Manhattan rents have dropped for the first time in over TWO years - as a glut of empty appartments force owners to cut costs The average rent in Manhattan, which is the most expensive place to lease an apartment in the US, fell 2 percent year-on-year in November to $4,000, according to a from Douglas Elliman and Miller Samuel. While slight, this decline from $4,095 the year before marks the first time prices have fallen in 27 months, the report said.
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