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June - 2017 Manhattan, Brooklyn and Queens Rentals

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Report Summary

The number of new leases in Manhattan increased more than 26%from the same period last year. The market share of landlord concessions remained more than double the year-ago level and new development median rent moved higher as average size increased.

In Brooklyn,the number of new leases surged as median and average rent declined. Landlord concessions, the second highest on record, were nearly triple the year-ago level.

Over in northwest Queens,prices moved higher as new development exceeded one third of rental activity and landlord concession market share was four times higher than last year.

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575 MADISON AVENUE, NEW YORK, NY 10022. 212. 891.7000 © 2017 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