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]
rob….I said ONE BEDROOM, NOT STUDIOS.
“my monthly rent is about 0.24% of the purchase price.”
What is it multiplied by 12 and how many units are in the building????
I rented an apartment during the first quarter when the world was falling apart and got a fantastic deal. Much less than I would have been able to get it for now. Chew on this: my monthly rent is about 0.24% of the purchase price.
That said, going forward rents for like to like apartments will probably stay flat to slightly down depending on effect of all the new stock. There are plenty of options out there to not have to live in a shitbox.
Even at 15-17% unemployment, that means that roughly 80-85% of people ARE working.
That might boost the averages!!!!
quote:
11% unemployment rate in Brooklyn?
LOL from what i see, it appears the REAL unemployment number in the borough of brooklyn is closer to 75% unemployed. seriously
*rob*
quote:
PS: It takes me less than half the time to get from Bed Stuy to the Village than it took from Park Slope. There are some drawbacks to the neighborhood, but geographical location is not one of them.
LOL i never said Park Slope wasnt the boondocks either, did I? and ew, who goes to the village!
*rob*
Hmm, I wonder how the landlords will be able to ask for higher rents when people are still not working (11% unemployment rate in Brooklyn?) and income dropping by 3%?
Hopefully the new luxury high rises will bring in the jobs they said they would and all of us renters can go back to eating PB&J’s. I need to go on a diet anyways.
PS: It takes me less than half the time to get from Bed Stuy to the Village than it took from Park Slope. There are some drawbacks to the neighborhood, but geographical location is not one of them.
I now I need to get to work. I said “Good day, sir!”
now youre sounding like 11217. why would i have to visit a neighborhood to know stuff about it? grrr. okay im outta this thread, people get too miffy about their neighborhoods.
*rob*
Posted by: Butterfly at January 7, 2010 9:55 AM
and also, you dont NEED to physically go to any place anymore to experience now with the advent of googlemaps and street view and stuff.
*rob*
Posted by: Butterfly at January 7, 2010 9:55 AM
I REST MY CASE Q.E.D.