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]
Wasder – “And what is your investment in disabusing us of this wishful thinking?”
I think most people prefer to discuss reality rather than self-delusion – clearly you are not one of those people – I am sorry if I bursted your bubble – please skip my posts from now on.
Looks to me that about 70% of articles on Brownstoner are directly or indirectly related to Brownstone living.
The rest are usually about Williamsburg or Dumbo.
“despite the wishful thinking exhibited here, the flood of new condo-to-rental-buildings will be bad for Brownstone LLs.”
And what is your investment in disabusing us of this wishful thinking? As a Brownstone LL I certainly hope for sustained rental prices but I can’t say for sure that they won’t come down a lot. If they do come down there will be many factors, supply being one of them but not the only (or even the most important) factor.
And what I am saying is that coming on a board called Brownstoner and talking about how people would rather rent new construction rather than brownstone apts is not going to be a very satisfactory argument for you.
Wasder – no exaggeration – count’em
And what I said is that purposed apartments (i.e. those found in apartment buildings) are generally more desirable FOR RENTERS than those created in Brownstones (and rental prices bear this out) – which is why despite the wishful thinking exhibited here, the flood of new condo-to-rental-buildings will be bad for Brownstone LLs.
speaking of france and thrift has anyone seen the incredibly wonderful french documentary by Agnes Varda “The Gleaners?” Its quite apropos of this discussion.
There was a really great article in the Times yesterday about this very subject as it pertains to France, MM.
Did you see it…?
http://www.nytimes.com/2009/01/15/fashion/15paris.html?scp=1&sq=luxury%20france&st=cse
I welcome a new era of thrift. The amount of waste in this country is horrifying. One only needs to see the amount of garbage generated in this city, and multiply that by everyone in the country. We buy way too much crap that has no function, little shelf life, and is poorly made. Ditto for our clothing, too.
Relating back to Victorian homes, I see many similarities to the end of the Victorian era, where everything was overdone, overwrought, and overproduced, to it’s eventual ending in the simplicity and clean lines of the Craftsman/Arts and Crafts movement. I welcome a return of craftmanship in furniture and decor, and the whole mindset of reusing what you have, recovering furniture, buying flea market finds, and repurposing what’s in your home.
I think we are going to see more people sewing their clothing, or shopping for vintage, or just spending their money on good, basic pieces, not lots of throw away trendy junk. McMansions and huge, heat sucking homes are already a thing of the past, and those who have them are going to be hard pressed to sell them.
I think a return to sanity in our lives is long overdue. Historically, periods of great excess are always followed by periods of austerity, whether by choice or not. We are moving into one now, and better to embrace it, than cling to our junk.
“You may not like it but new development, restaurant reviews and general RE market entries outnumber Brownstone specific entries/discussions by of a factor of at least 10X”
10x is a big exaggeration but I also never said this site was only about brownstones. Its about life in brownstone neighborhoods which means various aspects of that lifestyle (restaurants, development, crime, parks whatever). My only objection or contention with what you wrote is that coming on this site and talking about how Brownstones are not as nice to live in as large rental buildings is a bit of a quixotic exercise.