Mixed news on Manhattan borough rentals

  • 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.

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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.