New York apartment concessions rise as rents fall

``Concessions like one month of free rent more than doubled from a year ago in April to the second highest on record, to 28.6% of all new leases, a report released Thursday by Douglas Elliman real estate showed. ... "It may be a sign that we're sort of at this point where concessions are working, but they can only do so much," said Jonathan Miller, CEO of the real-estate appraiser Miller Samuel. "The face rents themselves are going to have to actually fall and we're seeing a little bit of that now." ''