MANHATTAN Median rental price slipped
3.1% to $3,095 from the same period
last year. This was the first year-over-year
decline since June 2011. Incentivized
by concerns over rising mortgage rates,
and heavy sales volume more renters
moved into the purchase market. The use
of concessions by landlords remained
limited to 2.7% of new rentals, averaging
a 1.2-month rental equivalent. There was
year-over-year median price growth in
the 2-bedroom and 3-bedroom markets
and modest declines in the studio and
1-bedroom markets…

BROOKLYN Median rental price increased
10.4% to $2,800 from prior year levels,
second only to the prior month which had
been a 5-year high. Average rental price
increased 16.8% to $3,179 from the same
month last year, which was more than
a 5-year high. Average rental price per
square foot expanded 15.9% to $38.05
over the same period…