The wealth of Manhattan real estate comes with a wealth of Manhattan real estate reports. Reports from the most recent quarter showed activity in the market, but at slower rates than the previous quarter and last year, and with pricier trends. So indeed, that chorus of renters' sighs heard around the city this past Friday came from a usual suspect: the rental market report.
Manhattan rental market reports show rents going up in the third quarter this year, while the number of new luxury Manhattan rentals continues to fall. They also indicate that NYC landlords are taking the glitter-out-of-the-envelope in terms of concessions. And as rent goes rises across the board, The New York Times reports that many tired Manhattan tenants with end-of-the-run leases have received stark demands for higher rent, and are consequently shopping around for more affordable options.