Thanks to a glut of inventory, don’t expect to see big shifts in Manhattan’s rental market anytime soon. Coming out of peak season, rampant concessions are here to stay, said Hal Gavzie, executive manager of leasing at Douglas Elliman. “I don’t see that changing any time soon,” he said. “The entire market is still fueled by the amount of inventory.” In October, the share of rental transactions with concessions was 41 percent, up from 28 […]
source https://therealdeal.com/2018/11/08/manhattans-rental-market-is-in-a-holding-pattern/
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