Wednesday, March 19, 2008

The average price of one- and two-bedroom rental apartments in Manhattan went down over the last month

The average rent for a one-bedroom in a doorman building went from $3,661 in March 2007 to $3,578 in March 2008. Two-bedrooms in doorman buildings went from $5,555 to $5,265.

Real Estate Group Chief Operating Officer Daniel Baum tells the Associated Press that anticipated job cuts and the sagging dollar “have planted seeds of doubt in the minds” of many New Yorkers.

He says they are responding by sacrificing space and service for cheaper apartments. By “cheaper,” we assume he means less expensive: The average price of a one-bedroom in a doorman

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