Rents

Manhattan Apartment Rents Dive To Decade Low As Inventory Swells 

As expected, given the dynamics of the pandemic driven exodus from New York City, Manhattan’s rental market has witnessed another massive plunge in rents, falling to a ten-year low. According to Bloomberg, citing a new report from appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate, the borough’s median rental price plunged 22% in November from a year…

Struggling Retailers Owe $52 Billion In Overdue Rents 

The virus pandemic – with its temporary and permanent store closures, strict social distancing requirements, e-commerce boom, and supply chain disruption – since March has fueled uncertainty among US retailers as many find themselves in a $52 billion hole. Bloomberg, citing new data via CoStar Group Inc., outlines how restaurants, gyms, and other businesses have…