MANHATTAN Manhattan rental price growth has showed
a bumpy but generally stable trend for each
month in 2016 on a year over year basis. Median
rental price was $3,399 in August, essentially
unchanged from the same period a year ago. The
market share of concessions was 12.1%, up from
7.4% a year ago. When considering concessions,
the net effective median rent slipped 0.5% to
$3,359 from the year ago period…

BROOKLYN For the second consecutive month in 2016, the
Brooklyn median rental price declined from the
same period a year ago. Median rent declined
1.9% to $2,895. Average rental price followed the
same pattern declining 1.5% to $3,219 over the
same period. The number of new leases jumped
35.8% to a record 1,495…

QUEENS The Northwest Queens rental market, including
Long Island City, Astoria, Sunnyside and
Woodside, showed gains across all price trend
indicators. Median rental price was $2,895, up
5.3% from the same period a year ago and was
identical to the Brooklyn median rent this month…