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Landlord sees 'pain' for NYC apartments over surge in supply
Published Wed, Oct 26, 2016 · 09:50 PM
New York
APARTMENT landlord AvalonBay Communities said it expects continued weakness in New York City's rental market as a wave of new construction adds more units in Manhattan and Brooklyn in the coming year.
"The pain is going to continue in New York through '17," Sean Breslin, AvalonBay's chief operating officer, said on a conference call on Tuesday to discuss third-quarter results.
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