While Sales Cool, Manhattan Rents Rise

The real estate market in Manhattan and Brooklyn continues to cool, according to the Q3 2016 StreetEasy® Market Reports. Manhattan rents, however, are now rising faster than Manhattan sale prices. Median rent rose 3 percent over the past year, while median resale price increased by 1.1 percent, which marks the slowest pace of growth since Q4 2010.
Resale prices rose the most in the Upper Manhattan (3.6 percent) and Midtown (2.2 percent) submarkets. The