I am in the process of working on a 22 story residential structure on the upper West side and they will be asking $5K a month for avg 950sq ft 1 BR apartments (w/ Juilet balcony) the 2BR (w/ larger balcony) are $6500 a month.
This will be a LUX building with on site amenities (Gym, Tenant storage rooms, concerge service) but the price is very typical of the Hi end market.

I did a 7 story Residentil rental in Greenpoint Brooklyn 4 years ago and thye were asking $3500 for a 2 BR (same type of amenities) and they now ask $4500. Parking for 68 cars is under the building ($400 a month).

Brooklyn Condo/Coop and Rentals has gone nuts! They have renamed Bushwick (da Hood) to East Williamsburgh and the rents have tripled for 3 deckers (owner occupied) and the working class has been pushed out.

Harlem is now out of reach for anyone but RWP's (Rich White Professionals) and for the first time in 50 years has a larger Caucasian population than Minority population.

Forget Queens- Astoria and LIC are now out of reach for anyone making less than $150K and the wave is moving East.

The asking price in my Coop development has jumped again and is almost at 2007 prices ($359K for a 2 BR Garden Coop). I paid $85K in 1985.

The city is also building a lot more schools in areas that have increased "new" populations (read RWP).10 new schools are in construction and 5 large Industrial buildings in Manhattan and Brooklyn are being turned into schools.

The only good thing is it is fixing the tax base.