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]
The first flaw with this is the premise that $2500 for a 2 bedroom in the Financial District is expensive. That sounds CHEAP to me.
So he ditched his cheap apartment in Manhattan and then was frustrated he couldn’t find a cheaper one in Park Slope???
Sheeesh…
“regular JOEs need to acknowledge that prime brownstone BK hoods are now home to richie rich folks – ie if the rent feels too high, you aint making enough and should start looking in queens or further south in BK”
This was Jimmy McMillan’s entire platform in the recent gubernatorial election. Sounds like the city needs him now more than ever…
regular JOEs need to acknowledge that prime brownstone BK hoods are now home to richie rich folks – ie if the rent feels too high, you aint making enough and should start looking in queens or further south in BK
10 years ago prime Brooklyn rented/sold for around half of Manhattan. Since then prices have doubled in Manhattan and quadrupled in Brooklyn.
Why do people want to live on a small island with 48.2 million tourists a year?
Rotten apple, juicy orange. Let’s not get ahead of ourselves.
***Bid half off peak comps***
“Brooklyn quality of life might be a bit better” – Its much better! I stayed at my sister’s townhouse in soho and the traffic was so loud in the morning (starting at 5am) that you wonder why they would want to live there.
As a park slope landlord the most common statment I hear from prospective tenants is how small the apartments tend to be in park slope. My 1 bedrooms are around 700sq feet. I always advertise the sq footage of the space.
Park Slope is a much better place to live than FiDi. Park, shopping, people, food, street life. Schools better in FiDi, and if you work there…. but Slope beats it on points by a mile.
As a commercial broker, i am constantly asked why BK rental costs so close or similar to cheap low end space in Manhattan. Cause i can get you way better for money and cause brooklyn is its own market, not entirely dependent on new york county. this is kings county.
Brooklyn quality of life might be a bit better than Manhattan so it should be no surprise that rents are higher here… Home prices are still much cheaper for now…