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Elliman Report: Manhattan, Brooklyn & Queens Rentals 8-2020
MANHATTAN As the market continues to emerge from the lockdown and the transparency provided, rental price trends and the number of new leases signings continue to remain below year-ago levels. Net effective median rent, comprised of face rent less landlord concessions, fell 7.7% annually to $3,161, the third straight month of declines. New lease signings fell 23.7% year…
BROOKLYN Rental price trends slid as listing inventory continued to reach new records. Net effective median rent, comprised of face rent less landlord concessions, declined 0.7% to $2,995, the second annual decline after nineteen months of increases. Listing inventory more than doubled to a record 3,890 from the year-ago period, the most significant…
NW QUEENS The net effective median rent, comprised of face rent less landlord concessions, slid year over year for the fourth straight month while the market share of concessions rose annually for the fourth time in five months. Net effective median rent fell 8.5% to $2,622 from the same period a year ago. The market share of landlord concessions…
