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Elliman Report: Manhattan, Brooklyn & Queens Rentals 9-2019

MANHATTAN Price trends continued to rise while concession market share declined as spillover from the cooling sales market helped increase demand. Median net effective median rent, defined as face rent, less free rent, broker commissions, and other landlord concessions, has been rising year over…

BROOKLYN All price trend indicators pressed higher on a year over year basis as a weaker sales market helped drive additional rental demand. Net effective median rent rose 6.2% to $2,915 year over year, having posted annual gains during each month of 2019. Average face rent rose 7.6% to $3,366…

NW QUEENS The market share of landlord concessions has declined year over year in six of the past seven months as would-be buyers continue to “camp-out” in the rental market. Landlord concession market share was 33.6%, down 22% from the same period last year, and was the fifth decline in the past six…

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