Real Estate
Manhattan Apartment Rents Climb During Busy February for Leasing
- Lease signings jump in Manhattan, Brooklyn and part of Queens
- Strong economy has boosted New York City’s rental market
Nearly 4,350 leases were signed in Manhattan in February, a 7.7% increase from a year earlier.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
Manhattan apartment rents rose in February as a strong economy and tough sales market translated into a busy month for leasing.
The median rent on new leases signed last month was $4,230, up 3.3% from a year earlier, according to appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate. The monthly figure is below a record $4,400 reached last summer.