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450 West 31st Street, New York, NY 10001 Phone: 212-260-1332
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. click hereOk, Got it
Privacy & Cookies Policy
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This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
450 West 31st Street, New York, NY 10001 Phone: 212-260-1332
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. click hereOk, Got it
Privacy & Cookies Policy
Privacy Overview
This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
(iStock/Illustration by Alexis Manrodt for The Real Deal)
A year into the pandemic, New York renters are taking advantage of falling prices, high vacancy rates and a massive number of apartments on the market.
Leasing in Manhattan and Brooklyn last month was at the highest level in 13 years, according to Douglas Elliman’s monthly rental market report. Some version of that story has been playing out every month since October as rents continue to slide and thousands of apartments remain on the market.
Appraiser Jonathan Miller, who’s behind the report, noted the trend is particularly pronounced in Manhattan where 6,561 deals were inked last month compared to 3,089 in February 2020 the largest year-over-year gain of any period since 2011.
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