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Manhattan Rents on Target to Hit Record Highs in 2011

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Manhattan rents are likely to hit record highs in 2011.

Manhattan rents are likely to hit record highs in 2011.

NEW YORK — The average rent for a Manhattan apartment will rise 5.7 percent to $3,790 per month in 2011, a new study cited by The Real Deal says.

The upward pricing pressures come as companies add workers to their payrolls at the highest rate in a decade, according to the report released today by Marcus & Millichap.

On another note, the New York State Assembly advanced a bill to extend current rent regulations through 2016. They had been set to expire June 15.

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Written by Bruno

2011.05.04 at 16:39

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