Manhattan rents see slight increase in April: Report
Overall rent prices in Manhattan may be on the rise, but there is one diamond in the rough for apartment hunters.
Real estate group MNS released a report Thursday revealing that average monthly apartment rents increased less than a percent between March and April, from $3,791 to $3,800. The prices represented a 5% jump from April 2012 when the average rent for the borough was $3,619. But MNS said there are some communities where average rent was down, including SoHo, which saw a 2.59% dip in monthly rates.
"The exclusive clientele of affording the rental rates in SoHo should experience discounts," the report said.
TriBeCa also saw slight decreases.
Several Manhattan neighborhoods such as Battery Park City, the East Village, Harlem and the Upper East Side saw major increases in monthly rents for all apartments, including studios, between March and April according to the report.