Life’s gotten a little easier for the renting crowd, according to a new report from Brownstone Homes (a firm we’ll admit to never having heard of). In the third quarter, which is the period of biggest turnover, more than half of new leases in Brownstone Brooklyn were done at lower prices than the preceding period. In Brooklyn Heights and Park Slope, the reductions were as much as 15 percent. Not surprisingly, apartments are sitting on the market longer, resulting in a correspondingly higher overall vacancy rate. All fine and good, but we’d like to know something about the number of data points.
Brooklyn Rents Down, Apartment Vacancies Up [Brooklyn Eagle]
Leases Up, Rents Still Down in Brooklyn [Curbed]