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Manhattan apartment rentals nearly doubled in December – CNBC

“It’s a baby step in the right direction,” said Jonathan Miller, CEO of appraisal and research firm Miller Samuel. “The metrics are still very weak.”

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Manhattan apartment rentals nearly doubled in December, signaling a possible turnaround in the city’s struggling real estate market.
The number of new leases signed in December jumped to 5,459, up 94% compared with last year, according to a report from Douglas Elliman and Miller Samuel. The gains marked the largest increase in nearly a decade, and the third straight month of year-over-year leasing gains.
“It’s a baby step in the right direction,” said Jonathan Miller, CEO of appraisal and research…

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