Manhattan, Brooklyn rent prices dropped in August, reports say | am New York

It’s true! There are lots of new rental buildings coming on the market (mostly at the high end) and the rental season was a bit of a fizzle for landlords. As a result, rents have dropped a bit and landlords are more  negotiable than at any time in many years.

Important to keep in mind: RDNY.com has the largest inventory of No Fee apartment rentals in its history (Almost 6,000 rental apartments) AND we are passing on all landlord rental incentives directly to you on every listing. Search our No Broker Fee apartments at RDNY.com.

Rents in Manhattan appear to be making a slight turn to the cheaper side, according to real estate reports released Thursday.

Surveys issued by Douglas Elliman and Citi Habitats found that the average rents for all types of apartments in the borough last month when compared to August 2015.

“The simple fact is the rental market was overheated and due for a correction — nothing extreme, but enough to get landlords and would-be tenants back on the same page”.

Source: Manhattan, Brooklyn rent prices dropped in August, reports say | am New York

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Written by Lorenzo

Lorenzo has been hanging around the RDNY.com office for the past 20 years, and, in the process, has become the president of RDNY.com, Rent-Direct.com, and Acmelistings.com. His mission is to build RDNY.com into New York's largest no fee apartment rental service. Before RDNY.com, Lorenzo was a Regional Sales Manager for Time Equities, Inc., one of New York's largest converters of rental buildings to coops and condos. Lorenzo was once a part owner of Swift & Watson Real Estate in NYC's Greenwich Village.

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