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[Elevated] 10-2012 Manhattan/Brooklyn Rental Report


Last month we created and published a new report on the Manhattan rental market for 10-2012 [1].  This is part of an evolving market report series I’ve been writing for Douglas Elliman [2] since 1994.


[North, Northwest Regions]

Here’s an excerpt from the report:

MANHATTAN …The Manhattan vacancy rate fell to 2% from 2.32% in the same period last year. Consistent with this decline, rentals with landlord concessions had single-digit market share; approximately 4% of all new rentals had some form of concession, compared to 25% two years ago…

BROOKLYN …There were 23.2% more new rentals in October than there were a year ago, as high rent levels caused more “churn” in the marketplace. The jump in listing discount and days on market also reflected landlords tending to push for rent increases at the time of lease renewals….

You can build your own custom data tables [3] on the Manhattan rental market using quarterly data – our new monthly format will be available online shortly and we will be phasing in monthly charts to our rental chart gallery [4] soon.

The Elliman Report: 10-2012 Manhattan Rentals [Miller Samuel [1]]
The Elliman Report: 10-2012 Manhattan Rentals [Prudential Douglas Elliman]