Apartment Rentals in New York City – what you need to know.
Many New Yorkers looking for a real-estate deal may reflexively scratch Manhattan off their list. Well, think again. Maybe you can take Manhattan.
Bargains are drying up for Manhattan apartment renters – reflective of a broader trend in the other four boroughs as well.
Manhattan’s vacancy rate fell again in May, dipping below 1% for the first time in nearly three years, leaving little supply available during the peak leasing season. That’s quite the turnaround from a year or two ago, when apartments were plentiful and desperate landlords coughed up free rent and paid the broker fee–typically a month of rent–to fill units.