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Manhattan apartment rentals nearly doubled in December – CNBC
“It’s a baby step in the right direction,” said Jonathan Miller, CEO of appraisal and research firm Miller Samuel. “The metrics are still very weak.”
Manhattan apartment rentals nearly doubled in December, signaling a possible turnaround in the city’s struggling real estate market.
The number of new leases signed in December jumped to 5,459, up 94% compared with last year, according to a report from Douglas Elliman and Miller Samuel. The gains marked the largest increase in nearly a decade, and the third straight month of year-over-year leasing gains.
“It’s a baby step in the right direction,” said Jonathan Miller, CEO of appraisal and research…
