Jackson Heights Life

Thursday, May 14, 2015 6:45 AM

JUST RELEASED: Our exclusive April 2015 Elliman Report for the Manhattan, Brooklyn & Queens Rental Markets

We have just released the “Elliman Report: Manhattan, Brooklyn & Queens Rentals” for April 2015, 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 have increased for fourteen consecutive months, driven by an improving economy and tight mortgage lending conditions. Rents were higher for all sizes, but the largest increases were seen in entry-level apartments. Landlords are rarely offering concessions and both days on market and listing discounts remained low. These trends are expected to continue into the summer.
 
After showing signs of leveling off in recent months, Brooklyn rents rose to a new record in April. Rents were higher across most of the market including studio, 1-bedroom and 2-bedroom apartments, while weaker at the top of the market. Use of concessions by landlords and negotiability was limited. Tight conditions are anticipated to continue through the coming months.
 
Rents rose across all apartment sizes in the northwest Queens. There were a lot more 1-bedroom rentals than last year, attracting renters from Manhattan and Brooklyn seeking greater affordability. More newly developed apartments continued to enter the market.
 
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, Long Island, The Hamptons, North Fork, Westchester & Putnam Counties, FairfieldCounty, Greenwich, Miami, BocaRaton, Fort Lauderdale, Palm Beach, Los Angeles and Aspen reports at http://www.elliman.com/marketreports.
 
Warmest regards,
Dottie Herman
President and CEO
Douglas Elliman
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If you need assistance, contact:

Marlene Flores, 917-208-6709
Douglas Elliman Real Estate
marlene.flores@elliman.com