Rent going down in Midtown Manhattan (NY NY)?

I am not sure exactly what is going on their in the way of litigation or subsidies > I live in North Jersey close to NYC and will give you my take... With the downturn of the economy----their are many empty apartments... The supply and demand rule dictates that rents will drop to try to get the market moving again...The financial district was especially hard hit by job losses and as a result many people could no longer afford high rents.. It sounds like a good deal--but before you jump on it look at some comps in your area -to get a better feel of the market for your type of rental---perhaps they fear you leaving and would rather bring the rent more competitive then risk having another vacancy. Also be sure that services will not be reduced from what you have now.