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April - 2018 Manhattan, Brooklyn and Queens Rentals

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Report Summary

Manhattan's rental market reached the third highest recorded landlord concession market share in seven-and-a-half years.  Market share of studios and one-bedrooms has expanded as larger apartment shares have slipped. 

In Brooklyn, the rental market reached the highest recorded market share of landlord concessions for the fifth consecutive month and there was a decline in year-over-year net effective median rent for the eleventh time in twelve months.

The northwest region of Queens had the fifth record market share set for landlord concessions in the past seven months. There was the largest new development market share in 18 months.

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575 MADISON AVENUE, NEW YORK, NY 10022. 212. 891.7000 © 2018 DOUGLAS ELLIMAN REAL ESTATE. ALL MATERIAL PRESENTED HEREIN IS INTENDED FOR INFORMATION PURPOSES ONLY. WHILE, THIS INFORMATION IS BELIEVED TO BE CORRECT, IT IS REPRESENTED SUBJECT TO ERRORS, OMISSIONS, CHANGES OR WITHDRAWAL WITHOUT NOTICE. ALL PROPERTY INFORMATION, INCLUDING, BUT NOT LIMITED TO SQUARE FOOTAGE, ROOM COUNT, NUMBER OF BEDROOMS AND THE SCHOOL DISTRICT IN PROPERTY LISTINGS SHOULD BE VERIFIED BY YOUR OWN ATTORNEY, ARCHITECT OR ZONING EXPERT. EQUAL HOUSING OPPORTUNITY. CalBRE# 01947727