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Manhattan rents are on the rise, landlord concessions down across all five boroughs

Housing prices in all five boroughs have increased, a report released by residential real estate brokerage firm Citi Habitats states.

Housing prices in all five boroughs have increased, a report released by residential real estate brokerage firm Citi Habitats states.


Bargains are drying up for Manhattan apartment renters - reflective of a broader trend in the other four boroughs as well.



Rents rose last month, while the vacancy rate shrunk and landlord concessions were down significantly compared with last year, according to a report due out Wednesday by residential real estate brokerage firm Citi Habitats.

"It's a 180-degree different market from a year ago," said Citi Habitats' President Gary Malin.

A recent survey by the Real Estate Board of New York found that, compared with last year, 26% more brokers in the city reported closing rental deals over the summer at asking prices.

Average rents for Manhattan apartments were up modestly last month compared with October and rose considerably compared with November 2009.





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