Demand for apartment leases in Manhattan surged in February while rents appear to be leveling off at near-record levels.
Demand for new leases also surged in Brooklyn and Queens last month, but rents ticked down in the outer boroughs, according to the latest Elliman Report.
New leases were up 17.3%, 38.6% and 31.7% in Manhattan, Brooklyn and Queens, respectively, in February, in comparison to January's results. The median rental price in Manhattan was $4,095, virtually unchanged from January's median of $4,097.
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