New York's rental market is entering a 'slow grind'

New York City's rental market is on track to continue cooling through the rest of the year, especially in the oversupplied luxury segment.
In February, rents for studios and one-, two-, and three-bedroom apartments in Manhattan all fell year-over-year, according to the real-estate appraiser Miller Samuel. This hadn't happened since at least September 2012, according to Jonathan Miller, the CEO of the firm.
The luxury market softened the most as developers focused most of their energies there and