Manhattan apartment vacancy smashes 5% barrier

Are there 15,000 people who want to live in Manhattan? Another historic surge in the borough’s empty apartments last month underscores the troubles facing landlords across the city. Manhattan’s vacancy rate climbed to 5.1 percent in August, according to Douglas Elliman’s monthly rental report produced by Miller Samuel Real Estate Appraisers & Consultants. It’s the first time Manhattan vacancy has reached this level in the 14 years that Miller Samuel has tracked its rental market,

source https://therealdeal.com/2020/09/10/manhattan-apartment-vacancy-smashes-5-barrier/