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Elliman Report: Manhattan, Brooklyn & Queens Rentals 7-2019

MANHATTAN All three rental price trend indicators have shown significant year over year gains in recent months as the use of concessions across the market slid. Median face rent rose 5.7% to $3,595, and average face rent increased 7% to $4,292 respectively from the year-ago period. Net effective median rent…

BROOKLYN Median face rent, the median rent before including payment of broker commissions or free rent, tied last month’s $3,000 record after eleven years of tracking, rising 1.7% year over year. The median net effective rent rose year over year for the eighth…

NW QUEENS After a four-month run of tightening conditions, rental price trends softened as the use of concessions expanded. Median net effective rent, inclusive of free rent and broker commissions, declined 3.9% to $2,837 after rising year over year…


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