A little relief is coming this way for renters, particularly those in NYC’s luxury market. The average rent throughout Manhattan and Brooklyn dipped in January, with concessions like free rent and comped building amenity fees reaching new highs. The use of concessions has been on the rise, particularly in Manhattan, where Douglas Elliman found that it hit an all-time high for the fourth consecutive month—now, more than 30 percent of leases include a concession. In short, it’s a good time to sniff out reduced rent.

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