The median apartment rent in Manhattan jumped 4 percent in February from the month before, to $4,730 per month, according to new data from brokerage firm Corcoran.
Meanwhile, the median rent in Brooklyn remained flat last month from January, at $3,995.
In Manhattan, there were 16 percent fewer lease signings in February compared to January. But the firm noted that while the winter usually sees a drop in activity, this was the largest monthly decline since September 2022.
As for Brooklyn, leasing activity fell 9 percent month over month – the lowest level for February in nearly a decade.
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