Get ready for more of this, and more rent increases.
Sick of all the good news in your life? Well great, you’ve found the right story to bring you down. After a year of fretting about rent increases from Bed-Stuy to Bay Ridge, you might be wondering if the insane real estate fever gripping Brooklyn might break and go down soon. NOPE! A report from MNS Realty looking at the year in Brooklyn real estate in 2014 not only went over how much rent up around the borough, but predicted rents are only going to go up more in 2015. Well, there’s always 2016 (haha, no there isn’t). (more…)
Up-and-coming and never looking back. via Flickr user mercurialn
It was just a couple weeks ago that the Bensonhurst Bean was talking about how neighborhoods in Southwest Brooklyn were cursed with the “up-and-coming” label. Turns out they were on the right track, because the MNS Rent Report that looked at October rent prices found that with a 9.3% increase in average rent from October 2013 to October 2014, Bay Ridge had the highest overall rent jump in Brooklyn. (more…)
Brooklyn 2013, home of the marginally less rich than Brooklyn 2012. via Flickr user Dougtone
Brooklyn! Ancient Canarsee for “Land of One Thousand Expensive Apartments.” Please don’t look that up. Anyway, Brooklyn rent was high last year, but did you know it wasn’t as high as it was in 2012? According to a report by MNS Real Estate, that’s the case, with average rents across the borough falling a whole 1.12% from $2,617 in 2012 to $2,587 in 2013. Let’s all have a party. (more…)