MANHATTAN The twenty-four month trend of Manhattan
median rental price growth came to an end
in March. On a year-over-year basis, median
rental price went negative for the first time since
March 2014, declining 2.8% to $3,300 from
the same month a year ago. Average rental
price followed a similar pattern, slipping 3.3%
to $3,989 over the same period. The decline
was spread across all segments of the market
whether by type or price…

BROOKLYN Brooklyn rental prices continued to rise as the
number of new leases surged. Median rental
price increased 2.7% to $2,775 from the same
period last year. Average rental price edged
a nominal 0.2% to $3,065 and rental price
per square foot increased 9.3% to $43.41
respectively over the same period. However,
luxury median rental price dropped 12.9% to
$5,227 over the same period, consistent with
trends in the other boroughs…

QUEENS The northwest queens rental market continued
to show mixed results as more new development
rentals entered the market, accounting for
25.5% of all activity. Listing inventory expanded
42.1% to 439 from the same period last year.
Median rental price declined 5.2% to $2,799
and average rental price slipped 2.1% to $2,927
respectively from the same period last year.
Median rental price slipped across all bedroom