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New York

The coming (but temporary) Manhattan rental “boom”

Number of new rental units to debut will pop in 2015 and 2016 and then turn sharply down

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From the February issue:  With new rental projects becoming harder and harder for developers to pencil out in Manhattan as the price of land and construction rises, it would make sense to assume that rental inventory would be shrinking. In reality, new rental inventory is expected to grow over the next two years, but the trend is not forecast to last much beyond that time frame. [more]