Equity Residential New York's Strong Presence in NYC

Equity Residential New York has a strong presence in NYC, with a portfolio of over 100 properties across the city.

The company owns a significant number of apartments in Manhattan, with many of its properties located in prime neighborhoods like the Upper East Side and Greenwich Village.

Equity Residential New York has a deep understanding of the NYC rental market, which allows it to provide high-quality apartments to its residents.

With a strong focus on customer service, Equity Residential New York is committed to making its residents feel at home in the city.

New York is a top performer for Equity Residential, with same-store revenue growth of over 19% in the first quarter. This outperformance is consistent across all submarkets, thanks to very limited and isolated supply.

Occupancy in New York is currently at 97.5%, and all demand indicators are flashing green, making it the expected top performer for the year. This is a great sign for the market, as it shows that there's a strong demand for housing.

The strong performance in New York is also reflected in the company's financial results, with property revenues increasing by 9.2% year-over-year.

New York is leading the way for Equity Residential, with same-store revenue growth of over 19% in the first quarter.

The city's strong performance is largely due to its limited and isolated supply, with occupancy currently at 97.5%. This has made it the top performer for the year.

The demand indicators in New York are all flashing green, indicating a strong market.

A significant factor in New York's success is the expiration of eviction moratoriums, which has led to a 6% same-store revenue growth in Los Angeles.

However, it's worth noting that the eviction moratoriums have put pressure on physical occupancy in Los Angeles, but this is expected to benefit EQR's financial results later in the year.

Here's a breakdown of the key statistics for New York:

A&E Real Estate has made its second big buy on the Upper West Side, snapping up 160 Riverside Blvd. for a whopping $415 million. This deal was arranged by a CBRE team led by Darcy Stacom, chairman of NYC Capital Markets.

The property joins its sister building, 140 Riverside Blvd., which A&E acquired in April for $266 million. Both properties are high-quality apartment towers that A&E is eager to own.

A&E's confidence in New York City's multifamily sector never wavered, even during the pandemic. Their strategy has allowed them to significantly expand and diversify their New York City portfolio, especially in core Manhattan neighborhoods.