The notion that troubles on Wall Street are starting to filter out to the broader New York City economy got a boost this morning when a real estate group released its latest rental market report showing that all average apartment rents decreased in October. The downturn in rents was most sharply felt in doorman one and two bedroom units, according to The Real Estate Group which released the report.
This marks the first time this year that average rents in Manhattan decreased. But tell your studio-dwelling friends not to get too excited—rents for studios remain stable.
New York City 2010
