Pursuits
Rents for No-Doorman Apartments in Manhattan Reach a Record
- Tight supply of no-frills units pushes costs up 5.8% to $2,995
- Rents at doorman buildings fall 3.1% to median of $3,758
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Manhattan apartment rents are on the decline -- unless you’re living in a no-frills building without a doorman. For those units, rents just hit a record.
While new luxury apartments with doormen -- and other extras, like pools and gyms -- are proliferating and landlords are cutting deals to get them filled, renters who seek more affordable havens have been driving up demand for older, basic units, for which the supply is more fixed.