Residential rents shift slightly in April

Manhattan rents changed slightly between March and April, according to the April rental market analysis released today by brokerage Citi Habitats. Studio apartment rents held steady at an average of $1,774. One-bedroom rents fell slightly to $2,434 from $2,443, and two-bedroom rents dipped to $3,460 from $3,551. Rents for three-bedrooms rose to $4,607 from $4,594. The overall vacancy rate fell to 2.28 percent from 2.37 in March. Midtown East had the highest vacancy rate, at 2.7 percent, of the 11 neighborhoods included in the report, while the Soho/Tribeca area had the lowest, at 1.78 percent. TRD

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