Manhattan Landlords Race to Fill Apartments in Declining Market

Bloomberg, Mar. 15, 2018–Oshrat Carmiel
Rents fell from a year earlier for the third consecutive month in February as landlords competed for tenants in a market that’s overflowing with choices. Owners cut an average of 2.4 percent off their asking prices, then sweetened deals with incentives, such as rent-free months, on 48 percent of new leases, Miller Samuel and Elliman said.