The October market reports are out, and as Douglas Elliman’s Jonathan Miller says, “the key metric in the report is that concessions in Manhattan have hit record levels.” Miller has tracked rental concessions from landlords for the past six years and last month those hit an all-time high, with 23.9 percent of all market-rate Manhattan rentals coming with concessions from eager landlords—up from 10.4 percent one year ago.

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