Rent concessions way up in northwest Qns.
The level of northwest Queens leases with deals like a month without rent shot up dramatically in a year, a report has found. A typical concession, as it is called in the real estate world , is a month of free rent or no brokerage fee. And the amount of leases with concessions in the borough’s northwest section went up to 40.8 percent in July from 7.5 percent a year before. Douglas Elliman Real Estate released that finding last Thursday along with others in its housing market analysis of last month for Manhattan, Brooklyn and this borough’s northwest section — defined as Long Island City , Sunnyside, Woodside and Astoria. The singular rise in leases with concessions during the year leading up to July went way above those of Brooklyn and Manhattan. Those boroughs respectively saw the same number increase by 15.7 and 12.6 percents. Net effective rent in the portion of Queens analyzed — the median for how much is paid after a concession from a landlord — went up by 5.8 percent to $2,9...