Concessions are Brooklyn’s “worst-kept secret” apparently. In order to fill high-end luxury rental units about 48 percent of developers — as of February — are cutting deals with tenants to stave off the competition to the point where tenants receive free rent for an average of 1.4 months, according to the New York Times. The number of concessions offered at the same time last year was around 16 percent. A report prepared by Douglas Elliman […]
source https://therealdeal.com/2018/03/17/juking-the-stats-brooklyns-developers-aim-sky-high-but-concessions-tell-the-real-story/
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