MANHATTAN Manhattan housing price gains pulled away
from the other boroughs as rents expanded
for the 12th consecutive month. Median
rental price jumped 8.9% to $3,375, the
second highest level reached in more than 7
years. Average rental price moved up 4.1%
to $4,093, the highest level reached in nearly
5 years. Smaller apartments such as studios
and 1-bedrooms tend to rent for a higher per
square foot than larger apartments…

BROOKLYN For the first time in 5 months, the Brooklyn
median rental price posted a year-over-year
decline. Median rental price slipped 0.9% to
$2,863 from the same period last year. Average
sales price also moved 0.6% lower to $3,160
over the same period. Average rental price
per square foot edged 1.3% higher to $38.63
from the same period, reflecting more price
growth in the smaller apartment submarkets.
Studio and 1-bedroom apartments posted
year-over-year gains in median rental price
as larger sized apartments continued to see
weaker performance…

QUEENS The northwest Queens rental market, which
includes Long Island City, Astoria, Sunnyside
and Woodside showed price stability in
February. Median rental price was $2,600,
unchanged from the same period last year.
Average rental price edged 1.3% higher to
$2,784 and average rental price per square foot
slipped 3.7% to $40.93 respectively over the
same period. Median rental price was $205 less
than Brooklyn and $775 less than Manhattan.
Luxury median rental price increased 10.5% to
$4,500 from the prior year period in contrast to the stability seen in the overall market…