Manhattan residential rents up 8 percent over last year: report

The average Manhattan rent remained relatively stable last month, while showing marked improvement over 2010, according to the Real Estate Group NY’s residential rental market report released today. The report, which tracks data from mid-month to mid-month, shows that average rent was up just .4 percent from mid-January, but up 8.01 percent from the same time a year earlier. Two-bedroom doorman units in Soho boasted the priciest average rent — $8,130 a month — while non-doorman Harlem studios had the cheapest, at $1,452. A recent report from Citi Habitats had similar findings — that report also shows the average rent was up roughly 8 percent year-over-year. TREGNY bases its report on a cross-section of 10,000 available listings beneath 155th Street, priced under $10,000 a month. TRD

Market Report Feb 11