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Manhattan's average rent hit a record $6,655 in July, marking a 10% increase from the previous year. This rise coincides with Mayor Zohran Mamdani's upcoming rent freeze for rent-stabilized apartments, which has raised concerns among some economists about potential negative impacts on the rental market and property maintenance.
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Manhattan's average rent hit a record $6,655 in July, marking a 10% increase from the previous year. This rise coincides with Mayor Zohran Mamdani's upcoming rent freeze for rent-stabilized apartments, which has raised concerns among some economists about potential negative impacts on the rental market and property maintenance.
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Manhattan Rents Surge To Historic High As Mamdani’s Rent Freeze Looms
Manhattan Average Rent Reaches $6,655 in July Amidst Upcoming Rent Freeze