Manhattan Rents Reach Record High With Busy Season Yet to Come
Median on new leases rose to $4,175 in March, even as apartment hunters got more listings to choose from.
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Manhattan apartment landlords are testing renters’ limits even before the market’s busiest season arrives.
The median monthly rate rose to a record-high $4,175 in March, according to a report Thursday by appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate. That’s up $25 from the previous peak, reached in July, and almost 13% more than a year ago.