The average residential rental prices ticked up modestly in the New York City boroughs of Brooklyn and Queens in August, while Manhattan and the Bronx posted slight declines — but prices in all four of those boroughs are nonetheless significantly up year-over-year, in another welcome sign for the resurgence of New York real estate.

The latest reports from NYC-based MNS Real Estate reveals that overall average rental price in Brooklyn increased by 1.97% last month, from $3,559 to $3,629. Crown Heights was the neighborhood with the largest uptick within the borough, with studios studios up 10.1%, from $2,111 to $2,324. On the other end of the spectrum, Greenpoint was the Brooklyn neighborhood with the biggest monthly decrease, down 7.7% from $3,699 to $3,415.

Lynn Pollack

 

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