Rental concessions may be keeping vacancy rates low in Manhattan, but they aren’t preventing prices from slipping, according to a new report. The median monthly rental price for apartments in Manhattan dropped 1.5 percent year-over-year in February to $3,330, according to Douglas Elliman’s latest rental report for the borough. The vacancy rate last month was 2.29 percent, down from the same time last year when it was 2.44 percent. Meanwhile, the percentage of new rental […]
source https://therealdeal.com/2018/03/15/despite-concessions-manhattan-rents-continue-to-slide/
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