After the building was sold in 1999, rents began to climb.

The program took hold, and as the economy improved, office space filled up and rents began inching upward.

Although the rentals brought in money, rents were beginning to drop and she had a vacancy.

Throughout Manhattan rents have begun to slip since the stock market crash.

But as rents began to rise, the flophouses were converted to condos.

Eventually, Columbus Avenue became so popular that rents began to climb.

The rent began at $250,000 a year and was scheduled to rise to $355,000 in 2001.

But as rents around Avenue C began climbing, they lost their luster.

He added, however, that rents had begun to level off about six months ago, because the prices were "all the market will bear."

The rent would begin at $3 million, rise to $5.5 million in six years and increase 2 percent a year after that.