Manhattan’s property market has seen astonishing growth since the 1970s. In 1974, co-op apartments averaged just $24,500 per room, and median rents for the New York metro area were a mere $118 monthly in 1970. By 2026, however, forecasts suggest that asking rents in Manhattan will skyrocket to approximately $5,000 per month, underscoring the urgent need for increased housing supply to match the city’s burgeoning demand.
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