AvalonBay’s Rent Concessions Jump in New York, San Francisco

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  • Landlord contending with increased supply, sluggish job growth
  • Rent growth on new NYC leases ‘stubbornly low,’ Breslin says

Apartment landlord AvalonBay Communities Inc. gave renters concessions worth $300,000 in the second quarter, four times more than in the same period a year earlier, as enticements to sign leases.

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