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Manhattan Rents Drop for Fifth Straight Month

By John Bailo follow John Bailo   2014 Feb 13, 3:20am 395 views   0 comments   watch   nsfw   quote   share    

The median rental price slipped 1.1 percent year-over-year to $3,114 in January, according to the latest report from Miller Samuel prepared for the Douglas Elliman, the brokerage.

Although rental price declines remained small, they've been dropping since last September. On the other hand, incentives from landlords -- one month of free rent or its equivalent -- increased to a 13.1 percent market share from five percent in the same period last year.


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