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Elliman Report: Manhattan, Brooklyn & Queens Rentals 10-2021
MANHATTAN Net effective median rent, the face rent less landlord concessions, rose 17.9% to $3,382 from year-ago levels, yet was 0.8% below the same period two years ago before the pandemic, suggesting that the COVID discount for the overall market is…
BROOKLYN New lease signings surged 22% year over year to 1,699, the highest October total in thirteen years, and were 47.5% above the same period in 2019. The increase was the fourteenth consecutive month of year-overyear gains. The weakness in overall price…
NW QUEENS The number of new leases more than doubled year over year to 398, the highest October total in more than a decade, and was 26.3% above the same period in 2019. The increase was the seventh straight month of year-over-year gains. Net effective median rent, the face rent…
