MANHATTAN The two year Manhattan rental price growth
streak nearly came to an end in February as
the use of concessions by landlords expanded
to a five and a half year high. Median rental
price edged up a nominal 0.2% to $3,382
as compared to the same period a year
ago. The pace of median price growth has
continued to fall since August. Average rental
price slipped 1.5% to $4,032 from the same
period last year, skewed lower by weakness
in the luxury market, accounting for the top
ten percent of all rentals…

BROOKLYN After lackluster rental price growth last fall,
Brooklyn median rent showed a larger gain
in February despite a surge in the use of
concessions by landlords. Median rental price
rose 7.3% to $2,787 from the same period
last year. Average rental price followed the
same pattern, moving up 4% to $3,047 over
the same period…

QUEENS The northwest Queens rental market posted
large gains in all price indicators as compared
to the same period a year ago. Median rental
price jumped 13.6% to $2,954 while average
rental price followed the same pattern, rising
8.4% to $3,019. Luxury median rental price,
reflecting the top ten percent of the overall
market, declined 3.4% to $4,345 over the
same period…