The Real Deal New York

Scorecard: Brooklyn and Queens outpacing Manhattan rental development

By Will Parker | March 23, 2017 08:00AM

From the March issue: An estimated 372 new Manhattan rental units landed their temporary certificates of occupancy in January, meaning tenants can begin moving in, according to a TRD analysis of Department of Buildings filings.

In Brooklyn and Queens, a combined 672 new units received TCOs. Together, the two boroughs continue to outpace Manhattan when it comes to churning out new rental units.

As for new development rental prices, Manhattan three-bedrooms leased for a startling $15,845 on average.

In Brooklyn and Queens, the average new-development three-bedroom is still going for less than $6,000.