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Reports And Guides

July - 2015 Manhattan, Brooklyn and Queens Rentals

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Report Summary

Manhattan rents increased for the seventeenth consecutive month to the second highest on

record. Smaller apartments continued to see the highest price increases. Marketing times were

faster and there were few concessions by landlords. We don’t anticipate much change in the

market over the next several months.

Like last month, Brooklyn median rent rose to a new record. The largest increases in rent were

seen in smaller apartments. The use of landlord concessions and negotiability between landlords

and tenants remained limited. These conditions are expected to continue into the fall months.

After months of cooling conditions, rents in northwest Queens jumped to a new record. Unlike

the other boroughs, more price increases were seen in larger apartments. Listing discounts from

asking rents continued to remain low.

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