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Reports And Guides

June - 2018 Manhattan, Brooklyn and Queens Rentals

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Report Summary

Manhattan’s vacancy rate fell year over year as concessions kept vacancy in check but didn’t keep rents from falling.  The market share of concessions has been rising year over year
for more than three years.


In Brooklyn,  net effective median rent declined year over year for the seventh consecutive month. The number of new leases also declined as landlords were more effective negotiators at the time of tenant lease renewal. 


The northwest region of Queens continued to see rising concessions and softening rents.  Nearly one-third of new rental activity came from new development projects.

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