Brooklyn Rental Market More Stable Than Manhattan
Good news from the New York Observer about the Brooklyn residential rental market: Evidently the smaller properties and more diversified owner base is making for smoother sailing than in Manhattan where a few large companies are being forced to offer increasingly sweet incentives: For now, most of Brooklyn’s smaller landlords are living in a world…
Good news from the New York Observer about the Brooklyn residential rental market: Evidently the smaller properties and more diversified owner base is making for smoother sailing than in Manhattan where a few large companies are being forced to offer increasingly sweet incentives:
For now, most of Brooklyn’s smaller landlords are living in a world apart from the rough-and-tumble Manhattan market, where rents are already falling in several neighborhoods, and panicky property owners are slashing rents, sometimes by hundreds of dollars, and offering any incentive they can think of to help put tenants in their units. In Brooklyn: not so much.
Have any brownstone owners had to rent out their garden apartment recently? How did it go?
Brooklyn Rent Check [NY Observer]
“however the diversity of manhattan doesnt really mean the diversity lives there. All those Nigerians on 28th street certainly dont live there.”
My brother is a commerical photogrpaher who lives in his studio in Chinatown. He’s black.
“retarted?”
If you are going to throw this word around might as well spell it correctly bodega. Kind of hurts your point otherwise.
definition of irony: calling someone retarded and misspelling the word.
Fsrq, as Wasder said, this is a blog about brownstones. Why even be here if you find them so awful?
And again, there are people who want to live in brownstones, and those who don’t. Those who do are not going to rush over to some condobox turned rental, just because it is now a rental. It’s more than just basic shelter issues or price, it’s a lifestyle and aesthetic choice. The demand for brownstone apartments will stay current, or may even go up, as more and more condos go rental. Not everyone wants to live in a new apartment, especially many of the bland, cookie cutter, white boxes that are going rental.
Fsrg,
I don’t think you quite understand that the economic crisis is most likely going to have a significant impact on the way Americans live their lives. People are downsizing, they are realizing what is truly important in life and they are spending their money more wisely. They are also CRAVING a sense of community lost in the past couple decades due to greed, money and power. People are looking to simplify their lives. That’s what I’m hearing from nearly everyone.
There will of course be people interested in apartment buildings with all the bells and whistles, but I think that those people are a smaller group than they were 5 years ago.
We talk here about how ugly some of these buildings going up are…you think they’re ugly now…?? Wait 10 years. Unless they are something special or designed by someone of note, they are going to be dated, ugly white boxes in the sky.
I think as people become more careful with their money they will use it towards things of higher quality. I know a few people moving to NYC in the next couple months, abandoning their 3000sf homes out of state for 800sf apartments in NYC and couldn’t be more thrilled about it. This is purely anecdotal of course, but I think brownstones will fare quite well because they are on the receiving end of the very real sense of community that they foster and the somewhat perceived sense of quality that they harbor.
(We all know they are money pits to a certain extent, but they are undoubtedly constructed of higher quality than most things built today and certainly contain elements of incredibly artistry as seen by yesterday’s woodwork in the HOTD)
P.s. I never want to live in a building with an elevator.
Who else but the few delusional cheerleaders on here can, with a straight face, claim that BK will be immune from sales/rents taking a deep dive. I mean really? Do you live in a bubble? Whatever happens in Manhattan, and its going to be bad, will be worse in Brooklyn. Theres already deals in the West Village, and don’t kid yourself theres no place in Brooklyn thats close to WV…
“Prices are declining citywide as the protracted U.S. housing slump belatedly reached New York following upheaval in the financial sector. Cheaper, outlying sections of the city like Brooklyn are at relatively more risk than is the commercial and cultural center of Manhattan during such times, said Jonathan Miller, CEO of appraisal firm Miller Samuel.”
Are people like Dibs regressing from just ignorant and stupid to full blown retarted?
im not gonna lie. almost every landlord ive had has been a total asshole. I rented from this nice old lady in college and she was great but other than that its been pretty shitty.
it doesnt make sense why tho because I’m helping them make a living or pay for their house and they’re helping me have a place to live so Im not on the street. It seems like a decent and normal interaction between two people that need each other but for some reason the landlord always thinks they’re better and I guess thats what makes them an ass.
i guess its like a relationship where one person is always on the look out for someone better to fuck. And that person you’re looking to fuck will pay more money than me…
Dibs, maybe fsrq wants a brownstone with one of these: http://www.tkaccess.com/stair-lift/
rents peaked last year, heading south
rental demand down, harder to rent units, pricing dropping and will drop more
new construction condo inventory and rentals will get hammered
some professional owners say they don’t see much difference yet, some say they see a lot of difference