FiDi/Battery Park Real Estate Market Snapshot
The stock exchange is not the only place in the Financial District where deals are being made. During the first seven months of 2022, 254 residential deals closed in FiDi, and another 100 were completed in neighboring Battery Park.
About half of all the deals—51% of those in FiDi and 49% of those in Battery Park—closed at less than $1 million. Another 38% of those in FiDi and 39% in Battery Park fell in the $1 million-$3 million price range. In FiDi only 3% of the properties cost more than $8 million, while none of those in Battery Park did.
More listings in both areas were currently on the market as of July 2022: 285 in FiDi and 115 in Battery Park. The plurality of properties in both neighborhoods—47% in FiDi and 44% in Battery Park—were priced at $1 million-$3 million. In FiDi, 36% had an asking price of less than a million, as did 39% of those in Battery Park.
Of the 252 area rentals on the market as of July 2022, 214, or 85%, were in the Financial District. Of the 252 rental listings, none fell under $2,500/month. Six percent cost $2,500-$3,500/month, 36% were priced at $3,500-$5,000/month, and 42% fell in the $5,000-$9,000/month range, with another 15% costing more than $9,000/month.
In terms of rent by number of rooms, studios had a median asking price of $4,038/month, with one-bedroom units going for a median of $4,874/month and two-bedroom units $7,710/month. For three-bedroom units the median requested rent was $12,247/month, and that for properties with at least four bedrooms fell just shy of $20,000/month.
Viewed by type of rental, condos had the lowest median price at $5,400/month, with co-ops at $5,990/month and townhouses at $9,297/month.
Data Source: Perchwell