Manhattan sees record number of vacant apartments amid coronavirus (nypost.com)
Manhattan is a raging renter’s market, new data show.
There were 13,117 vacant rental apartments in the borough last month — a 122 percent increase over July 2019, according to the Elliman Report.
Last July, there were only 5,912 units available, according to the report by real estate experts Douglas Elliman and Miller Samuel.
Meanwhile, rents are down, and — thanks to the loosening pandemic restrictions on showing apartments — new leasing is experiencing a mid-pandemic surge in the borough, though it’s still well below last July’s levels.
The staggering number of vacancies in one of the country’s most expensive rental markets is the highest in 14 years of Miller Samuel’s record-keeping.
As the rental stock increases, rent prices are falling, the report said.
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