September’s vacancy rate was the highest it’s been all year, hitting 2.6 percent in Manhattan (source: Douglas Elliman monthly report). The median net effective rent slipped slightly to $3,334, while the share of new leases with concessions hit 27 percent, up from 15 percent last year.

In Brooklyn, the net effective median rent fell by 6 percent to hit $2,757 in September — representing the largest drop since March 2015. Meanwhile in Queens, the median net effective ...

Third quarter of 2017 saw residential prices go up to new heights for homes in Brooklyn and Queens. In Brooklyn, median sale price went up to $790,000, which is $5000 below the record price hit in the borough last quarter (source: Miller Samuel quarterly report).

This indicates that the market has not yet reached its peak and is on the cusp of seeing average sales price break the $1 million threshold — $981,623 was the average sales price in Q3. Brooklyn ...