Buyers on the sidelines are giving a boost to high-end Manhattan rentals

  Manhattan’s rental market is poised to benefit from the sales slowdown. As prospective buyers sit on the sidelines, the luxury rental market is seeing a boost in new leases, according to Douglas Elliman’s Manhattan rental report. The high-end segment saw an 11 percent increase in new leases in September. “We have definitely noticed an uptick of customers who were on the sales side,” said Hal Gavzie, Elliman’s executive manager of leasing. The shift comes […]

Source: Real Estate

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