Rising Housing Costs Threaten Longtime Residents in Brownstone Brooklyn


    Last year was a watershed year for housing costs in Brooklyn. Reports of increased housing costs just keep on coming. Sales prices for all kinds of housing jumped more than 13 percent in brownstone and North Brooklyn in 2013, according to a data released by real estate firm Ideal Properties Group.

    Rents have also soared, particularly in Bed Stuy and Bushwick, where they increased more than 15 percent in 2013, reported The New York Daily News based on info from real estate firm MNS. Average rent for a one-bedroom in Bed Stuy is now $1,835 a month. In Bushwick, it’s $2,099. Longtime residents are being priced out, said the story.

    FWIW, we know of at least two buildings in Bed Stuy that were emptied of longtime tenants seemingly overnight, renovated over a few months, and then rented out in a matter of days to young, mostly white tenants.

    A report out by the city’s Economic Development Corporation attributed an 8 percent jump in property values along the waterfront to the launch of the East River Ferry service, reported The New York Post.


    What's Happening