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tw0122

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tw0122

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Sunday, 07/19/2020 8:16:44 PM

Sunday, July 19, 2020 8:16:44 PM

Post# of 784
More than one-third of New York rentals were discounted during the second quarter as demand continues to slump thanks to the economic effects of the COVID-19 pandemic - including the flood of workers telecommuting instead of vying for limited rental space downtown.
According to Fox Business, rent prices were discounted an average of 6.7% ($221 per month) across 34.7% of New York properties in Q2 - with rents at higher-end apartments experiencing the highest cuts "as wealthy buyers have flocked to the suburbs since March."
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