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Elliman Report: Manhattan, Brooklyn & Queens Rentals 4-2021
MANHATTANÂ Despite some evidence of diminishing rental price declines in recent months, larger declines prevailed despite the record surge in new lease signings. The net effective median rent, the face rent less landlord concessions, fell 21.2% year over year to $2,791, the second-largest decline since the financial crisis thirteen years ago. This metric also fell…
BROOKLYNÂ Since September, new lease signings have experienced significant annual gains while rental prices declined sharply. The number of new lease signings surged nearly fivefold above the same period a year ago to 2,175, the highest level tracked. The yearago month of April was the first full month of the pandemic lockdown, and new lease…
NW QUEENSÂ New lease signings have shown very choppy conditions since December, resulting in alternating months with large annual gains and losses. For April, the number of new lease signings surged nearly six-fold above over the same period a year ago to 570, the highest level tracked in more than nine years. The year-ago month of April was the…
