“In the beginning of March, April, we saw a tremendous outbound migration. About over 400,000 people left Manhattan, 40% of the occupants, essentially,” Jonathan Miller, CEO of appraisal firm Miller Samuel Real Estate Appraisers & Consultants, which prepared the report for New York City residential brokerage Douglas Elliman, told Yahoo Finance. Renters in Manhattan “became first-time buyers, they lived with relatives, they rented — they did anything but come into the city,” he said.
