Pick a New York City Borough: Rents are Falling, and Fast
ByHere’s some good news for New York City apartment-hunters: Manhattan rents dropped 3.8 percent in March from a year earlier, the most since 2011.
The news is even better for tenants looking in Brooklyn and northwest Queens. Rents dropped 6.3 percent and 6.4 percent respectively, and landlords offered so many move-in incentives that they set records for giveaways, according to reports Thursday by appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate.