The Real Estate Group of New York has released its October Manhattan rental market report. The upshot:
The already muted summer months led to speculation that this autumn may bring a delayed wave of new renters to the city and with them, sustained rental prices. While we continue to hold onto hope that this may be yet to come, the numbers this month indicate that this may not be the case.
Wistful. Rents, in general, were flat and vacancies were on the rise.
Curbed declares it a “dark winter for Manhattan rentals”–but maybe we should be careful before we freak out. Jonathan Miller may be an all-star, but some brokers at least doubt the impact of obsessive market reporting on their business.