Saturday, March 22, 2008

Manhattan apartment costs are down

A report released Wednesday by the Real Estate Group found the average price of Manhattan one- and two-bedroom apartments decreased last month - and finding a new home in the next six weeks could mean less rent.

"If you want to save money and plan on moving soon, move now ... If you can move before May, you're almost sure to find a considerably better deal," the group said in its 27-page analysis of the market.

The trend dates to last year, the report found, with the cost of living in a doorman building down across the board compared with March 2007: from $2,639 to $2,586 for studios, from $3,661 to $3,578 for a one-bedroom, from $5,555 to $5,265 for a two-bedroom.

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