The Real Deal New York

Brooklyn rents, not snow, fall this winter

February 23, 2012 08:30AM
By Zachary Kussin

(source: MNS)

Compared to the average residential rent increases MNS saw in its recent annual report, the brokerage’s new January data show a slight decrease in Brooklyn rents month-over-month, while year-over-year numbers were more positive.

Between December and January, Brooklyn rents dropped an average of $10 per month, according to the January Brooklyn rental market report released today.

“The only reason you’re not seeing an increase [month-over-month] is because of seasonality,” said MNS CEO Andrew Barrocas. “[January is] a slower month, and typically leases roll over into busier times.”

But, Brooklyn rents increased year-over-year last month across all apartment sizes.

There was a 1 percent increase in studio rents year-over-year ($1,698 from $1,681), an 8.1 percent increase for one-bedrooms ($2,300 from $2,128) and an 11.7 percent climb for two-bedrooms ($2,975 from $2,663).

Such rent increases were to be expected, Barrocas said, because of the increasing number of waterfront promenade extensions from Brooklyn Heights to Greenpoint and new retail spaces borough-wide

 

  • LarryThe AptLender

    There were also a tremendous amount of buildings in Bushwick, Bed-Stuy, Clinton Hill and other neighborhoods that were renovated and re-tenanted with much higher paying occupants.

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