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Rental Market Surges in Manhattan
Brownstone Properties in High Demand
Studio Apartments to Luxury Units Soaring in Price
New York City's rental market is experiencing an unprecedented surge, with brownstone properties in Manhattan seeing particularly high demand. Data from various rental platforms reveals a steep increase in rental prices across the borough.
According to recent listings, entire rental units in brownstone townhouses are commanding substantial prices. In March, a three-story brownstone with four bedrooms and 4.5 bathrooms rented for $925 per month. By May, however, the same property had increased significantly to $1,000 per month as a private room in a rental unit.
Smaller units are also experiencing a spike in prices. A private single occupancy studio apartment in a brownstone rented for $179 in November 2023, while a tastefully decorated private room in a rental unit is now listed at $96 per month.
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