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Elliman Report: Manhattan/Brooklyn Rentals 6-2013

MANHATTAN Median rental price increased by 1.9% to $3,195 from the same period last year as average rental price and average rental price per square foot slipped 0.8% and 2.2% respectively over the same period. On a quarterly basis, the median rental price of $3,195 is the highest we have seen in four years. The use of landlord concessions remained limited, accounting for only 3.4% of rental transactions with an average amount equivalent to one month’s rent…

BROOKLYN The median rental price in Brooklyn was $2,737, up 13.5% year-over-year, the biggest jump since August 2012. Average rental price and rental price per square foot also showed large gains, surging 13.6% and 9.5% over the same period…

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