A big increase in the number of new rentals in Brooklyn (59 percent) has led Douglas Elliman to conclude that renters are resisting rent increases by moving rather than renewing their leases. Nonetheless, rents increased in the double digits in November of this year vs. the same period the year before. The median rental price in Brooklyn increased 10.1 percent to $2,698 year over year. The price per square foot shot up 10.3 percent to $34.04. The explanation? Tight credit conditions in the sales market and improving employment. In Brooklyn, the increase was pretty consistent across the board, including luxury and regular rentals.
Market Report [Douglas Ellliman]
Rent Increases Meet Resistance in Manhattan and Brooklyn [TRD]
Photo by a.tanski
Who’ll Be the First to Buy This J.Crew Williamsburg Tote? [B+B] Construction Watch: Two City Point Residential Towers Will Top out…
The city has just started taking applications for two affordable housing developments at 25 Woodbine Street and 1238 Decatur Street…
Brooklyn, one building at a time. Name: Row Houses Address: 201-249 Lexington Avenue Cross Streets: Bedford and Nostrand Avenues Neighborhood:…
Oaxaca Taqueria is prepping to open soon at 417 Prospect Place in Crown Heights close to the Prospect Heights border….
Gowanus 163A 14th Street Broker: Ideal Properties Price: $1,550,000 Sunday 3:00 – 5:00 GMAP Bed Stuy 675 Lafayette Avenue Broker:…