According to a Yardi Matrix report, Manhattan's multifamily rents climbed 5.6% year-over-year through June, marking the fastest pace among major U.S. markets. Concurrently, investment sales in the first half of 2026 totaled $582 million, but the average per-unit sale price dropped to $270,864 from $413,342 a year earlier, a decline of roughly 35%. This divergence suggests deal volume was driven by smaller, workforce-housing buildings at more modest valuations, rather than trophy-asset trades. Yardi Matrix expects Manhattan asking rents to close out 2026 up 3.1%.