New York City Enters New Luxury Rental Era

In few places have the wild gyrations unleashed by the pandemic and its aftermath been more evident than in New York City luxury rental pricing. As the Covid-wary fled the Big Apple for greener pastures in 2020 and 2021, rents dropped to lows unseen in years, and concessions flooded the rental market.

Since then, the rent price pendulum has rocketed back upward to record highs, leaving observers complaining of whiplash.