Manhattan Rental Reports: More of the Same

Prudential Douglas Elliman released its fourth-quarter rental reports today, and anyone expecting dramatic developments is probably going to be disappointed.

While the number of rentals “surged” 47.5 percent from the prior year quarter, rents fell somewhat overall. As Curbed notes, big apartments and those uptown were hardest hit, but the average one-bedroom is still more than $3,000.

Quoth Observer real estate editor Tom Acitelli: “So much for change we can believe in.”

Manhattan Rental Reports: More of the Same