New theory: As the stock market continues to go down, down, down, Manhattan’s apartment vacancy rate will go up, up, up. Back in August, before Lehman Brothers imploded, the vacancy rate was 1.39 percent in Manhattan, according to statistics from Citi Habitats. Their February report, available here (PDF), indicates a 2.46 percent vacancy Read More
The seemingly irreversible slide in Manhattan rents continued into January, according to a report (PDF) released today by Citi Habitats. Rents flopped almost across the board from December, with the exception of two-bedroom apartments, which saw an insignificant $4 increase on average.
The year-over-year decline in average rents is much more pronounced, with Read More
Citi Habitats released its November rental market report today (PDF here), showing a continued rise in vacancy rates across all Manhattan neighborhoods, and, while rents continue to soften, there hasn’t been a very significant decline.
In October, the Financial District/Battery Park City was the only area to report a vacancy rate Read More
