Renters in NYC have gotten used to the worst landlord list released by the Office of the New York City Public Advocate every year. By analyzing city data, the Public Advocate presents a list of buildings and landlords with a reputation for having unaddressed violations.
At openigloo, a marketplace to help renters find quality apartments, we have performed a similar analysis to identify the city’s highest-performing residential portfolios. Our platform presents city data and crowdsourced tenant reviews on every address in NYC. Renters rate their buildings on a scale from 1-5 in categories such as cleanliness, heat, owner responsiveness, and garbage management. They share whether they received their security deposit back, if they would recommend their building to a friend, and how much their rent went up. In doing so, we have identified the landlords that garner the highest building ratings and recommendation rates.
We studied 250 residential portfolios with at least 500 units to develop this list. To qualify for the list, portfolios had to score in the 90th percentile for building ratings, recommendation rates, and city violations per unit. The following 5 landlords have an average building rating of at least 4.3 out of 5 (the city-wide average rating is 3.3). Additionally, 80% or more of tenants from the following buildings recommend their buildings to a friend (the city-wide average is 46%). And lastly, the following buildings all have violation per-unit ratios of less than 0.03 (the city-wide average is 0.68).
There was some shuffle of this year’s list compared to 2021. TF Cornerstone took the top spot replacing Ogden Cap Properties at the list’s leader. Earlier, last year’s rankings were:
- TF Cornerstone
- Columbia University
- Rudin Management
NYC Highest-Performing Residential Portfolios 2022
1) TF Cornerstone
TF Cornerstone owns and manages about 18 residential buildings spanning 7500+ apartments in Manhattan, Brooklyn & Queens. One of the highest rated buildings on openigloo is one of their buildings in Long Island City, 46-15 Center Boulevard. The 363 unit building boasts a recommendation rate of 100%, and tenants appreciate management’s responsiveness. An area for progress? Tenants want to see amenity fees reduced or waived, given the high rents.
2) Glenwood Management
Glenwood is the developer, owner, and manager of roughly 27 multi-family properties in Manhattan, covering 8000+ units. One of their addresses, 1675 York Avenue, boasts high ratings, and tenants are happy with the friendly and careful staff. Complaints? Tenants would like to see the shared laundry machines cleaned and maintained more often.
3) Columbia University
Columbia University is the largest owner in New York City by the number of locations and manages over 5000 apartments across 150 residential buildings. Renters of the buildings, mostly students, are pleased with the management’s affordability and attention.
4) AvalonBay Communities
AvalonBay Communities develops, owns, and manages rental apartment buildings across the United States. In NYC they are responsible for over a dozen properties spanning 3500+ units. One of their highest rated buildings on openigloo is 343 Gold Street in Brooklyn. The 631 unit building boasts a recommendation rate of 95%, and tenants appreciate the sense of community. Areas for improvement? Some tenants requested outdoor window cleanings and additional bike storage.
5) Ogden Cap Properties
Ogden owns and manages 5 residential properties with a total of 3,416 units in Manhattan. One of their addresses, 155 East 31st Street boasts high ratings and tenants are happy with the building’s cleanliness and upkeep. Complaints? Many tenants expressed frustration about strict amenity policies, like being charged $20 to bring a guest to the roof.
Renting in New York can be difficult. Navigating the rental process and finding a spot that is appropriate is no easy task for renters. It’s important to keep in mind that no building or owner can be perfect – openigloo users have always shared positive experiences about the previous landlords and their properties. With more transparency, tenants can find buildings and apartments better suited to their preferences, lifestyle, and budget.