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Elliman Report: Manhattan, Brooklyn & Queens Rentals 7-2018
MANHATTAN The Manhattan rental market showed a more significant share of landlord concessions and a continued decline in rental price trends. The market share of concessions, including free rent and brokerage commissions, rose to 35% up 8.5% from the prior-year month, the 38th consecutive month with a year over year increase. The market share of new development concessions was 57.5%, up 10.1% and the…
BROOKLYN Landlord concession market share in Brooklyn doubled while price trends were skewed higher by a pronounced increase in average square footage across nearly three quarters of the market. However, this rise doesn’t appear to suggest a trend towards larger apartment sizes going forward. The market share of landlord concessions nearly doubled to 41.4% from…
NW QUEENS Landlord concession market share in the northwest region of Queens declined after sixteen consecutive months of increases. Their overall market share fell to 32.3% with a 64.1% market share of landlord concessions new development rentals and a 20.8% market share of landlord concessions for existing apartments. Price trend indicators showed mixed results as the number…
