Manhattan Rent Deals Help Landlords Hang On to Tenants—and Send New Leases Plummeting
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At the height of leasing season, New York apartment renters are staying put.
The number of new leases in Manhattan fell 17.5 percent from a year earlier in June, according to a report released Thursday by appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate. The decline -- to 5,447 deals, not including renewals -- is the biggest year-over-year drop for the month since 2009.