Lowest in Nine Years

Heads Up, Roosevelt Island: Rents Are Crashing

"A record high share of rent cuts contributed to a Manhattan median asking rent of $2,990 in the third quarter of 2020 — the first time this figure has been below $3,000 in nine years." PR Newswire

In a report that should perk up local residents, PR Newswire says that Manhattan rental inventory jumped by nearly 70% in the third quarter, with 30,000 more apartments looking for tenants than a year ago, prior to the coronavirus crisis.

The statistics come from StreetEasy's realtime experience, and you can read the full story here.

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