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Elliman Report: Manhattan, Brooklyn & Queens Rentals 2-2021

MANHATTAN  The sharp decline in rental prices has played a significant role in stimulating heavy new leasing volume. For the fifth straight month, new lease signings have set record highs in each of their respective months. The surge in affordability caused a surge in new lease signings since last Labor Day as tenants…

BROOKLYN  As indicated by the steady drop in rental prices, the continued gains in affordability brought in a surge of new lease signings as tenants moved around the boroughs looking for better deals as well as gains in inbound migration. New lease signings…

NW QUEENS  New lease signings rose year over year for the second time in three months as net effective median rent fell annually for the tenth straight month. Net effective median rent, the face rent less landlord concessions, fell year over year by 11.4% to $2,397…

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