New York City Vacancy Rate Increases; Luxury Market Still Tough to Navigate

Renting an apartment in New York City is definitelyCurrently, both San Francisco and Seattle are
not easy, or cheap. In fact, up until recently, Newconsidered tougher places to get apartments by the
York apartments were considered the most difficultgood people at Marcus & Millichap.
to rent by Marcus & Millichap's National ApartmentThere's one aspect of renting an apartment that
Index, which evaluates the 43 most populous rentalNew York City still holds the crown in: luxury
markets. Surprisingly, though, a mild uptick in vacancyapartments. The city offers more luxury apartments
rates in New York apartments in 2007 has pushed– both total and per capita – than
the city down to the number three spot in the index.any other major city in the country.