Property News · March 19, 2018

Manhattan landlords race to fill flats in declining market


Flats rents are dropping in Manhattan, and so is the patience of landlords.
Units that found tenants in February spent an average of just 34 days on the market, the shortest stretch since October 2011, as owners cut rents, offered incentives and did whatever else they could to fill vacancies, according to a report Thursday by appraiser Miller Samuel, and brokerage Douglas Elliman Real Estate.
“Landlords are not playing around,” said Jonathan Miller, president of Miller Samuel….

Source : South China Morning Post
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