Average Manhattan Apartment Rents Jumped 8% In Year

Crain's New York Business:

The Manhattan residential rental market managed to weather the cold in February, according to a report released Tuesday.

Rents rose an average 8% last month, compared with the same time last year, and recorded small gains from January, adding 0.4%, according to the monthly Manhattan Rental Market Report by brokerage The Real Estate Group NY. Rents for studios in doorman buildings showed the sharpest increase from last year, rising 10.3%.

Read the whole story: Crain's New York Business

Comments

[BrodskyOrg]

04:17 PM on 04/05/2011

It's a good sign to see that, despite sleet, snow, wind and rain, the Manhattan rental market is still prospering. This is not only a positive sign for the local economy, but for markets throughout the nation as well.