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Manhattan rents rise, thanks to a luxury market that’s softer than it appears

Manhattan rents rise, thanks to a luxury market that’s softer than it appears

The rental market in Manhattan has flat lined at an uneasy equilibrium, with rents largely unchanged year over year and concessions remaining at or near record highs. Median rent in November stood at $3,360 a month, a small increase from $3,350 in November 2016, according to a monthly rental report from Douglas Elliman. The average face rent, at $4,091, was just $4 lower than the figure recorded in November 2016. A closer look shows that […]


Source: realdeal

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