The rent is going up.
Brooklyn is certainly no stranger to increasing rent hikes. While Tribeca remains the priciest neighborhood (eyeroll), more and more BK nabes are climbing higher on the list recently posted by PropertyShark.
In fact, Greenpoint made a dramatic jump. The neighborhood rose from #41 to #14, with a 37% increase in prices. Whoa. Adding to that tidbit, there were “99 residential deals closed in Greenpoint year-over-year, with a median of $1.22 million.”
While that jump may be steep, there are other nabes with heftier price tags. DUMBO scored the fifth spot with a median home sale of $1.8 million. That’s not small change.
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Living in Greenpoint, I have to say, this is not spectacular news. What is the incentive to live in GP and pay such high housing costs? Mass transit is terrible. The BQE cuts through like an absolute eyesore. The waterfront is not very nice. It’s a charming village for sure. With a great deal of history and cultural diversity. But that’s what we can say for any NYC neighborhood so that can’t justify the pricing. Rankings like this are meaningless and we need to stop wishing our neighborhood will show up in the top tier. What are we getting for our money?