Douglas Elliman analysts report mixed news for Brooklyn landlords and rental agents and not great news for the same in Queens as we head into the end of the first month of 2016.
- Landlords in Brooklyn, Manhattan and Queens were forced into making concessions to attract renters, who cite affordability as a major impediment to signing a lease.
- Brooklyn rents remained strong for smaller apartments and weak for larger ones.
- Manhattan sees continued rental growth, according to Douglas Elliman analysts, although the rental rate has slowed since the end of summer.
- Median rental price in Manhattan increased 3.1% to $3,350 from the same period a year ago, rising for the 22nd consecutive month.
The premier event for luxury agents and brokers
Luxury Connect | Oct. 16-18 | Beverly Hills
Comments
Related Articles
WAV Group founding partner Marilyn Wilson let us in on seven trends the firm is seeing through its own industry and consumer research.
The first day of our live blog at Inman Connect New York.
Depending on Location, Queens is experiencing mixed real estate price growth from rentals to condo sales, according to Modern Spaces’s Orange Report, a quarterly market report on New York City real estate.
The children of immigrant families often face high expectations to take advantage of the educational opportunities available in the U.S. Their parents want them to enter respected professions that can be relied upon to give them a good standard of living after all the sacrifices that have been made to get them here.