Renters Seek Cheaper Digs in Manhattan as Brooklyn Prices Soar

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As the difference in price between Manhattan and Brooklyn narrows — $210 at last count — more renters are eschewing Brooklyn in favor of Manhattan, according to a story in The New York Daily News. The attitude seems to be “if I’m going to pay through the nose, I may as well be in Manhattan.”

The renters profiled found better deals on the Upper East Side and Upper West Side than they did in Brooklyn’s most expensive neighborhoods: Brooklyn Heights, Dumbo, Williamsburg and Park Slope. One couple is paying $3,000 a month for a one-bedroom garden apartment in a brownstone building in the West 70s. The same apartment in Brooklyn would be about $500 more, according to a broker quoted in the story.

In 2012, the Wall Street Journal had a very similar story about an ad exec who traded Williamsburg for the Lower East Side. But the most expensive real estate in Manhattan is still more than in Brooklyn, according to the News.

Soaring Brooklyn Rents Have Tenants Searching for Affordable Apartments — in Manhattan [NY Daily News]

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