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After ramping up in the spring and summer, residential rents in Brownstone Brooklyn began to ease in October and continued to decline through the end of the year. That’s the big take-away from Ideal Properties‘ year-end report. Not surprisingly, supply was up by more than 50 percent over 2007 for one-, two- and three-bedrooms; the number of available studios rose only 17 percent. With greater competition for tenants, the percentage of No Fee apartments also rose from about 2 percent to over 20 percent. Landlords aren’t getting too desperate yet though. According to the report, “unlike their Manhattan counterparts, Brooklyn’s prime neighborhoods’ landlords have not started offering ‘first month free [rent].'”


What's Your Take? Leave a Comment

  1. Miss Chiff…you’re right…cornerbodega must have extreme cranial trauma from hitting his/her head against the wall so many times.

    cornerbodega, is there anything that you actually know something about??? Maybe how to pack as much dish washing soap possible up against a glass storefront?

    You surely don’t know squat about the Bed Stuy rental market. Go pour someone a coffee with too much sugar in it.