MANHATTAN For the sixth
consecutive month, the year-over-year
median rental price fell below the prior year
level. Median rental price declined 2.8%
to $3,100 from the same month last year.
As a result, rental prices have generally
remained flat on a monthly basis since last
summer. The other price indicators also
showed similar declines. Average rental
price slipped 0.6% to $3,932 and average
rental price per square foot fell 3.7% to
$49.70 respectively from the same period
last year.

BROOKLYN All rental price indicators continued to post year-over-year gains. Median rental price rose 11.6% to $2,890 from the same period a year ago, marking the ninth consecutive monthly gain. These results outpaced the luxury market, whose median rental price increased 4.5% over the same period. Average rental price expanded 2.6% to $3,178 and average rental price per square foot increased 3% to $38.12 over the same period.