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Manhattan apartment owners prop up market with incentives

One month's free rent and payment of broker fees part of effort to keep up appearance of rents being at a higher level

New York

MANHATTAN apartment landlords are offering potential tenants more perks to avoid cutting rents further in a softening market.

Incentives, such as a month's free rent or payment of broker fees, were given on 25 per cent of new leases last month, up from 14 per cent a year

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