‘Pandemic Pricing’ Is Here. Rents Are Dropping Across the US

Source: CNN »

At the end of May, Ilana Freund landed a deal on an apartment in New York City where she will be attending graduate school. She and her roommate signed a lease on a two-bedroom apartment in the West Village for $4,995 a month. It was a significant discount: Similar apartments in the building were going for around $5,300 before the pandemic took hold, according to the listing agent.

The two roommates were also given one month’s rent free and did not have to pay a broker fee, which typically would have cost them 12% to 15% of the annual rent…

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