New York City is ramping up after two years of pandemic concerns. Broadway is back, and subway ridership is up. One area that took a hit — its hyper-competitive real-estate market — is changing, too.
As of January 2022, rental inventory across New York City is the lowest in eight years. In 2020, there were 128,167 apartments available for rent during the fourth quarter, compared to 60,966 in 2021, according to StreetEasy. But as the market bounces back, even partially, sales prices are approaching pre-pandemic rates.
StreetEasy is debuting a new out-of-home ad campaign, “Win The Game of Real Estate,” positioned to help New Yorkers score at real estate — buy, sell or rent.
Austin, Texas, creative agency Preacher created the work that runs on Big Apple buses, subways, wild postings, wallscapes, taxis and billboards through October.
The “Win” aim is streamline the often-complicated real-estate process, using the company’s StreetEasy Valuation, a tool that calculates a property’s current market value, and listing an apartment's must-have amenities. It also pushes its experts network.
Preacher teamed with artist John Contino, founder of the Contino agency, to make the ads visually arresting. Contino’s hand-drawn style is reminiscent of classic board games. The Contino agency handles an array of work – from product design to branding to ad campaigns. Clients have included Nike and Hulu.
Nicole Savdie, director of marketing at StreetEasy, says: “New Yorkers want more ways to get a leg up in finding the right apartment and getting to move-in day. “Win The Game of Real Estate” highlights all the ways StreetEasy can help them navigate the journey.”
And that journey is pricey.
Before the pandemic, the median-asking rent citywide in the summer of 2019 was an estimated $2,850 — $150 more per month than in January 2022, per StreetEasy. However, in specific areas, such as downtown Manhattan, which includes the Flatiron, West Village and Battery Park City neighborhoods, median-asking rents grew by 40% year-over-year to $4,200 — $300 more than their pre-pandemic high in October 2019.
“Win The Game of Real Estate” marks StreetEasy’s seventh campaign since its advertising debut in 2015, with “Live As You Please.” That was followed by “Find Your Formula,” 2016, “Find Your Place” campaigns, 2017 and 2018, “There's Only One City,” 2019, and "It’s Okay to Look,” 2020.