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August - 2018 Manhattan, Brooklyn and Queens Rentals

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Report Summary

The market share of landlord concessions in the Manhattan rental market increased year over year for 39 consecutive months and yet the vacancy rate fell to its lowest level in more than four years.

Brooklyn rental prices in aggregate were rising even though actual rents did not, as the market share of higher-priced new development apartments rose year over year for the seven straight month. 

Landlords are getting better at initial rental pricing in Northwest Queens as concession market share fell for the second consecutive month after sixteen months of increases.

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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. DRE # 01947727