New leases in the borough shot up by more than 30% month over month, rising from 3,869 to 5,041, and listing inventory continued increasing but stayed far less than the decade average for May at 6,998 available apartments, the report says. Manhattan's vacancy rate for the month was about 2.2%, down slightly from 2.3% in April but up from 1.8% in May 2022.
The median rent in…