Rents Surge in Greenpoint

DNAinfo reported that Greenpoint has seen a 20 percent rent hike this year, according to a rental survey compiled by MNS. As DNAinfo said, “Average studios skyrocketed from $1,875 to $2,688, one-bedrooms from $2,411 to $2,685, and two-bedrooms from $2,722 to $3,036.” That’s an average of $457 higher than last spring. New development 60 Franklin Street and 305 McGuiness Boulevard were two big causes of the increase, and many more new buildings are planned for the neighborhood. (Mega development Greenpoint Landing should begin its land-use review process this summer.) MNS Chief Executive Officer Andrew Barrocas said to expect “continuous growth” in Greenpoint. Meanwhile in Bushwick and Williamsburg, prices on one- and two-bedrooms in Williamsburg have slightly decreased, but prices in Bushwick have risen across the board. A Bushwick studio asking $1,275 last year has now risen to $1,750 a month.
Greenpoint Joins Bushwick With 20 Percent Rent Leap [Brownstoner]
Photo by Bridge and Tunnel Club