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Reports And Guides

January - 2015 Manhattan, Brooklyn and Queens Rentals

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Report Summary

Manhattan rental prices continued to exceed last year’s levels. Median rent rose to the third highest level since 2008. Landlord concessions, marketing times, and negotiability all fell as the market remained tight. We expect this pressure on prices to continue in the coming months as New York City’s economy continues to improve.


Rents in Brooklyn have been up year-over-year in all but two of the past 20 months. There has been more resistance by tenants to rising rents, but the use of concessions, marketing times, and negotiability all remain low. Tight rental market conditions are expected to remain in place throughout the first quarter.


Northwest Queens rental prices continued to rise across all apartment sizes. More than forty percent of all rentals were within new developments this month. The 1-bedroom rental market remained the largest, twice the size of the 2-bedroom and 3-bedroom activity combined.

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