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Reports And Guides

February - 2019 Manhattan, Brooklyn and Queens Rentals

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Report Summary

The market share of landlord concessions in Manhattan fell year over year for the second straight month after rising for forty-three. Landlords were better able to retain tenants as the sales market slowdown continued to drive rents higher.
In Brooklyn, there was rising use of the rental market by would-be buyers to ‘camp-out’ until they are comfortable with purchase market conditions. Net effective median rent rose year over year for the third straight month. Upward price pressure remained strong in the starter market.

In


Northwest Queens, the market optimism that developed before the Amazon HQ2 decision to withdraw mid-month was largely offset in the second half of the month. New leases fell year over year for the first time in seven months, and net effective median rent
fell year over year for the first time in four months.

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