June 17, 2020: Manhattan’s real estate market has been hard hit by the pandemic and lockdown orders. Last month, 7,420 empty apartments were listed for rent. That’s a 34% increase over the previous year.[1]
It’s also the highest number of available apartments ever recorded since real estate appraiser Miller Samuel started collecting the data in 2006.[1]
In May, the number of new leases signed fell by 62%.[1]
Larger and more expensive apartments are the hardest hit.[1]
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