Brooklyn Apartments No Bargain Compared to Manhattan
While it’s not exactly breaking news that rents in Park Slope and Williamsburg are very high, did you know that median rents in the two neighborhoods are steeper than they are in Hell’s Kitchen and the Lower East Side? The Observer has an article this morning about how rents in A-list Brooklyn neighborhoods continue to…
While it’s not exactly breaking news that rents in Park Slope and Williamsburg are very high, did you know that median rents in the two neighborhoods are steeper than they are in Hell’s Kitchen and the Lower East Side? The Observer has an article this morning about how rents in A-list Brooklyn neighborhoods continue to rise while prices in the Manhattan rental market begin to dip—taken together, the trends suggest that Brooklyn’s days of being an affordable alternative to Manhattan are long gone (as if anyone needed a newspaper to tell them that!). According to listings on StreetEasy, the median monthly rent in Park Slope is $3,050, while Williamsburg’s median is $2,900. Both numbers are higher than the median rent on the Lower East Side ($2,700). In addition, rents in prime Brooklyn neighborhoods have gone up at a startling pace over the past couple of years: The median rent for Park Slope in ’05 was a comparatively affordable $1,090. Conclusion, per the article: “Queens, anyone?”
Park Slope Living at Manhattan Rents! [NY Observer]
Photo by DEDE_LE
I was discussing this with a coworker moments.
Apparently in the 1970s, townhouses in prime Park Slope (east of 7th, north of 9th) sold for more than houses in Chelsea.
So, perhaps this isn’t such a new phenomenon after all…
I live in a bronwstone by the Park and am an artist. I’m also young, single and gay. So there go all your PS stereotypes. Just sayin.
When I moved from Manhattan to Brooklyn, it was not for cheaper housing, but because I prefer it.
I pay more to live in Park Slope than I did to live in Manhattan (although I now own instead of rent) but you couldn’t pay me at this point to move back to Manhattan.
I freakin LOVE Park Slope. No desire to leave at all. I don’t even like leaving on the weekends.
and honestly as “cool” as the LES is its still a dump and most of the apartments are dumps. Paying $1700 for shit apartment in a 6 floor walk up sucks. $1700 will get you a similar sized apartment in the nicest area of brownstone brooklyn with a nicer kitchen and a less shitty building. And more subway options and food other than expensive french bistros and garbage mexican and chinese.
Check this place out. Sweet deal next to booming BAM Cultural District. Great investment!
http://tinyurl.com/34tes5
Agreed that the cited stats are useless. Even assuming that using Streeteasy data is valid, the post conveniently ignores the data one line down: the median rent PER SQUARE FOOT is 36% higher on Lower East Side than in Park Slope. I could go on, but why bother?
“artists, designers, musicians, architects”
most designers and architects are loaded unless they suck.
also the western edge of park slope and gowanus has tons of musicians and artists. Union Hall, Southpaw, Brooklyn Lycem and Issue Project Room all have great acts and exibits. Not all park slope is huge brownstones by the park.
News is exciting for those that may have purchased in other brooklyn nabs like Prospect Heights and Crown Heights. Large detailed apartments from $1500 to $2500 are vastly available.
this study is bogus
ive seen a shitton of studios for around 1300 on craigslist in north park slope over the last few days. Ive looked at apartments that were well over 600 sqf for around 1700 on 5th ave north of union st.
and williamsburg i know someone who pays 3300 for a 3 bed that has the entire bottom floor of a building and the largest yard I have ever seen. Its right off bedford.
that shit will not happen for those prices in hells kitchen or LES. It has nothing to do with park slope and williamsburg being nicer than hells kitchen and LES. You get more space in brooklyn for the money.
“The interesting cultural nexus of artists, designers, musicians, architects, etc — many of them prefer Brooklyn.”
But not Park Slope, unless they just starred in ‘Atonement’ or sold the movie rights to their hit literary novel. Otherwise, they are moving to East Bushwick or Crown Heights.