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BROOKLYN'S (RENTAL PRICE) HOT (AGAIN)
June 15, 2015
A few months ago, the Brooklyn rental market showed signs of weakness. Is a cool-down afoot? Douglas Elliman's new monthly rental market report has a short answer: no way.
All the numbers were up in the BK for the second month running. The breakdown, per Thursday’s report: Median rental was $2,933, an increase of 4.8% over last year at this time, and its third-highest tracking since 2008. Average rental: $3,252—a jump of 4.3% over last year. The market share of larger rentals continued to rise, more luxury units hit the market (of course), and new rentals rose by 379%.