoCs), with latitude in methodology. They risk undercounting unsheltered populations, people couch‑surfing, or those avoiding contact.

High Housing Costs & Homelessness

Hawaii tops the ranking with 805 people experiencing homelessness for every 100,000 residents.

This is more than three times the national average of 227.

Rank	State	State Code	Homelessness per 100,000 Residents	Overall Homeless Population
1	Hawaii	HI	805	11,637
2	District of Columbia	DC	800	5,616
3	New York	NY	795	158,019
4	Oregon	OR	535	22,875
5	Vermont	VT	533	3,458
6	California	CA	474	187,084
7	Massachusetts	MA	411	29,360
8	Washington	WA	396	31,554
9	Alaska	AK	363	2,686
10	Colorado	CO	314	18,715
11	Nevada	NV	309	10,106
12	Rhode Island	RI	220	2,442
13	New Mexico	NM	217	4,631
14	Illinois	IL	203	25,832
15	Arizona	AZ	194	14,737
16	Maine	ME	192	2,702
17	Montana	MT	177	2,008
18	New Hampshire	NH	159	2,245
19	Minnesota	MN	159	9,201
20	South Dakota	SD	145	1,338
21	Idaho	ID	137	2,750
22	Nebraska	NE	136	2,720
23	New Jersey	NJ	134	12,762
24	Florida	FL	134	31,362
25	Oklahoma	OK	133	5,467
26	Delaware	DE	129	1,358
27	Missouri	MO	117	7,312
28	Tennessee	TN	115	8,280
29	Kentucky	KY	114	5,231
30	Utah	UT	110	3,869
31	Georgia	GA	110	12,290
32	North Dakota	ND	109	865
33	Pennsylvania	PA	108	14,088
34	North Carolina	NC	105	11,626
35	West Virginia	WV	101	1,779
36	Ohio	OH	99	11,759
37	Maryland	MD	97	6,069
38	Michigan	MI	96	9,739
39	Kansas	KS	94	2,793
40	Connecticut	CT	93	3,410
41	Indiana	IN	91	6,285
42	Arkansas	AR	90	2,783
43	Texas	TX	89	27,987
44	Alabama	AL	89	4,601
45	Wyoming	WY	85	501
46	Wisconsin	WI	85	5,049
47	South Carolina	SC	84	4,593
48	Iowa	IA	81	2,631
49	Virginia	VA	81	7,141
50	Louisiana	LA	75	3,469
51	Mississippi	MS	35	1,041
N/A	U.S.	USA	227	771,480

Washington, D.C. is next at 800, reflecting the high cost of living and limited affordable housing in the nation’s capital.

New York ranks third at 795, driven largely by the concentrated shelter population in New York City.

Together, these three jurisdictions account for nearly 175,000 unhoused individuals.

 

West Coast Living Costs Pressures Push Numbers Higher

Four West Coast states—Oregon, California, Washington, and Alaska—sit firmly in the top 10.

Oregon’s rate has climbed to 535 amid rising rents in Portland, while California’s 187,000 unhoused people represent the largest absolute total in the country.

Seattle’s booming technology sector and limited housing supply help push Washington to nearly 400 per 100,000.

These states share a common thread: home prices that have consistently outpaced wage growth, leaving some residents on the brink of housing insecurity.

📊 Related: Look at the newest data around average house prices in each U.S. state.

Southern and Midwestern States See Lower Rates

At the opposite end of the spectrum, Southern and Midwestern states generally report far lower rates.

Mississippi posts the lowest figure—just 35 people per 100,000—followed by Louisiana (75) and Virginia (81).

Lower housing costs, sprawling land availability, and fewer large metro areas likely contribute to these lower rates, although undercounts in rural regions remain a challenge.

Even populous states such as Texas and Florida fall near the middle of the pack at 89 and 134 respectively, showing that population alone does not dictate homelessness levels.

Overall, the data underscore a powerful link between housing affordability and homelessness. States with soaring rents and tight markets consistently rank higher, while those with more modest housing costs tend to fare better.

For more related coverage, check out The World’s Most Unaffordable Housing Markets on Voronoi, the new app from Visual Capitalist.

https://www.zerohedge.com/personal-finance/hawaii-has-highest-homelessness-rate-america-mississippi-lowest

States Where Most Americans Need Housing Assistance

 Housing costs keep climbing faster than wages in many parts of the U.S., putting extra pressure on low-income renters.

This visualization, via Visual Capitalist's Pallavi Rao, maps all 50 states, the District of Columbia, and Puerto Rico by how many low-income renters receive federal housing assistance relative to their population.

Data is sourced from the U.S. Department of Housing and Urban Development’s Office of Policy Development and Research (HUD).

HUD’s 2024 estimates count more than 9 million Americans (27 per 1,000) currently receiving vouchers, public-housing units, or other subsidies.

Households typically pay 30% of their adjusted income (i.e. after taxes) as rent, and the government covers the rest.

Ranked: Americans Needing Rental Assistance, by State

D.C. stands out with 72 assisted renters per 1,000 residents.

That’s more than double the U.S. average of 27 and reflects both DC’s high housing costs, its population growth since 2000, and the limited growth in housing in the same time period.

Rank	State	Code	# of People on Housing Assistance (2024)	State Population	# of People on Housing Assistance per 1,000 Residents
1	District of Columbia	DC	50,389	702,250	72
2	Puerto Rico	PR	196,165	3,203,295	61
3	Rhode Island	RI	58,640	1,112,308	53
4	New York	NY	1,000,730	19,867,248	50
5	Massachusetts	MA	346,968	7,136,171	49
6	Connecticut	CT	148,989	3,675,069	41
7	Mississippi	MS	115,391	2,943,045	39
8	Louisiana	LA	178,836	4,597,740	39
9	Alabama	AL	175,759	5,157,699	34
10	Ohio	OH	392,408	11,883,304	33
11	Vermont	VT	21,313	648,493	33
12	Kentucky	KY	150,525	4,588,372	33
13	Hawaii	HI	47,342	1,446,146	33
14	Illinois	IL	392,302	12,710,158	31
15	New Jersey	NJ	289,801	9,500,851	31
16	Maryland	MD	187,764	6,263,220	30
17	West Virginia	WV	52,826	1,769,979	30
18	Maine	ME	41,698	1,405,012	30
19	Minnesota	MN	165,434	5,793,151	29
20	Pennsylvania	PA	366,433	13,078,751	28
21	Arkansas	AR	82,678	3,088,354	27
22	Tennessee	TN	193,490	7,227,750	27
23	North Dakota	ND	19,271	796,568	24
24	New Hampshire	NH	33,811	1,409,032	24
25	Michigan	MI	242,304	10,140,459	24
26	Missouri	MO	147,635	6,245,466	24
27	California	CA	918,612	39,431,263	23
28	Georgia	GA	259,256	11,180,878	23
29	Oklahoma	OK	92,093	4,095,393	22
30	South Carolina	SC	122,225	5,478,831	22
31	Nebraska	NE	44,628	2,005,465	22
32	Virginia	VA	194,664	8,811,195	22
33	Oregon	OR	93,896	4,272,371	22
34	Delaware	DE	22,865	1,051,917	22
35	South Dakota	SD	19,928	924,669	22
36	Washington	WA	170,021	7,958,180	21
37	North Carolina	NC	223,353	11,046,024	20
38	Indiana	IN	137,552	6,924,275	20
39	Wisconsin	WI	118,308	5,960,975	20
40	New Mexico	NM	40,853	2,130,256	19
41	Alaska	AK	14,146	740,133	19
42	Texas	TX	595,361	31,290,831	19
43	Colorado	CO	113,116	5,957,493	19
44	Iowa	IA	60,330	3,241,488	19
45	Montana	MT	20,172	1,137,233	18
46	Florida	FL	405,398	23,372,215	17
47	Kansas	KS	49,535	2,970,606	17
48	Nevada	NV	50,441	3,267,467	15
49	Wyoming	WY	8,663	587,618	15
50	Arizona	AZ	85,458	7,582,384	11
51	Idaho	ID	20,902	2,001,619	10
52	Utah	UT	32,862	3,503,613	9
N/A	U.S.	USA	9,039,779	340,110,988	27

Puerto Rico places second at 61 per 1,000—a legacy of limited job opportunities and post-hurricane rebuilding needs—while Rhode Island rounds out the top three at 53.

One study found that a minimum wage worker in Rhode Island must work an 85-hour workweek to afford a standard two-bedroom apartment.

ℹ️ Related: Puerto Rico also has the highest share of residents on welfare. Rhode Island is 10th and DC is 12th.

States With the Fewest Americans on Housing Assistance

Roughly half of U.S. states cluster between 20 and 30 assisted renters per 1,000 residents.

This middle group includes Midwestern states like Minnesota (29) and Michigan (24) as well as fast-growing Sun Belt hubs such as Georgia (23).

At the lower end, Western states Idaho (10) and Utah (9) report the fewest recipients per 1,000 residents. Part of that gap reflects younger demographics and higher home-ownership rates.

ℹ️ Related: Idaho ranks 16th and Utah 18th by home ownership rates, both higher than 70%.

But the eligibility to qualify for federal rental assistance varies by county and household size. Low numbers can also signal unmet needs or where waitlists run long.

Americans On Housing Assistance by Pure Numbers

When we shift from per-capita rates to raw counts, America’s largest states unsurprisingly dominate.

New York alone supports one million low-income renters, roughly equal to the combined totals of the bottom 10 states.

California follows closely with 919,000 recipients, reflecting the state’s chronic affordability crunch. Texas (595,000) and Florida (405,000) also rank high—even though their per-capita rates sit near the national average.

Wondering how much money the HUD is paying out on average per renter? Check out Where Rent Subsidies Are Highest, by U.S. State on Voronoi, the new app from Visual Capitalist.

https://www.zerohedge.com/political/these-are-states-where-most-americans-need-housing-assistance