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Elliman Report: Manhattan, Brooklyn & Queens Rentals 3-2021

MANHATTAN  The trend of heavy new lease signings that began in October has continued to run through the month of March, helping to slow year over year rental price declines and show signs of emerging price stability. There were 4,986 new leases, an 89% annual surge…

BROOKLYN  Since last September new lease signings continued to show sharp annual gains, helping moderate the rate of year over year price declines and show signs of eventual price stability. There were 1,269 new lease…

NW QUEENS  Net effective median rent, the face rent less landlord concessions, fell year over year every month since last May, dropped 15.7% year over year to $2,293. The record annual decline was achieved last January at 22.6%. Unlike the…

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