February 23rd 2023
The Real Deal
“The frenzy for rentals was more intense when you skewed higher in rental price,” Miller said.
As high interest rates and low inventory continue to cripple home sales, many would-be luxury buyers returning to the city are opting for rentals to ride out a turbulent economy, according to Adjina Dekidjiev, a broker at Coldwell Banker Warburg.
“Wall Street bonuses weren’t as high as expected, and some of those [potential] buyers are preferring to rent,” Dekidjiev said.
Other renters are finance and technology executives moving to the city.
“I see a lot of people relocating from California that have to be in the New York City time zone to maintain contact with business relations in the East,” Dekidjiev said.
https://therealdeal.com/new-york/2023/02/23/luxury-sans-commitment-here-are-nycs-priciest-rentals/