Manhattan rents tumble by the most in nearly 7 years even after landlords offer a ton of freebies
|04/14/2018||Posted by BusinessMediaguide.Com under General World News||
- Manhattan rents in March fell year-over-year by the most in nearly seven years, according to a report from Douglas Elliman Real Estate.
- This happened even as landlords continued to offer several concessions to get new leases.
Manhattan landlords seem to be running out of tricks.
They’re aggressively offering a month of free rent and other concessions to get new tenants. And yet, in March, Manhattan’s median rent including such discounts fell 3.2% year-over-year, making for the biggest drop in 6 1/2 years, according to a monthly report released Thursday by Douglas Elliman Real Estate.
Armed with more choices, apartment seekers are pushing back read more >>>