Landlords in Manhattan are making deals with tenants who sign long-term leases in Class A buildings giving them a month or more of free rent a year. On top of discounted rent, building owners are also offering as much as $100 per foot in work allowances as more developments in Midtown and elsewhere come on the market and the cost of moving offices is reduced. The average annual income for renters in New York City has risen to $47,500, up from $41,000 five years ago, according to an analysis by the Furman Center at New York “Tenants can move without spending their own money,” says Margolin. ’s Wagner College.
Landlords in Manhattan are making deals with tenants who sign long-term leases in Class A buildings giving them a month or more of free rent a year. On top of discounted rent, building owners are also offering as much as $100 per foot in work allowances as more developments in Midtown and elsewhere come on the market and the cost of moving offices is reduced. The average annual income for renters in New York City has risen to $47,500, up from $41,000 five years ago, according to an analysis by the Furman Center at New York’s Wagner College.