Here’s to a generous holiday bonus this year! Manhattan’s median rental price jumped another 4.5 percent in October, to $3,391 – achieving a nearly two-year streak of steadily rising prices.
With price gains over 21 consecutive months, the number of new rentals slipped 0.4 percent to 3,469, according to Douglas Elliman’s monthly rental report. Manhattan’s vacancy rate increased to 2.34 percent from 1.96 percent last year. [more]