Manhattan apartment rents rise as New Yorkers delay home purchases

Manhattan apartment rents rise as New Yorkers delay home purchases
The median rent for a Manhattan apartment rose to $3,595 in July, a 5.7% gain from a year earlier, and reached a new high of $3,000 in Brooklyn, up 1.7%, as potential homebuyers waited to see what effect the state’s “mansion tax” would have on New York’s real estate. “This is partly a result of the ongoing uncertainty in the sales market, with potential buyers still camping out,” said Hal Gavzie, executive manager of leasing for Douglas Elliman.
Source: https://www.housingwire.com/rss