Residential Rents in Brownstone Brooklyn Receding
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…
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].'”
“Trust me, this isn’t an environment where the majority of tenants can demand rent decreases from their landlords.”
I no longer trust “Hedge” Fund managers.
“BHO…you obviously have no clue…”
Yada yada yada…Multiple posters are calling you out on your $1,200 – $2,000 dream. That’s a clue. I was bitter until October. Now I’m better.
***Bid half off peak comps***
Brownstones Half Off it’s not nice to tease the Asshats. They are going thru emotional changes this year. Please show some sympathy to the retards, be nice to a Asshat!
Thee What
Someday this war isgonna end…
I have to wonder how accurate this is, since the Ideal Properties office has only been open about 3 months.
How do they have info for the entire year?
They are also a very small agency, and might be working with a much smaller set of numbers.
I’m a fan (their office is on my corner) and I recommended someone to them. While they have some really nice listings, I also heard that they took my friends to places which were totally outside their stated price range. Usual broker crap, but really not great considering this person came across the country for one day to look at apartments, and the broker at Ideal didn’t take them to ANY of the apartments that they actually wanted to see.
I’m hoping that’s an isolated broker there, because they did a nice job with the space there on 7th and as I said…the listings look above average.
“Rents in other neighborhoods, specifically mine, since that is what I am familiar with, will stay pretty constant, and may even rise a small amount. Market rate in Bed Stuy/Crown Heights is around $1200-$1350 for a floor through in a nice brownstone on a good block.”
Nope! Those rents are back around 850-1000 a month. landlord who had apartments empty for months had a Come to Jesus moment in December. The lost revenue factored in their decision to lower the rent.
“It’s October that counts and now everything is trending down.”
Ding! Ding! Ding! Tell em again BHO!
***Bid half off asking price***
The What
Someday this war is gonna end…
“one trend: rents always go down around October until May…so what’s new?”
Uh, The Greatest Depression. Nice try though.
***Bid half off peak comps***
BHO…you obviously have no clue as to what the ownership of a property is all about and what the numbers might look like.
I now see a number of examples of where the term “bitter renter” comes from.
“In 5 years that place will be renting for almost $2,000 and covering 75% of the building carrying costs. I’ll be living there for free in 7-10 years!!!!”
Late night infommercial. Eric Estrada style.
***Bid half off peak comps***
Big deal a little drop. If you do not like the rent price move to New Jersey with the cows.
hannible….case in point. On a bad acid trip no doubt. Do some homework instead of just hoping. Wishing will not make it so!!!