Apartment rents rose the most in more than three years in Brooklyn, where a surge of high-end development is pushing up costs.
With the value of landlord concessions subtracted, the median rent in the New York borough climbed 5.9% from a year earlier to $2,914, the biggest gain since February 2016, appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate said in a report Thursday. It was the seventh straight month with an increase.
