Matrix Multifamily Manhattan Report-August 2024 August 21, 2024

Manhattan Maintains Rental Solidity

Advertised asking rents were up 4.8 percent YoY in Manhattan as of June, reaching $4,941 and outranking the rest of the nation. Investments increased slightly, reaching $621 million YTD through June, while the supply pipeline stayed solid, with 12,700 units under construction.