The Manhattan rental market is having to contend with an unrelenting wave of new supply, and owners are now being forced to offer rent discounts and deal sweeteners to fill their units before the slower, cooler months set in. Photo: AFP

Manhattan’s peak leasing season flattened by July rent declines

Leasing costs in the borough dropped 1.9pc from July 2016, the first decline for the month in at least five years

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The Manhattan rental market is having to contend with an unrelenting wave of new supply, and owners are now being forced to offer rent discounts and deal sweeteners to fill their units before the slower, cooler months set in. Photo: AFP
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