Are rent rates in Financial District going down?

Question by Petit Monstre: Are rent rates in Financial District going down?
I’ve noticed in the New York Times Real Estate listings, many Financial District listings are cheaper than they were a few months ago.

For example I’ve seen a two bedroom, one bathroom in the middle of Financial District go for $ 3,400 and a three bedroom, one bathroom in the middle of Financial District go for $ 3,600 or do. A few months ago these places would’ve cost around $ 3,800 and $ 4,350.

Are rents in Financial District falling?

Best answer:

Answer by LJ
No.

The real estate section of the NY Times just put out an article stating that rents in Manhattan are at an all time high right now. The financial district is a particularly hot neighborhood. You can’t go by listings you’ve seen. Unless you’ve physically gone to look at an actual apartment, you have no idea why it’s listed for that amount of money.

Bottom line, if an apartment seems less expensive than you expect, you’ve got to wonder what’s wrong with it.

What do you think? Answer below!

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