The vacancy rate is now 1.07 percent, the lowest it has been in three years, Citi Habitats reports.

Last year at this time, Manhattan vacancies were at 1.17 percent.

At the same time, rents are at their highest. Manhattan dwellers pay, on average, $4,081 a month — from Inwood to the Financial District — for the privilege of living in Gotham.

That tops the previous average rent record of $3,902, which was set in May 2014, according to realty giant Douglas Elliman.

Soaring rents in Manhattan continue to push renters to the outer boroughs.

New rental units in Brooklyn increased an astonishing 379.6 percent, to 1,079 units, while in Queens, new rentals increased 127.2 percent, to 259, compared with the same time last year, according to the Elliman report.

“Developments in Brooklyn and Queens have transformed. There are now better offerings for new luxury high-rise, amenitized buildings, which are sprouting up left and right,” said Citi Habitat President Gary Malin.

“People who aren’t from New York City don’t know where places like Astoria and Long Island City are, but when they go there and see how vibrant the areas are, and if the commute to Manhattan is relatively painless, they are likely to give it a try.”

Real estate appraiser Jonathan Miller, who prepared the Douglas Elliman report, agreed.

“Rents . . . are staying high, and instead of renewing leases, people are willing to move to the outer boroughs so they can stay in the city,” Miller said.

“People are picking up and trying their luck elsewhere.”

The extraordinary jump in new rentals in Brooklyn is also due to the fact that the real estate industry is keeping better tabs on what is going on in the outer boroughs, Miller said.

And while Brooklyn neighborhoods like Williamsburg are no longer a “second choice” but a destination spot, the median Brooklyn rental is still $2,961 a month, which is $447 less than the median in Manhattan, Miller said. Queens also adjusted its market, so the median rental is now $2,597, which is down 12.4 percent from the same period last year.

Landlords are feeling so confident that the concept of offering concessions to renters has practically “collapsed,” Miller said.

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The “importance” of a city may at first seem hard to quantify, but the London-based real estate consultancy defines the relative importance of a city by its business links, economic activity and lifestyle offerings. The world’s Top 40 cities are those “where the wealthy congregate, work, invest, are educated and spend their leisure time,” the report says.

South Florida is already home to the most billionaires in the state, with 28 of the Sunshine State’s 42 billionaires calling the tri-county area home. But when it comes to Miami, that doesn’t necessarily mean that the state’s super rich all live there, just that they like to work, play and visit the city.

What makes an über-wealthy individual? They’re not the average millionaire. To qualify, an individual needs $30 million or more in assets.

London is the most important city in the world for the super rich, followed by New York, Hong Kong, Singapore and Shanghai. Rounding out the Top 10 are Miami, Paris, Dubai, Beijing and Zurich.

That Top 10 will remain consistent through 2025, although there will be some movement within the group. Miami will drop to seventh, and New York will surpass London as the most important city in the world for the ultra-rich, the study projects.

While Miami is a destination for the super rich to work, play and perhaps keep a secondary residence, the über-wealthy are more likely to keep their main residence in cities like London, Tokyo, Singapore and New York.

The study also found that Miami is one of the most expensive cities in the world for prime residential real estate. The city comes in 11th in the world for the most expensive real estate based on apartments based on the amount of luxury space $1 million will buy. In Miami, $1 million buys on average 59 meters, or 635 square feet. The most expensive? Monaco, where $1 million snares 17 square meters of luxury property, or just under 183 square feet.

It also turns out that the ultra-rich love to take private jets in or out of Miami, says the study. The Miami-to-New York route had the second most private jet traffic in 2013. West Palm Beach also made the Top 10 list, with New York-to-West Palm Beach the fourth most popular route in 2013.

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But before those skyscrapers sprouted up on what is now known as Billionaires’ Row, the city’s tallest residential tower could be found at 8 Spruce Street (870 feet). And while 8 Spruce, now known as New York by Gehry, had to relinquish its first-place spot, many of its new Financial District neighbors have similarly lofty ambitions.

From Michael Shvo and Bizzi & Partners 125 Greenwich Street (841 feet) to 42 Trinity Place (1,015 feet), here are some Downtown skyscrapers giving their Billionaires’ Row counterparts a run for their money.

50 West Street, 783 feet

Time Equities is developing a 64-story at this location. Thomas Juul-Hansen is designing the interior, while SLCE Architects is the architect of record. The tower reportedly will include 191 units across more than 400,000 square feet. Even though the tower — expected to rise 783 feet — won’t be tall enough to be considered “supertall,” it will still make its mark on the Downtown skyline.

42 Trinity Place, (potentially) 1,015 feet  

New renderings were released for Trinity Place Holdings’ project. While reports claimed that the developer added roughly 600,000 square feet of air rights to this project, a spokesperson for the developer said the project will be 300,000 square feet and roughly 500 feet tall. Studio C Architects’ renderings for the tower showed a supertall tower of least 80 stories and 1,015 feet tall, which would make it taller than Larry Silverstein’s 30 Park Place and 125 Greenwich. This development also includes the plans for a 29-story hotel at the long vacant, and adjacent, 50 Trinity Place.

30 Park Place, roughly 930 feet

One of the most anticipated Downtown towers is Larry Silverstein’s 30 Park Place. The 82-story tower, which was designed by Robert A.M. Stern Architects, includes 157 condominiums priced between $3.1 million and $60 million. With roughly 930 feet, it will be — at least for a little while — be the tallest residential tower in Downtown Manhattan.

New York by Gehry at 8 Spruce Street, 876 feet

Before One57 and 432 Park Avenue arrived on the scene, 8 Spruce was city’s tallest residential building. The Forest City Ratner-developed 76-story rental building includes 899 units.

125 Greenwich Street, 841 feet

Michael Shvo and Bizzi & Partners, with equity from Howard Lorber’s New Valley, are building a 841-foot tower at this FiDi location, according to a permit application from February. Rafael Vinoly is designing the tower, which will be tall, slim and glassy. SLCE Architects is the architect of record. The building will stand 71 stories tall. Earlier plans called for more than 1,350 feet, which would have made it the tallest Downtown residential tower and the second tallest in the city, after 432 Park. The supertall luxury tower will include 128 apartments, including 10 penthouses.

75 Nassau Street, 500 feet  

Metin Negrin’s Lexin Capital is building a 40-story mixed-use building in the Financial District that will rise almost 500 feet. Earlier reports claimed that the tower would stand at least 800 feet tall. The mixed-use skyscraper, designed by ODA Architecture, will include roughly 190,000 square feet of residential space.

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Meanwhile, pending sales rebounded in February — as is the norm after slow winter months — jumping up 27.5 percent since January.

“February is typically a turning point between the declining slow season and the busy spring season,” Alan Lightfeld, a data scientist with StreetEasy, said. The condo market usually sees a boost in March, he added.

March is historically the best time to list apartments in Manhattan, according to another report StreetEasy released earlier this month.

Condo prices, compared to January, stayed basically flat — prices increased 0.7 percent in February— but were still 7.8 percent higher year-over-year. The median sales price for condos in February was $1.2 million, according to the report.

The result, Lightfeld said, is that it’s going to be hard for condo owners to move to a different apartment at the same price point in Manhattan. “It’s a great time to sell,” he said, “but it’s difficult to buy in Manhattan.”

While condos have always taken longer to enter contract than co-ops, that gap is closing due to dwindling inventory, according to StreetEasy. Since February last year, the median time spent on the market for condos and co-ops have been within five days of each other.

In February, condos spent a median time of 62 days on the market, while co-ops saw a median of 60 days.

Despite the record cold, February still proved to be a record month for contracts signed for $4 million or more. A total of 116 contracts in that price range were signed in February, the highest level since at least 2007 and a 23 percent increase since 2014, according to the Olshan Luxury Market Report.

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No matter the term, this type of property is now emerging across prime Manhattan neighborhoods.

In simple terms, “affordable luxury” refers to top-tier property beginning at around $1,400 or $1,500 per square foot and going to $2,500 per square foot, experts say. This figure marks the entry level of Manhattan’s high-end market — a pricing arena that was previously underserved, if not overlooked, by developers. Now, however, the segment is flourishing.

Want proof? Corcoran Group’s Tamir Shemesh next week launches sales of the 22-unit, Peter Poon-designed Three Thirty Seven East Sixty Second ground-up condominium on East 62nd Street, a project boasting floor-to-ceiling windows and outdoor spaces, with one-bedrooms starting at $695,000 and going up to $3.15 million for a roomy duplex “townhome.”

There’s also HFZ Capital Group’s Fifty Third and Eighth — a 252-unit conversion at 301 W. 53rd St. in Hell’s Kitchen that launched sales in January — with prices from $1.13 million for a 667-square-foot one-bedroom to $1.87 million for a 1,040-square-foot three-bedroom. Apartments have scratch-resistant marble floors in the bathrooms, and quartz counters in the kitchen.

While these prices are certainly high for many buyers, they actually represent an evolution in the luxury arena — according to the latest Douglas Elliman data, the average luxury market sales price is a whopping $7.4 million.

Traditionally, this top end of the market has served only the wealthiest buyers. But developers are finally responding to consumers’ demand for sleek pads at better prices. And they primarily overcome land cost issues these days by converting existing properties; ultimately “that’s what makes [units] more affordable,” says Miller Samuel President and CEO Jonathan Miller.

“Because we didn’t have to buy the land and we didn’t have to build from the ground up, we’re able to offer prices that don’t compare to other ground-up developments in the neighborhood,” says Sherry Tobak of Related Sales, who’s overseeing deals at Carnegie Park, a 325-unit conversion at 200 E. 94th St. Prices here go from $695,000 for a 510-square-foot studio to $2.79 million for a 1,795-square-foot three-bedroom. Robert A.M. Stern Architects, of 15 CPW fame, redesigned the lobby and amenity spaces.

But lower cost does not necessarily mean lower quality.

“Everybody thinks of luxury as something they cannot afford — it’s beyond their reach,” says Shemesh. “The idea is the product is built like any top-price luxury building, but the prices can be accessed by a wider market.”

Apartments in this segment of the market aren’t exactly available for a song, but developers says they’ve found a welcome buyer base frustrated with a lack of appropriate opportunities.

“We don’t want to lose them to another city,” says developer Aby Rosen of buyers in the mid-market range. “You need to create some places for them … where the luxury is different.”

Like many of his fellow developers, “different” luxury doesn’t mean lower quality for Rosen.

His firm, RFR Holding, is handling the conversion at 300 E. 64th St., a 103-unit property which last month debuted Stonehill Taylor-designed amenity spaces including a landscaped roof terrace, media room, library and gym.

Units here — which hit the market last spring — span $725,000 for a nearly 535-square-foot studio to $2.85 million for a 1,431-square-foot three-bedroom.

They come with floor-to-ceiling windows, marble bathroom details and Bosch appliances.

The main difference here — and this is generally the case with the mid-luxury market — is that units are smaller, and this helps make them less expensive.

Compare them to the uber-luxury One57, where a $4.95 million one-bedroom measures 1,021 square feet, or a two-bedroom at one of the city’s priciest new buildings, 432 Park, asking $16.95 million for 3,575 square feet.

“If we don’t have bigger apartments, we use the amenity spaces similar to those of a hotel,” says Rosen of the robust selection of offerings at 300 E. 64th St. that give residents more space for activity.

“I’m paying less, but I can hang out.”

It’s similar at Tessler Developments’ ground-up 172 Madison in NoMad, whose amenity package is also generous, even though most apartments will inhabit the mid-price range. There will be a 67-foot pool, Jacuzzi with waterfall, gym and an outdoor plaza.

Units, which start at roughly 900 square feet, will also get the luxe treatment: Miele appliances, marbled walls in the master bathrooms, 11-foot ceilings and floor-to-ceiling windows. Pricing will start at $1.2 million, or $1,300 per square foot, for a one-bedroom here. Occupancy here is expected in late 2016.

And let’s not forget views! Take, for instance, the 125-unit 325 LEX, which looks out to the Empire State and Chrysler Buildings, where units currently range from $835,000 for a studio to $8.5 million for a three-bedroom penthouse.

“When you look at ‘affordable luxury,’ sometimes you don’t think you’re going to get those premium views in a building,” says Jodi Stasse of Corcoran Sunshine, which is leading sales and marketing at 325 LEX.

The luxe finishes and feel — and reasonable prices — brought 29-year-old Lauren Walsh to sign an $835,000 contract last month for a one-bedroom at Carnegie Park. Walsh, a first-time buyer who works at an investment management firm, will move into her 705-square-foot digs by the end of the year. The unit has hardwood floors, marble counters in the bathroom and all-new appliances, she says.

For Walsh, the apartment was a wise investment primarily for its Upper East Side location, where she sees property values increasing.

“It’s really good for first-time buyers [because] we’re in the early stages of building our wealth,” she says of Carnegie Park.

Another prominent conversion is the CetraRuddy-designed 135 W. 52nd St. — which is bringing lower-priced luxury to the heart of Midtown Manhattan’s new “billionaires’ row.” Here, asking prices average $2,148 per square foot, according to StreetEasy — significantly below the $2,747 luxury market average tallied by Douglas Elliman.

“We’ve seen One57, 432 Park, the Baccarat — we see a lot of buildings like those at a much higher price-per-square-foot,” says Douglas Elliman’s Stacy Spielman, who’s leading sales and marketing here.

“There is an excess of those … [135 W. 52nd St.] speaks to someone who wants to be in Midtown and understands that the area is transforming into a residential area that’s attainable.”

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Larry Fink, who built BlackRock Inc. BLK, -0.05% into the world’s largest money manager, had this to say at conference in Singapore, according to Bloomberg:

“The two greatest stores of wealth internationally today is contemporary art….. and I don’t mean that as a joke, I mean that as a serious asset class. And two, the other store of wealth today is apartments in Manhattan, apartments in Vancouver, in London.”

He isn’t kidding.

Just look at how Manhattan condo prices, as measured by Streeteasy.com, stack up against both that traditional store of value — gold (in this case, the continuous front-month futures contract) GCM5, -0.50% — and the S&P 500 SPX, -0.22%

Listen to the real-estate agents, and prices are headed even higher.

Douglas Elliman, a large New York real-estate broker, said in its latest report that the Manhattan housing market “took a breather” in the first quarter, and the shift reflects “the return to more sustainable conditions” after two years of robust growth.

The average sales price of $1.73 million was 2.3% below the $1.77 million of a year earlier, although the median price was off just 0.2% at $970,000.

“The strengthening U.S. dollar is expected to temper some portion of international demand although its primary driver has been the search for a safe investment haven over a currency play,” it added.

To be sure, the cost of holding property is much higher than storing gold, given the property taxes, condo and co-op fees and the cost of regular maintenance, let alone remodeling. But you have to live somewhere, and, of course, properties, owner-occupied or rented, come with tax deductions.

Now take a look at these two dueling $70-million-plus triplex apartments on the market today.

One, owned by Demi Moore, overlooks Central Park. The other, more than 50 blocks to the south, is being sold by Rupert Murdoch, the chairman of News Corp, which owns MarketWatch.

Moore’s six-bedroom, 17-room penthouse in the San Remo, a two-towered pre-war building at 145-146 Central Park West, between 74th and 75th streets, comes with about 7,000 square feet of living space, 1,500 square feet of terraces and a separate two-bedroom maisonette unit at lobby level. She is asking $75 million, according to the listing.

Moore and her then-husband, Bruce Willis, purchased the unit in 1990, according to The New York Times. It didn’t list the purchase price.

Murdoch’s triplex, also a penthouse with its own stunning views, is in a modern luxury tower, One Madison, located at the foot of Madison Avenue at 23rd Street, in the Flatiron district. He is asking $72 million for about 6,850 square feet of space now being built out, according to The Wall Street Journal, which is also owned by News Corp.

He paid $57.25 million last year for both the space and a three-bedroom apartment one floor below, according to The Wall Street Journal. He is keeping the apartment.

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Opened in 1990 in the then-artsy Grove, CocoWalk originally was a success, but it soon became a symbol of what happens when developers and businesses get a little too starry-eyed and lose touch with a neighborhood’s original character. Today the center is a collection of tourist-friendly chain shops and restaurants that longtime locals view with disdain. Tenants include Gap, Fat Tuesday, Cheesecake Factory, Starbucks, and Victoria’s Secret. According to the Miami Herald, the mall has a 20 percent vacancy rate, almost unheard of in other parts of Miami as the retail market continues to explode. But a Cinépolis movie theater, which shows a mix of Hollywood hits and indie fare, has proven to be a success in recent years.

From the news release, it seems Federal plans to help integrate the property back into the neighborhood.

“Partnering with neighborhood experts, we see significant opportunity to transform and remerchandise a property at the center of Miami’s most authentic district,” Jim Taylor, the company’s executive vice president, said in the statement.

“Local, regional, and national retailers and restaurateurs are increasingly seeking walkable environments where they can connect year-round and throughout the day with their customers. Their enthusiasm for CocoWalk’s location will drive a powerful merchandising mix that captures the Grove’s vibe,” added minority equity partner Michael Comras.

A renovation is planned, though no details are available.

However, the Grove is undergoing a bit of a resurgence. Hip local establishments like Panther Coffee and Harry’s Pizzeria are slated to move into the neighborhood, plans are still underway to reopen the historic Coconut Grove Playhouse, and starchitects like Bjarke Ingels and Rem Koolhaas are behind the designs for new residential towers.

In other words, it seems like the new owners certainly want a piece of the new Grove and hope to find a way to make the out-of-place CocoWalk fit the neighborhood’s reemerging character.

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An affiliate of Coral Gables-based Fortune Capital Partners, RW 244 Biscayne Ret, sold the 66,207-square-foot commercial space at 244 Biscayne Boulevard, according to Miami-Dade County records. Fortune originally acquired it in an off-market deal in November 2010.

Keith D. Stoltz, Stoltz chairman, president and CEO, is listed on the buyer’s corporate records.

Stoltz also acquired a $20 million loan from Bank of America, according to county records. Tenants of the building include CVS, Smoothie King and Orange Theory Fitness.

Stoltz is based in Bala Cynwyd, Pennsylvania. The company owns and manages more than $1 billion worth of real estate, including retail, office, industrial and land, according to its website.

A CBRE listing shows the space is 66.8 percent leased and includes a 126-space parking deck. CBRE declined to comment.

Vizcayne, at 253 Northeast Second Avenue, includes two nine-story buildings and 849 units. The towers were completed in 2008, according to property records. Cabi Developers developed the project and Fullerton-Diaz was the architect. Dwyane Wade listed his penthouse unit there in 2013.

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Michael Simkins wants to build a 633-foot, three-sided tower that twists upward from a pedestal to heights taller than the Space Needle. Each wall will bear a sign as large as 30,000 square feet that flashes static and animated advertisements at up to one per every six seconds, shining 24-7 over I-95, I-395 and the Dolphin Expressway.

Combined, the five billboards included in the project — including two on the pedestal over a pedestrian promenade — stretch about two acres. They can be seen from north, south, east and west.

“The iconic tower will elevate the city’s brand on a global level, enhance the city skyline, and complement and enhance the surrounding community,” Simkins wrote in a statement issued Thursday.

Dubbed the Miami Innovation Tower, the building at 1031 NW First Ave. is part of a larger plan. It is proposed as beacon of capitalism in the heart of a four-block, nine-tower “Miami Innovation District” on the edge of downtown and Overtown, one of Miami’s poorest neighborhoods. Simkins’ architect, SHoP Architects, submitted plans to the city Monday for the district, comprised mostly of land owned by companies registered to the developer.

Simkins has been quietly pushing his project for more than a year, according to documents released late Wednesday by the Southeast Overtown/Park West Community Redevelopment Agency. Miami’s zoning administrator gave his Miami Innovation Tower plans a nod in March 2014, and in December the developer signed a covenant with the executive director of the redevelopment agency, which has to sign off on his sign application because it lies within the agency’s boundaries.

As part of that deal, Simkins’ Miami Big Block LLC and affiliates will pay the CRA $5 million before building the tower. Afterward, Simkins has agreed to pay the tax-funded agency at least $1 million a year, or 3 percent of his gross sales.

Miami commissioners, sitting as board members of the Overtown CRA, will vote on whether to ratify the agreement Monday.

Simkins declined repeated requests for an interview, but said in a statement issued through a spokeswoman Thursday that the structure will include restaurants, lounges, observation decks, plazas and gardens. He said the site in Miami’s Park West neighborhood was selected because of its proximity to a series of massive projects coming online soon, including the 27-acre Miami Worldcenter, and because Miami’s zoning code considered the property as the location for a future “media tower.”

“Designed by a world-class architecture firm, this iconic tower will comply with the required regulations and will be consistent with the many illuminated structures that currently define Miami’s skyline and reflect the city’s vibrancy and growth,” Simkins stated.

But it’s likely to be polarizing anyway, given the friction caused by Miami’s expansion of LED signs and murals. His project is similar to two controversial billboard towers planned years ago near the Adrienne Arsht Center for the Performing Arts by developer Mark Siffin. (They were never built.)

After The Herald revealed Thursday that a developer appeared to be resurrecting Siffin’s concept, Scenic Miami, a non-profit dedicated to Miami’s aesthetics, ripped the plans as illegal under the county’s sign regulations and called the tower the “most visually ugly structure in the State of Florida.”

“We’re appalled, truly appalled,” said Scenic Miami board member Nathan Kurland.

Others criticized how quietly the city and redevelopment agency have handled talks with Simkins. In his dealings with the city and CRA, the developer has drafted a high-powered team, including lobbyist and campaign consultants Steve Marin, and Barbara Hardemon, the aunt of Overtown CRA Chairman Keon Hardemon. Simkins’ companies have also contributed $5,000 to the campaign coffers of Teresa Sarnoff, the wife of downtown-area Commissioner Marc Sarnoff.

The developer has already drawn some unwanted attention in the neighborhood even before anyone knew his broader plans. Earlier this year, someone set fire to a backhoe used in the demolition of an old Overtown building being razed by Simkins. Some activists said the act of arson was the result of anger over Overtown’s gentrification, although police suspected a serial arsonist.

Simkins, however, said his family is devoted to Miami and Overtown. As part of his agreement with the CRA, which Woods said required public benefits, Simkins agreed to hire 20 percent of his subcontractors and 40 percent of his unskilled construction workforce from a local pool, with penalties of $10,000 and up for every tenth of a percentage he falls short. He agreed to pay living wages, based on the county’s wage scale.

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