Rentals in New York City Drop 17.5% in Price Per SQ Foot


2009 Rental Graph By The Guru

2009 Rental Graph By The Guru

[Graphic via Prudential Douglas Elliman.]

This graph tells us it’s great news for bargain renters across the Manhattan land. For those that felt exiled to the other suburbs because of the increase in rental rates from 2007-2008 you are now no longer banished. Return to the isle immediately the landlords require your dutifull 1 year lease commitment.
In return they will bestow upon you not 1 but possibly 2 months free rent on top of the already decreased rates of 17.5%.
For those that chose to stay and take the high rate beating it is now time to tell your landlord that you are now king and what you feel the apartment you are staying in is worth. Ask for 17.5% off and you may receiveth. If not leave for a larger space for less money. Once in a while the masses do receive fair treatment. This is that time. Take full advantage while you can.

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