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Posted: September 24, 2012
MNS releases the August 2012 Manhattan Rental Report
Some highlights of the Manhattan report include the following:
East Side Inventory Down: A recent influx of renters to the Upper East Side, Lower East Side and East Village accounted for 60% of August's decrease in rental inventory.
Rise of the Two-Bedroom: Since 2009, two-bedroom units have incurred the highest increase in rental rates - non-doorman units up $839 and doorman units up $896.
Doorman Dilemma: If you prefer having a doorman but opted to skip the extra cost, think again. Month-over-month, the greatest increase in rates across all unit types occurred in non-doorman apartments, with Greenwich Village studios up 7.4%, Midtown East one-bedrooms up 6.7%, and Gramercy two-bedrooms up 5.1%.
Tribeca Still Trendy: This neighborhood saw the largest monthly rental increase, with non-doorman studio apartments now an average of $4,133 per month. This is a steep $285 increase from July, and $340 from August 2011.
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