Choosing to Rent in the Slope
This weekend’s The Hunt column in The Times was about a guy who decided to ditch his $2,500-a-month, two-bedroom unit in the Financial District that he’d lived in for a dozen years because the expense was too high, and ultimately settled on an $1,850-a-month, one-bedroom apartment in Park Slope. The article says “he was surprised…
This weekend’s The Hunt column in The Times was about a guy who decided to ditch his $2,500-a-month, two-bedroom unit in the Financial District that he’d lived in for a dozen years because the expense was too high, and ultimately settled on an $1,850-a-month, one-bedroom apartment in Park Slope. The article says “he was surprised by the high rents” in the Slope as well as how small a lot of the apartments were. Underlying all of this is a question about how much more affordable it is to rent desirable neighborhoods in Brooklyn, like the Slope, than in Manhattan these days. Yes, most of Brooklyn is still a lot cheaper than most of Manhattan, but to what extent is this true in Brooklyn’s most in-demand areas?
A Renter Trims His Sails [NY Times]
landlord- Nor do I feel entitled either, landlord. My closet friend is a landlord and I understand the pressures. What I do find shortsighted about the whole neighborhood discussion is the fact that too many people don’t seem to understand that the health of the city suffers because the poor are not a monolithic group of welfare folk. They are mostly working poor who do thousands of necessary jobs that help keep the city running- from driving cabs to washing windows and cleaning offices. Or serving your food- all chiefs and no indians does not work well. So no one deserves to live anywhere, basically, but a more pragmatic approach would work a whole lot better.
OK, so let’s say that all hardworking New Yorkers deserve to live in a neighborhood like Park Slope or Williamsburg if they want to, irrespective of income. Who then deserves to live in Hollis, Queens Village, Ridgewood or Brownsville? Immigrants? Prisoners? Random citizens, chosen by lottery?
If you want to argue that every neighborhood in NYC should be equally nice and well-served by transportation… OK, fine. But if they are not all going to be equal, then it follows that if some neighborhoods are bad, those are the ones that are going to cost less to live in.
With the dollar soon to be loosing value, you will see rent prices going up all over.
ACS – I will be curious to see what you will find in Manhattan for a reasonable price. My sister pays $7500 rent for a 3 bedroom in soho (and its a small 3 bedroom). I agree that the supply of good apartments in good places are small…but they do exist. Just make a harder effort to look.
bxgrl – I am not rich and I certainly don’t feel entitled to have a 3 bedroom across from central park. Neither should the poor feel any entitlement. Its supply and demand. Pure and simple. You would not ask really low rents if your property value and demand was high.
We live in North Slope now and are looking for a new place. The problems with Brooklyn are 1) the supply of quality apartments in good neighborhoods is so low. There just aren’t many good places. and 2) too many “quaint” spots that look good on paper, but are old, creaky, walkup floor throughs with bad floor plans. We’re now looking back at Manhattan because, though there is a price tradeoff, the options for a decent rental in Brooklyn’s good neighborhoods just blow.
We do have a renter now. Special bargain basement price because he’s our friend and the place still needs a little work.
DH, in about a year when we get our act together and finish painting and replacing the windows, you could rent our huge 800-sf one bedroom floor-through for $1200!!! Oh, but it’s true we’re much too far far away…..
dh- I agree. It’s crazy.
landlord- and you’re part of the problem.
“so if regular JOEs aint going to exercise that financial control/restraint, why would landlords stop asking these greedy prices.”
don’t underestimate the power of the regular joe.
this should be an interesting summer. Manhattan is a MUCH better value right now
for $2K/mo. 10 years ago you could get a really really nice 2br. anywhere in Bklyn except the Heights.