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 over 400 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 shuffling of this year’s top New York City landlords list compared to 2022. TF Cornerstone maintained the top spot while Beam Living and Related Companies joined the list for the first time, bumping Avalon & Ogden from the top 5. Last year’s rankings were:
- TF Cornerstone
- Glenwood Management
- Columbia University
- Avalon
- Ogden
NYC Highest-Performing Residential Portfolios 2023
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 the Financial District, 2 Gold Street. The 650 unit building boasts a recommendation rate of 100%, and tenants appreciate management’s responsiveness and the building’s pool and rooftop. A downside? Tenants say the elevators can be slow and crowded.
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, 320 East 46th Street, boasts a 100% recommendation rate, and tenants are happy with the friendly and responsive staff. Complaints? Tenants would like to see the rooftop furniture updated!
3) Beam Living
Beam Living is a Blackstone-owned management company responsible for overseeing 5 complexes/buildings in NYC, including 8 Spruce Street and Stuytown. Stuytown renters are pleased with the management’s responsiveness and the peacefulness of the area.
4) Related Companies
Related is one of the largest property owners in NYC, spanning thousands of units. One of their addresses, 450 West 42nd Street, boasts a 100% recommendation rate, and tenants are happy with the upkeep of the building. Complaints? Tenants would prefer if amenity-access was included in the rent.
5) 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 at 400 West 119th Street, mostly students, are pleased with affordability and management’s flexibility with lease terms.
Renting in New York can be difficult. Navigating the rental process and finding a spot is no easy task. While it’s important to keep in mind that no building or owner can be perfect – it’s important to get all the info you can to make the best decision for you. Browse well-reviewed listings on openigloo, and find your next spot!