We have just released the “Elliman Report: Manhattan, Brooklyn & Queens Rentals” for July 2016, the leading resource on the state of the rental market. As always, our market reports are produced in conjunction with Miller Samuel to provide you and your clients with the most comprehensive and neutral market insight available.
Manhattan rents moved a little higher, helped by an increased use of concessions by landlords. Smaller apartments continued to see the largest rent increases.
For the first time this year, Brooklyn rents slipped despite gains in the luxury market. There were more concessions given this year as renters resisted price increases at time of lease renewal.
Consistent with the region, the northwest Queens rental market weakened in July, more so with larger apartments. Marketing times were a bit faster while negotiability remained about the same as last year.
At Douglas Elliman, we are constantly looking for ways to provide our clients with better information, empowering them to make more informed decisions. Our efforts to create this market report series reflect our strong belief that access to timely information is a vital resource in a market that is constantly changing. Committed to providing the best information in the industry, we are proud to offer this service to our clients. Explore our full market report series covering Manhattan, Brooklyn, Queens, Northwest Queens, Long Island, The Hamptons, North Fork, Westchester, Putnam & Dutchess Counties, Fairfield County, Greenwich, Miami, Boca Raton, Fort Lauderdale, Palm Beach, Los Angeles and Aspen at http://www.elliman.com/marketreports
President and CEO, Douglas Elliman