GREYSTAR NORTHEAST - MARKET PULSE
MAY 2024
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Dear Valued Client,
We are pleased to present the May edition of our Northeast Market Pulse. In this newsletter, you will find a comprehensive compilation of market data specific to our Northeast Division. This includes current offerings, pertinent market news, and insightful Greystar market trends.
Should you require further assistance or have any inquiries regarding your investment endeavors, please reach out to us.
Best Regards,
Greystar Client Services
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Deal Sheet
Click the map for interactive details, and download the PDF below
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Mid-Atlantic
DC, MD, VA
Maryland Lawmakers Approve Pimlico Overhaul, Port Relief, and Housing Bills
Bisnow.com, April 9th, 2024
Union Market Apartment Building to be Auctioned off a Year After Opening
Bisnow.com, April 19th, 2024
Multifamily Trends, Pipelines and Overlooked Markets: What Should Investors be Watching?
Bisnow.com, April 19th, 2024
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Market Analysis
A Spotlight on Lease Trade Out and Occupancy
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For May, we are spotlighting the Lease Trade Out and Occupancy rates for each of the geographic regions in our Northeast Division. These metrics underscore the strength and resilience of Greystar-managed assets throughout the Northeast Division, reflecting strong occupancy and trade out. | |
In our New England region, we observe a trailing 12-month average occupancy rate of 93.7%, representing a 1.5% increase over last year. Additionally, New England demonstrates a solid 4.5% lease trade-out. | |
For New York, we show an average occupancy for the trailing 12 period of 94.6%. Since August of 2023, we have grown our regional occupancy from 92.3% to an impressive 96.2%. New York also shows a steady 5.3% lease trade-out. | |
In the New Jersey/Pennsylvania region, the average trailing 12-month occupancy is steady at 93.8% with occupancy remaining relatively stable year-over-year. This region also has a strong lease trade-out of 5.3%. | |
In our Mid-Atlantic region, we see an average occupancy rate of 93.2% in the trailing 12-month period, with occupancy remaining relatively stable year-over-year. The Mid-Atlantic boasts a 4.5% lease trade-out. | |
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