This month marks the three-year anniversary of the Lehman Brother’s collapse, September monthly rental reports for Manhattan and Brooklyn, released today by MNS, note. Rents in neighborhoods such as Tribeca, Soho and Greenwich Village have fared best during the recovery, mostly maintaining their values, the report shows, increasing by around 13 percent from 2008.
As for month-over-month increases, the report indicates a small degree of positive growth.
“As predicted, this September brought nominal growth in average rental prices compared to August, but the rental market in both Manhattan and Brooklyn continues to be strong,” said Andrew Barrocas, CEO of MNS.
Rents increased 1.3 percent for Manhattan one-bedrooms on a month-over-month basis, 1.6 percent for two-bedrooms, but decreased by 2.7 percent for studios. Prices are up in Manhattan 0.8 percent overall compared to August, with 0.2 percent in non-doorman units and a slight decrease of 0.04 percent in doorman properties. – Katherine Clarke… [more]