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Surprise! No Rent Increases!

…“In Manhattan over the last 18 months, there has been an unprecedented rise in rents,” said Jonathan J. Miller, the president of the appraisal firm Miller Samuel….

…According to a recent rental report for Douglas Elliman that Mr. Miller wrote, the median rents downtown increased a nominal 1.5 percent, to $3,350, in July compared with July 2012….

…Given these factors, Forest City Ratner’s decision to offer no rent increases “makes sense,” Mr. Miller said. “The landlord is anticipating that the rents are already high, let’s keep the building at the current rents and keep it full.” …

…The top 10 percent of rental units across Manhattan saw a median price increase of 11.7 percent, to $8,412, in July compared with July 2012, according to data from Mr. Miller….

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