Manhattan rents reach all-time high of $6,655/month amid Mamdani’s rent freeze and pied-a-

surprise, surprise


Manhattan rents reach all-time high of $6,655/month amid Mamdani’s rent freeze and pied-a-terre tax threat


Manhattan renters, brace yourselves.

The average price tag for a place to live just hit a jaw-dropping $6,655 a month, an all-time high, according to fresh data from Corcoran Sunshine Marketing Group.

That’s a brutal 10% jump from a year ago, and real estate pros are pointing straight at Mayor Mamdani’s incoming rent freeze on stabilized units as one of the culprits, along with a looming pied-a-terre tax that brokers say is only going to squeeze the market harder. The pain is compounded by a record-low number of vacant apartments across the city, leaving desperate renters with almost nowhere to turn.

The median rent, meanwhile, sits at $5,295, up 6% from last July, though it held flat month over month after climbing 3% in both June and July from May’s previous record of $5,125.

Manhattan rents have hit a record $6,655 average a month, up 10% year-over-year, as brokers blame Mayor Mamdani’s incoming rent freeze on stabilized units, a new pied-a-terre tax, and a historic housing crunch for driving prices to breaking points.



Every size apartment is getting hit, with average prices up double digits for two- and three-bedrooms. Studios now average $4,088 (up 8%), one-bedrooms are at $5,486 (up 7%), two-bedrooms have soared to $8,054 (up 13%) and three-bedrooms are averaging a staggering $12,228 (up 12%), all year-over-year. Studios, one-bedrooms and two-bedrooms have all hit all-time highs.

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