Manhattan apartment rents fell as much as 5.9% last month from a year earlier, and the vacancy rate topped 2% for the fifth consecutive month, the real estate brokerage Citi Habitats Inc. said Monday.
Average rents declined for apartments of all sizes, Citi Habitats said.
Studio rents dropped 2.1%, to an average of $1,812. One-bedroom apartment rents fell 5.9%, to $2,595. Two-bedroom rents declined 2.2%, to $3,631, and three-bedroom rents fell 1.6%, to $4,670.