Manhattan apartment rents rise as New Yorkers delay home purchases
Douglas Elliman Real Estate | August 15, 2019
The median rent for a Manhattan apartment rose to $3,595 in July, a 5.7% gain from a year earlier, and reached a new high of $3,000 in Brooklyn, up 1.7%, as potential homebuyers waited to see what effect the state’s “mansion tax” would have on New York’s real estate. The number of new leases in Manhattan increased 5.1% to 6,460 and gained 13% to 1,759 in Brooklyn, according to the report by Miller Samuel and Douglas Elliman Real Estate.