The State of Brooklyn Rentals
After a sleepy first ten months of the year, the rental market in Brooklyn exploded at the end of the year, according to a year-end report from Ideal Properties Group. Only 10 percent of the year’s transactions happened in the first quarter of 2009, compared to more than 15 percent in December alone. Part of…
After a sleepy first ten months of the year, the rental market in Brooklyn exploded at the end of the year, according to a year-end report from Ideal Properties Group. Only 10 percent of the year’s transactions happened in the first quarter of 2009, compared to more than 15 percent in December alone. Part of that can be attributed to the fact that prices continued to adjust downward over the course of the year: Overall rents in Brownstoner Brooklyn declined just over 6 percent with two-bedrooms, the most ubiquitous format, declining an average of $225/month to $2,380. The percentage of No Fee listings also continued to rise. Brooklyn Heights continued to be the most expensive neighborhood to rent in: One-bedrooms averaged more than $2,500 a month and two-bedrooms topped $3,100.
Brooklyn ’09 Rental Report Smugly Lords It Over Manhattan [Curbed]
Brooklyn Rental Market Ends with a Bang [TRD]
I feel like I’m reading the ‘Still No Takers For Big Green Space on Baltic’ thread all over again.
Keep raising rents Bloomberg, Patterson and Washington need revenue big time. Homeowners are pretty much working for the government as collection agencies.
snark, and the exact same can be said on behalf of the people CHARGING the rent! there really really REALLY needs to be a resurgence of the squatter movement again.
*rob*
> what is there to know about the financial market?
A bit more than “what I want the price to be is what the price should be.”
rob, I get it: there was a triangle, and it had a unicorn friend. And then the dinosaurs all died and now that’s how the Saudis got all their oil.
Perfectly logical.
but of course homeowners are going to say “somethings right with the situation” because there’s more cah-ching in their fannypacks!
*rob*
My landlord initially raised my rent for 2010 by $30. I called the management company and mentioned it was pushing past comps in the area, and she said she’d check with the owner. I saw her on the street, she said she’d “put in a good word for me,” and the increase was rescinded.
what is there to know about the financial market? there’s only one thing that happens. people want your money, and they will scheme and cheat you out of it the best way they can and make you think that the product you are paying for is worth it. it’s like movie Rosemary’s Baby. class dismissed!
*rob*
Rob, I was going to stay out of it, but you really don’t know what you are talking about, as far as rents in BS. Yeah, you can get a POS apartment on a POS block for less that a thousand, but even the people who end up in them don’t want them, they have no other choice. Those who do have a choice can find nice floor through 1 or sometimes 2 bedroom apts in brownstones or small apartment buildings for the prices Dave said. For that, chances are there is no granite in sight, just an efficient apartment, often with great period detail. Since more and more people are moving to the area, and next door in Crown Heights, for similar apartments and prices, something must be right with the situation.