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September - 2019 Manhattan, Brooklyn and Queens Rentals

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Report Summary

In Manhattan, rising rents and falling concessions still define the rental market. Median net effective median rent rose year over year throughout 2019. Rents generally rose more quickly at the higher price strata and new development median rent rose more quickly than the existing median rent.
Brooklyn rental price trends continued to rise, and landlord concessions continued to slide. Net effective median rent rose year over year for the tenth straight month and concession market share has continued to decline annually throughout 2019.

In the Northwest Queens market, despite the decline in market share of landlord concessions, overall price trend indicators drifted lower. Net effective median rent stabilized after falling year over year in the prior two months.

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575 MADISON AVENUE, NEW YORK, NY 10022. 212. 891.7000 © 2019 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. DRE # 01947727