The cost of renting has dipped across Manhattan, as landlords offer to cover broker fees, according to The Real Estate Group’s August Manhattan Rental Market Report. In SoHo, a one-bedroom in a building with no doorman rents for an average of $3,400, down from $3,800. Greenwich rentals have also fallen. The Real Estate Group’s C.O.O. Daniel Baum says that vacancies are higher than expected because landlords raised rents too much. more [NYO]
Rents dip in Manhattan
August 21, 2007 12:00AM
