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Elliman Report: Manhattan, Brooklyn & Queens Rentals 10-2020

MANHATTAN After months of price declines, the number of new leases rose for the first time since the previous summer. There were 5,641 new leases signed during the month, surging 33.2% from the same month a year ago, representing the first increase since July 2019. The influx of new lease signings…

BROOKLYN While the borough’s rental price trends haven’t seen the same level of declines as Manhattan and Northwest queens, listing inventory has increased to record levels, and the market share of landlord concessions have reached their second highest level in a decade. Listing inventory…

NW QUEENS Unlike Manhattan and Brooklyn, the northwest region of Queens has not yet experienced more year over year activity, despite the decline in rental price trends. The number of new leases declined year over year for the fifteenth consecutive month, falling 38.8% to 196. Net effective median…

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