Manhattan Rents Jump Most On Record Despite Dismal Back-To-Office Return
Even though the Omicron variant scare has slowed the back-to-office return across Manhattan, demand for apartments in the borough is booming.
According to a new Miller Samuel Inc. and brokerage Douglas Elliman Real Estate report, median rent skyrocketed 23% in November compared with the same period last year to $3,369. The increase was the most on record as people are returning to the city for the nightlife, not necessarily back to the office.