Check the full version of these reports and individual reports at: https://www.newyorkmarketreports.com (https://www.newyorkmarketreports.com) This episode is brought to you by: http://www.theratnerteam.com (http://www.theratnerteam.com) Welcome to the Brooklyn Residential Rental Market Report for the month of September. Here we dig into the latest data and trends to find out what is really happening in the local Brooklyn rental market to help landlords, real estate investors, and developers make the smartest financial moves. So, what’s new in New York Real Estate? Let’s take a look at the numbers… Month over month, there were price increases in over half of Brooklyn’s neighborhoods. The hottest have been Cobble Hill, Bay Ridge, Boerum Hill, and Williamsburg. Rents in Cobble Hill are up 7.3%. Though DUMBO holds the title for most expensive studios and 1 bedroom apartments in Brooklyn. The most affordable rental apartments are being found in Bay Ridge. Most notable of all is the 14.5% spike in Boerum Hill studiorental prices. That’s adding about $309 per month to leases. Month over month, overall Brooklyn rents have risen 0.77%, to an average of $2,819 per month. Studio rental prices rose the most, gaining 3%, to $2,287 per month. However, new leases fell almost 28%, and days on market rose 2.5%, even though inventory fell 2.4% Year over year, Brooklyn has actually seen rental rates decrease 5.1% The strongest performer since last summer has been Greenpoint, with a 4.8% increase in rents. However, overall: New leases are down 4.1% OP + Concessions are up 11.4% Negotiability has risen a modest 0.5% Though inventory levels are down 1.4% And marketing time has dropped by 2 days If you look at this trending data on the graph charts, landlords should note that this is likely to be the best moment to sign new leases. At least until mid-2018. This is due to seasonal rental price dips and peaks. If you have vacant units, this is definitely time to fill them. If leases are signed in Oct through Feb, consider signing 15 to 19 month leases to get the units back during the best rental months to get the highest possible rent due to high seasonal demand.