Manhattan’s improving rental market, soaring home prices in the Bronx and more of the biggest trends in resi right now

Manhattan’s rental market improves The luxury sales slump continues to be a silver lining for Manhattan’s rental market. Rents rose in February as would-be buyers took refuge in rentals, according to a Douglas Elliman report. The median net effective rent rose 4.1 percent year-over-year, to $3,297, the second straight monthly increase in Manhattan. The share of new leases with concessions was 41.6 percent, compared to 47.6 percent a year earlier. “The rental market is turning, […]

from The Real Deal New York

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