Manhattan Renters Trading Up Drive Big Gain in New Leasing
- February signings rose 112% in the city’s costliest borough
- Freebies remain near record levels and renters are taking them
Photographer: Michael Nagle/Bloomberg
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Manhattan apartment dwellers on the hunt for better digs drove a surge in leasing last month.
New lease signings in the city’s costliest borough jumped 112% in February from the same month last year, appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate said in a report Thursday. That’s the biggest monthly gain since April 2011.