Manhattan, Brooklyn rents see slight uptick in August: MNS

TRD New York /
Sep.September 13, 2013 02:07 PM

Average rents in Manhattan increased 1.36 percent in August, or $51.90 per month, compared to July, according to data from the latest MNS monthly rental market report.

Studio apartments — where average rents increased 3.64 percent month-over-month — and one-bedrooms — which saw  average rents jump 1.56 percent month-over-month — drove the upward growth, while two-bedrooms stayed relatively stable, nudging up 0.11 percent, the data show.

Harlem saw the greatest bump of all Manhattan neighborhoods with a 10 percent year-over-year increase in average rents, while the East Village bounced back from a downtick in July to register the highest month-over-month increase at 4.57 percent.

In Brooklyn, overall average rents increased for the fifth consecutive month, rising by 1.37 percent month-over-month, or $35.09 per month.

Two-bedroom units have seen double-digit average rent increases in several neighborhoods such as Dumbo, Crown Heights, Boerum Hill and Bedford-Stuyvesant.

Of all Brooklyn neighborhoods, Park Slope saw the highest month-over-month increase, with a 6.9 percent jump in average rents. — Hiten Samtani


Related Articles

arrow_forward_ios
Benchmark Real Estate Group's Aaron Feldman (left) and Jordan Vogel (right) with 25 Monroe Place in Brooklyn (Credit: LinkedIn)

Benchmark looks to sell BK Heights rental building for $70M

From left: 278 Henry Street and 296 Sackett Street

Brooklyn’s resi market saw 20 contracts close above $2M last week: Stribling

Brooklyn and Queens rents rise as incentives decline: Elliman

Brooklyn and Queens rents rise as incentives decline: Elliman

(Chart by Miller Samuel)

Cautious buyers are pushing up Manhattan rent prices

Why Brooklyn and Queens buyers are “camping out”

Why Brooklyn and Queens buyers are “camping out”

Real estate community and hipsters rejoice over canceled L train shutdown

Real estate community and hipsters rejoice over canceled L train shutdown

Manhattan rental concessions keep growing — especially in new dev

Manhattan rental concessions keep growing — especially in new dev

New York’s most expensive* rental is a One57 unit asking $125K per month

New York’s most expensive* rental is a One57 unit asking $125K per month

arrow_forward_ios