Real Estate
Manhattan Rents See Record Surge Even With Slow Office Return
- Apartment hunters missing NYC nightlife are scouring for deals
- Median rent, up 23%, is still below where it was two years ago
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Fevered demand for Manhattan apartments sent rents soaring the most on record in November, even without a mass return to the office.
The median rent jumped 23% from a year earlier to $3,369, according to a report Thursday by appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate. It was the biggest increase in a decade of record-keeping, though the median is still 3.8% below where it was in November 2019, before the pandemic.