Manhattan Rent Falls But Somehow Still Breaks March Record: Study

NEW YORK CITY — Manhattan's rent is so damn high that it breaks records even when it falls.

What may sound like a hack comedian's "Only in New York" joke is literally what happened in March, according to a new analysis by Douglas Elliman real estate company and appraisers Miller Samuel.

The typical rent in Manhattan declined year-over-year for the first time in four months, the analysis found.

But the median rent of $4,100 — besides being outrageous in any U.S. city that's not The Big Apple — is also a new record for March.

"Median rent rose annually to the second-highest March on record," the study states.

Rent in Brooklyn and northwest Queens, which both have been "unexpectedly" rising, was more of a mixed bag.

Brooklyn's typical ticked slightly upward to $3,495, the study found.

The borough's rent hasn't declined since October, according to the study.

Northwest Queens' typical rent dropped to $3,200, a 3 percent drop for the year, the study states.

And new lease signings in Queens hit the highest year-over-year level on record, according to the study.

"Median rent declined year over year for the second time in three months as new lease signings surged to a new high," the study states.

Read the full study here.