Crown Heights Leads Brooklyn in Rent Increases
A new study examining the average rent for a Brooklyn apartment revealed that Crown Heights continues to outpace the rest of the borough in rising rents.
From the Gothamist:
The study, released by the MNS Real real estate group, focuses on average monthly rental costs between June 2013 and June 2014. During that time, Crown Heights studio prices have increased by nearly 37 percent, followed by one-bedrooms which are up by nearly 20 percent, and two bedrooms, up by nearly 14 percent.
“Several new development, converted, and renovated buildings listed a large number of units this past month including 764 Saint John’s Place, 341 Eastern Parkway, and 836 Bergen Street,” the study said. “It is well known that Brooklyn is rapidly gentrifying and Crown Heights is currently at the forefront of that movement.”
Of course, Brooklyn rental prices are on the rise as a whole. The MNS study revealed that average rents rose 6.8% from this time last year, up from $2,566 to $2,741.
“This continued rising trend in these two neighborhoods can be attributed to new development buildings and conversion buildings entering the market,” the study said. “New building developers are turning their focus away from the saturated markets close to Williamsburg and Downtown Brooklyn in favor of neighborhoods further into the heart of Brooklyn.”
ben levi
we are causing it maharsayich umachrivayich mimach yatzaiu if the anash owners wouldn’t rent or build houses for the yupis the prices would be lower. the yongerlight cannot afford living here. it got out of hand. if the rebbe would be here this would not happen. we have to try to change this that the neighborhood should be affordable like the rebbe wanted. also to make it more for a chassidishe place and not vicversa
a gezunten zumer
Great grandparents
Our grand daughter is paying very high rent to a frum landlord for a slum
Not a yuppy just a rip off!
craziness
in today’s world the way it works is.
do whats best for yourself and your family.
when I was struggling there was no one out there who cared.
what type of community do you think we live in??
you people are in dream land. every fight for survival. give it up.
BH god has helped me very well and I give charity where ever I can.
but in my business (RE) I will charge whet ever I can get from who ever is willing to pay.
I will take care of my family what ever it takes.
I dont need to support the whole community.
I can get 1500 for a 1 bedroom if you cant pay dont rent it.
but ill get it.its business.
I dont need to lower the rent so young people can live here.
there is nothing here for them if they cant afford it let them move somewhere else.
there are many places in the world.
if they stay they have bigger chances to ending up like half the other popers here.
Crown Heights Landlord
I am charging my tenants from over 10 years ago the same rents they paid 10 years ago, and they were cheap rents then too.
HAROLD C.
THE LAW OF SUPPLY AND DEMAND DETERMINES RENTAL VALUE. WHEN YOU HAVE A SEGMENT OF THE POPULATION FEELING THAT IT IS A NECESSITY TO LIVE LIKE SARDINES ON TOP OF EACH OTHER IT CREATES A BUMP IN THE NORMAL PROCESS AND THEY WILL BE REQUIRED TO PAY A HIGHER PRICE TO LIVE WITHIN THE COMMUNITY. THE ALTERNITIVE IS TO MOVE TO A PLACE THAT IS MORE AFFORDABLE. PUT THE SAVED FUNDS INTO YOUR CHILDRENS EDUCATION.