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Can't Cool Those Downtown Rental Rates

Despite the looming expiration of LMDC rental subsidies and a surge of inventory funded by Liberty Bonds, lower Manhattan brokers say it's never been harder or more expensive to rent downtown. Now, this could all be a lot of hot air intended to fuel a soon-to-be-sagging market, but it's hard to ignore the data, especially for the average prices on Wall Street /Battery Park City studios and one-beds ? $1876 and $2509, respectively.

One explanation for the soaring prices: buyer fatigue. ?They?re just burnt out,? Stribling's Pamela D?Arc told Downtown Express. ?People who have lost a few apartments in bidding wars and feel that there?s just not enough inventory may have decided to bow out and wait and rent.?
· Climbing Rents Continue Downtown [Downtown Express]