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Elliman Report: Manhattan, Brooklyn & Queens Rentals 12-2017

MANHATTAN The Manhattan rental market eased in the final month of 2017 with a record amount of landlord concessions and the fourth largest year over year decline in net effective rent in more than six years. After remaining elevated but stable throughout the year, the market share of landlord…

BROOKLYN Brooklyn rental price trends continued to show weaker trends with more concessions and fewer new lease signings. The market share of landlord concessions jumped to 46.1%, more than triple the prior year share and a new record. Concession market share for new developments…

NW QUEENS The northwest region of Queens, comprised of the neighborhoods of Long Island City, Astoria, Sunnyside, and Woodside set a new record for the market share of landlord concessions with softer rental prices. The market share of landlord concessions rose to a new record of 50.2% from…

 

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