When you catch a cold in November, the common assumption is it's a seasonal ailment. But when the bug has been around for three months, a larger trend may be at work.
The warning signs on lagging apartment rents are flashing in one of the nation's priciest apartment markets, a place where a record of $4,400 per month in the median price was set during the summer.
The median rent in Manhattan dropped to $4,000 in November, the third consecutive month the benchmark has declined and a 4.6% drop from the October tally, according to the latest Elliman Report.
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