recorded strong performance<\/strong><\/a> at a time when most U.S. markets began seeing the effects of a slowing economy. Anchored by a New York City market that has proved more resilient than expected following pandemic-induced struggles, the borough\u2019s average rent rose 0.3% on a trailing three-month basis as of November, as the national rate contracted 0.1%. Meanwhile, occupancy was at one of the highest rates in the nation, with the average rate in stabilized assets at 98.6%.<\/p>\n