Well, so much for the seasonal peaks and valleys in the real estate market. According to the Real Estate Group New York’s January Manhattan rental market report (PDF), released today, month-to-month average rents fell for studios, one-bedroom apartments and two-bedroom apartments, in both doorman and non-doorman buildings. It was a clean sweep, and one that bucked the usual seasonal ...

Tenant incentives and lower rents should be the order of the day, every day, for 2009, according to the Real Estate Group New York's 2008 Manhattan rental market report. The report (PDF) predictably shows rent drops across the borough last year. Doorman-building studios, for instance, dropped 7.38 percent and non-doorman two-bedrooms dropped 5.58 percent from January to ...

"We are dealing with a much different market than the same time as last year,” said John Parsegian, a senior vice president at Halstead Property who specializes in the luxury rental market. Indeed. As rental market reports heap seemingly endless piles of bad news on an already jittery industry, it’s becoming clear that the economic woes of the past ...

Symptoms of the credit crunch in the Financial District became obvious over the summer, when commercial and residential vacancy rates rose and a slew of new luxury condos spilled onto the market as rentals. Now, signs offering occupants incentives like no brokers’ fees and one month’s free rent are as plentiful on the sidewalks as camera-toting tourists. The Financial ...