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Reports And Guides

October - 2018 Manhattan, Brooklyn and Queens Rentals

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Report Summary

The market share of concessions used by landlords continued to rise across the region.


Landlord concessions within the Manhattan rental market increased year over year for the forty-first consecutive month resulting in the lowest October vacancy rate in nine years.  Rental price trends generally moved higher in studio and 1-bedroom markets while sliding for larger apartments.


The Brooklyn concession market share has increased annually for thirty-three months.  Overall face rent indicators skewed higher because new development rents rose faster than existing rentals. 


The northwest region of Queens experienced a surge in new leases as net effective median rent slid.  Nearly forty-three percent of rental activity came from within new development projects.

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