Reposted by Myra Batchelder
".. Manhattan rents surged to the highest level on record" -- on a "historic collapse in available listings." Median rent on new leases hit $5,000, up 6.4% from a year earlier.
@bloomberg.com #NYC
www.bloomberg.com/news/article...
bloomberg.com
Manhattan Rents Hit $5,000 Record While Listings All But Vanish
Manhattan rents surged to the highest level on record in July as a historic collapse in available listings collided with the summer apartment hunt rush.