Landlords In New York City Offer Perks To Fill Vacant Apartments

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February 13, 2017

More than 30 percent of new rental leases in Manhattan and Brooklyn have giveaways such as free rent or brand-new appliances.

Business Insider reports that landlords are granting concessions in order to fill empty apartments. Roughly 18 percent of all leases in Brooklyn have built-in perks.

The median net effective rent in Manhattan — which factors in concessions — slipped year-over-year by 0.1% to $3,369, while the number of new leases signed dropped by 5% to about 3,200. Both the number of days on the market and the listing inventory were higher, suggesting that landlords had a harder time filling up vacant apartments.

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