Average Manhattan Apartment Rents Jumped 8% In Year

03/01/2011 02:31 pm ET | Updated May 25, 2011
  • 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%.

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