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Reports And Guides

November - 2017 Manhattan, Brooklyn and Queens Rentals

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Report Summary

Overall, we have seen more high-end new developments entering the market which is driving overall price trends slightly higher, despite the high-end market remaining soft. New lease signings are down slightly in Manhattan and Brooklyn as tenants and landlords are showing more agreement on rents at time of renewal. Northwest Queens saw a jump in new leases as new product continues to enter the market.  We expect these trends will continue well into next year.

Manhattan’s market share gain of larger new units skewed “doorman” rents higher so median rent grew more than “non-doorman” median rent for the second consecutive month. After year over year gains for three consecutive months, vacancy slipped.

In Brooklyn, after six consecutive months of annual declines, the net effective median rent edged higher. The number of new leases fell across all size categories except for 3-bedrooms.

The Northwest Region of Queens saw the number of new leases surge while listing inventory slipped. The market share of landlord concessions remained elevated.


 saw the number of new leases surge while listing inventory slipped. The market share of landlord concessions remained elevated.

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