Manhattan apartment prices dropped in the first quarter as condominium sales plummeted and new- development deals made up the smallest share of the market in almost seven years.
Manhattan apartment rentals more than doubled in the second quarter from a year earlier as the city’s job market improved and tenants gained confidence.
Manhattan’s apartment market is heating up in the busiest season for moving, sending rents to a five-year high and shifting the advantage back to landlords after a brief respite for tenants.
"Most of the efforts that have been done on the state and local level have actually extended the crisis."
- Miller Samuel on Apr 26, 2012
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