New development lease-ups
Absorption against a date the lender already picked.
Pear NYC runs lease-ups for New York City new development. On a lease-up only one number really matters, and it is the stabilization date. We plan absorption backwards from your covenant, price by unit line, and staff the building so the pace holds through the difficult middle third rather than only the launch.
What's actually at stake
You are launching into the largest supply wave since 1965
New York City completed 38,691 units in new buildings in 2025, the highest total since 1965, with 421-a certifications up 35.5% and permits up 15.3%. That is a lot of shiny lobbies competing for the same renter in the same six-month window.
The market underneath is genuinely strong — Manhattan and Brooklyn rents both set records in June 2026 and days on market fell about 30% year over year. But concessions tell the more honest story about lease-ups specifically: in January 2026, 13.7% of Manhattan new leases carried a concession, 15.6% in Brooklyn and 17.7% in northwest Queens, at around one month free.
Which means the real decision is not whether to concede. It is whether you concede early and cheaply on your own terms, or late and expensively because absorption slipped and the covenant date is close. That decision gets made in week six, and it gets made well only if someone is tracking the pace honestly from week one.
What we do for you
Specifically, for new development lease-ups
Pricing and unit mix consulted before you finish
Line-by-line pricing against the live comp set, and an honest view on which layouts and amenities are earning their cost in your submarket. Cheaper to hear at framing than at TCO.
An absorption plan backed out from your date
Units per week required to hit stabilization, tracked against actual, with the concession decision modeled in advance rather than improvised in month three.
Creative that does not look like every other lease-up
Photography, film, floor plans and a building identity. We produce video constantly for our own channels — 1,281 posts and an audience of 9,600+ NYC renters — and that muscle transfers directly to a launch.
On-site leasing when the building warrants it
A staffed office with weekend coverage for the launch window, scaling down as absorption completes. Renters who can walk in and see a unit today convert far better than renters who book for Thursday.
Weekly absorption reporting for you and your lender
Traffic, tours, applications, signed leases, net effective rent by line, and pace against plan. Formatted so it can go straight into a lender update without being rewritten.
FARE Act compliance across every unit from day one
Compliant listing disclosures, itemized fee disclosures signed and retained on all leases. On a 120-unit lease-up a systematic disclosure error is not one violation, it is a pattern.
Straight answers
Questions we get from new development lease-ups
How long should a NYC lease-up take?
It depends on unit count, submarket and price positioning, but the useful way to frame it is units per week. A 100-unit building needing stabilization in eight months has to average roughly three signed leases a week including the slow winter stretch. If your plan does not survive being written that way, the plan is the problem, not the market.
Should we offer concessions or lower the asking rent?
For a lease-up, concessions usually beat headline cuts, because the face rent sets your comp for renewals and your valuation, and a month free is easier to withdraw than a rent reduction is to reverse. About 13.7% of Manhattan and 15.6% of Brooklyn new leases carried a concession in January 2026 at roughly one month, so it is the market norm rather than a signal of distress. The mistake is conceding late and deeply instead of early and precisely.
Can you staff an on-site leasing office?
Yes, for buildings where the traffic justifies it — generally from around 40 units, or fewer if the location generates walk-ins. We staff weekends during the launch window, because that is when renters tour, and taper as absorption completes.
When should we bring in a leasing team?
Earlier than most sponsors do. Pricing and unit-mix input is worth most before you are committed to a layout, and pre-marketing should start roughly 90 days ahead of first occupancy so there is a waitlist on day one rather than an empty pipeline. Bringing a team in at TCO means the first six weeks are spent building demand you could already have had.
Do you work on condo sales as well as rentals?
Our depth is rental leasing and lease-up absorption in Brooklyn, Manhattan, Queens and the Bronx. If your project is a condo sell-out we are not the right firm and we will say so rather than take the mandate.
Next step
Tell us about the project
Unit count, submarket, expected TCO and the date you need to hit. We will come back with an absorption plan and a view on pricing before you commit to anything.