You know the saying, if you can make it in New York, you can make it anywhere.
Well, it looks like it's getting much,
much harder to make it in New York City as
the average rent in Manhattan is hitting record highs.
According to a report from Miller Samuel and Douglas Elliman,
the average rent for the month of July was nearly $5600
which the report notes is a 9% increase from last year,
9%.
This marks the fourth time in the previous five months
that Manhattan average rents hit a new record high.