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Elliman Report: Manhattan, Brooklyn & Queens Rentals 1-2021

MANHATTAN  The continued decline in net effective median rent, record concessions, and high vacancy caused new lease signings to rise to a record for January over the past thirteen years. Net effective median rent, the face rent less landlord concessions…

BROOKLYN  Net effective median rent, the face rent less landlord concessions, fell year over year for the seventh straight month. The 13.8% year over year decline of this rental metric to $2,472 was the largest annual drop since 2008. The market share of…

NW QUEENS  The market share of landlord concessions rose 3.6% to 57.5% from the same period last year. The landlord concession rental equivalent surged year over year to set a new record of 3.4 months during a decade of…


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