Median rent for new development units drops 8% in April

According to the most recent market reports, concessions are up and rent is down across most metrics in Manhattan. Overall, median rent fell 1.8 percent in Manhattan, dragged down by softness in the top 10 percent and in new development units, which fell 7.8 percent in April compared to the same month last year, according […]

Scorecard: A rise in vacancy rates also allows for a “vacancy bonus”

From the June issue: In a potentially troubling new reality for landlords, the vacancy rate at Manhattan rental apartments has been trending up. According to data from market analyst Jonathan Miller, April’s 2.3 percent rate was the highest for that month since he began tracking the metric in 2007. But some say the increase won’t necessarily […]