According to RentJuice®, a Zillow® business and provider of lease marketing technology to thousands of real estate property managers and brokers, the uptown part of Manhattan, specifically Harlem neighborhoods, experienced a price jump in the rental sector of real estate. In a news release distributed today, it stated that “over the last quarter, the city’s average cost for space remained stable at $4.98 per square foot-exactly the same as at the close of the first quarter. The largest hike in price per square foot occurred uptown in Harlem. Neighborhoods such as Central Harlem, Harlem and Morningside all experienced 11 percent jumps in average price per square foot in the second quarter. Renters in Hamilton Heights, however, saw a five percent decrease in average price per square foot.”
To read the full news release, click here.