Defeated by industry, criminal background check bill returns
Average rent for Manhattan apartments is on the rise, according to the Real Estate Group NY’s latest rental market report, which measures data mid-month, despite recent rental reports that reflected a flatter market. The January report, released today, shows that the average rent was up 7.8 percent compared to the same time a year ago, climbing to $3,332. Harlem proved to be the most affordable neighborhood covered in the report, which is based on data cross-sectioned from over 10,000 currently available listings located below 155th Street, with average rents as low as $1,348 for a non-doorman studio in the neighborhood. Soho clocked in with the priciest average rent, with $7,909 recorded for two-bedroom doorman units. TREGNY’s data contradicts two recent reports from Prudential Douglas Elliman and Citi Habitats. The first showed a 7.7 percent decline in average rents year-over-year in the fourth quarter, while the second showed a more modest growth than what TREGNY is reporting in the overall market. TRD
