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Elliman Report: Manhattan, Brooklyn & Queens Rentals 6-2018

MANHATTAN Manhattan rental price trends continued to decline as landlord concessions expanded year over year for the 37th consecutive month and net effective median rent, defined as face rent minus concessions, fell annually for the sixth time in the past seven months. The market share…

BROOKLYN The Brooklyn rental market continued to soften. The median rental price minus landlord concessions declined for the seventh consecutive month on a year over year basis. Net effective median rent fell 2.2% year over year to $2,751, and the market share of landlord…

NW QUEENS The northwest region of Queens experienced its sixteenth consecutive year over year rise in the market share of monthly landlord concessions. Net effective monthly median rent fell 2.7% to $2,745 from the same month last year. The overall…

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