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Elliman Report: Manhattan, Brooklyn & Queens Rentals 8-2019

MANHATTAN While the market share of landlord concessions remained high, they continued to grind lower. Upward pressure on rental price trends was created from the weaker demand in the purchase market. The market share of landlord concessions was 31.9%, down 2.8% from the same period last…

BROOKLYN Average and median rental prices reached new records this month with landlord concession market share continuing to ease. The median rental price rose 2.2% to a record $3,015, and the average rental price increased 8.4% to $3,507, respectively, from the same period a year ago…

NW QUEENS Rent price trends showed additional weakness for the second straight month despite the decline in market share of landlord concessions. Median rental price declined year over year for the second consecutive month by 1.2% to $2,960 from the same period last year. Net effective median rent…

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