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In this infographic, you can see that some of the largest year over year rent cuts came from some of the nation's biggest and traditionally most expensive markets.
An affiliate of the Green Cities Co. purchased the 295-unit property as a stable investment opportunity given its proven track record and potential value-add opportunities, says a source involved in the deal.
According to a November rent report, New York rents have declined 2.8% over the past month, and have decreased sharply by 17% in comparison to the same time last year. Comparable cities nationwide show more affordable rents compared to New York