Manhattan, Brooklyn Rents Hit Record High This Month, New Report Finds
The median rental price in Manhattan hit a record high in February, according to a new report. The borough’s median rent soared to $4,500 in February, and rose 6.4 percent from last February, according to a Douglas Elliman report.
Manhattan Apartment Rents Jump to Record as Bidding Wars Spread
Manhattan apartment rents soared to a record high in February amid intense competition, including bidding wars in a more than a quarter of all deals.
Manhattan rents set a new record during normally quiet February
Apartment rents in Manhattan hit a new record high during the typically calm month of February, an ominous sign for how the rest of the year might shake out.
Affluent Renters Paid Record Prices for Manhattan Apartments in February
Manhattan’s luxury rents hit a record price per square in February. Last month, rents in the New York borough’s luxury sector—defined as the top 10% of the market—hit $104.86 per square foot, up 14.6% from last year and the highest it’s been on record, according to a report from Douglas Elliman on Thursday.
Manhattan rents reached a record high in February — and so have bidding wars for rental units
Winter in New York City often enjoys a cooler real estate market, but not this year. Renters in Manhattan were met with record-high rents in February, with a median rent of $4,500 — a 6.4% uptick from the same time last year.
February rents rise in Manhattan, hold steady in Brooklyn
Manhattan's median apartment rent surged 4% to $4,730, while Brooklyn's rent remained steady at $3,995. New data from Corcoran reveals a 16% decrease in Manhattan lease signings and a 9% drop in Brooklyn leasing activity.
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