Smaller Manhattan apartments lead Feb rental gains
Median rent for studios up 10% to US$2,351 a month; one-bedroom rentals rise 9.4% to US$3,400
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New York
MANHATTAN'S smallest apartments are fuelling big gains in rents.
The median rent in the borough jumped 8.9 per cent last month to US$3,375, according to a report Thursday by appraiser Miller Samuel Inc and brokerage Douglas Elliman Real Estate. Costs for studio apartments climbed 10 per cent to a median US$2,351, while rents for one-bedrooms rose 9.4 per cent to US$3,400, both the highest in more than seven years of record-keeping.
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