Manhattan’s vacancy rate and rents in several neighborhoods fell slightly in May, according to a monthly rental market analysis from Citi Habitats released today (see below for full report). The overall vacancy rate in Manhattan fell to 1.72 percent in May from 2.28 percent in April, the first time since October that the vacancy rate has been below 2 percent. Rents also dropped slightly for one- and two-bedrooms, falling to $2,426 from $2,434 for one-bedrooms and to $3,444 from $3,460 for two-bedrooms. Rents for three-bedrooms increased slightly, to $4,657 from $4,607. TRD
Press Release-May Rental Market Prices Unchanged, Vacancies Dip(2)
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