Posted by Jonathan J. Miller -Thursday, July 8, 2010, 12:34 AM
Here’s an excerpt from the report:
The second quarter average rental price of a Manhattan apartment fell 3.3% to $3,710 per month from $3,839 in the same period last year. The decline was largely caused by the drop in the average size of a rental apartment to 898 square feet from 1,043 square feet over the same period. As a result, rental price per square foot increased 12.3% to $49.60 from $44.16 reflecting the higher price per square foot skew seen in smaller apartments.
Other reports we prepare can be found here.