Brooklyn inventory to rise, vacancy stable

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Despite a projected 1,160 apartment units set to hit the Brooklyn market in 2010, the vacancy rate in the borough will stay relatively the same, according to the first-quarter market report from Marcus & Millichap. Apartment vacancy is set to hit 2.6 percent in 2010, according to the report, up just 0.2 percent from the current vacancy rate, despite the abundance of inventory that will enter the market. This prediction comes on the heels of improvement, price-wise, among apartments over the last year. The median price increased 8 percent to $117,360 year-over-year. TRD

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