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Elliman Report: Manhattan, Brooklyn & Queens Rentals 11-2019

MANHATTAN  After trending lower since the summer, the rate of year over year growth of net effective median rent, median face rent, less free rent, broker commissions, and other landlord concessions, saw its most significant year over year increase in more than seven years. Net effective median rent…

BROOKLYN  Net effective median rent has increased year over year for the twelfth straight month, helped by the continuing decline in market share of landlord concessions. The net effective median rent increased 4.3% to $2,855 from the same period a year ago. Rentals with a landlord concession, defined as free…

NW QUEENS  Both by price strata and the number of bedrooms, the median rental price grew the most at the upper end of the market. Net effective median rent, defined as median face rent, less free rent, and broker commissions rose 4.6% to $2,878 from the same period last year. While luxury median rent, representing the top 10% of the market, jumped…

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