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Reports And Guides

April - 2013 Manhattan And Brooklyn Rentals

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Report Summary

Year to date, Manhattan rents continued to rise at the same brisk pace as last year. The gains in rental prices have been consistent across all apartment sizes compared to a year ago. Landlord concessions were used sparingly and the vacancy rate remained below long-term averages. The continuing strength of the rental market has been somewhat surprising since the Manhattan sales market has also seen rising prices and sales volume. Tight credit conditions and an improving regional economy continue to keep pressure on the demand for rental housing.


After several months of rapid gains, Brooklyn rental price increases slowed in the month of April. However, the rapid pace of the market continued with brisk listing periods and the lowest listing discount seen in the new year. Competition from a robust sales market along with low mortgage rates are keeping increases in check. We anticipate similar conditions over the coming months.

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