Fort Greene studio rentals hit nearly $2,500

Low inventory, new luxury development push nabe rents sky-high

TRD New York /
Feb.February 18, 2014 05:30 PM

Studios are hot in Fort Greene, with average prices jumping more than 5 percent in the last month to $2,450, according to new figures from brokerage MNS Realty.

The report attributes the recent price hike to a combination of lack of inventory in the neighborhood and a flurry of luxury developments cropping up on the border of Downtown Brooklyn. 

The sticker price for a one or two-bedroom in the nabe is also creeping up, increasing 2.1 and 1.8 percent from last month, respectively. Rental prices are also heating up in Cobble Hill, Crown Heights and Downtown Brooklyn, according to DNAinfo.

In the next few years, thousands of rental units are slated to hit the Brooklyn market, including 861 apartments at 88 Willoughby Street that AvalonBay Communities is constructing, and 720 apartments at 333 Schermerhorn Street that developer Douglas Steiner is putting up, both of which are Downtown. [DNAinfo]  — Angela Hunt


Related Articles

arrow_forward_ios
MeetElise CEO Minna Song (Linkedin)

MeetElise, an AI-powered leasing startup, raises $6.75M

MeetElise, an AI-powered leasing startup, raises $6.75M
Clockwise from top left: 180 Ashland Place. 180 East 125th Street, 35 Commercial Street and 2440 Fulton Street (Credit: Google Maps)

The top 10 biggest real estate projects coming to NYC

The top 10 biggest real estate projects coming to NYC
199 St. John’s Place and 188 Adelphi Street in Brooklyn (Credit: Google Maps and Knight Frank)

Five Brooklyn luxury homes sold in height of pandemic

Five Brooklyn luxury homes sold in height of pandemic
155 Noble Street and 372 Clermont Avenue in Brooklyn (Credit: Google Maps)

Greenpoint condo was Brooklyn’s priciest contract last week

Greenpoint condo was Brooklyn’s priciest contract last week
85 Adams Street (Credit: Google Maps, iStock)

Dumbo condo was Brooklyn’s priciest contract last week

Dumbo condo was Brooklyn’s priciest contract last week
362 Clermont Avenue and 541 1st Street in Brooklyn (Credit: Google Maps)

Fort Greene townhouse was Brooklyn’s priciest contract last week

Fort Greene townhouse was Brooklyn’s priciest contract last week
Brooklyn Hospital Center at 121 DeKalb Avenue in Brooklyn (Credit: Google Maps)

Brooklyn Hospital Center plans land sale amid redevelopment

Brooklyn Hospital Center plans land sale amid redevelopment
AvalonBay breaks ground on $77M Harrison complex, journalist Scott Pelley to sell Darien home and more Westchester & Fairfield real estate news

AvalonBay breaks ground on $77M Harrison complex, journalist Scott Pelley to sell Darien home and more Westchester & Fairfield real estate news

AvalonBay breaks ground on $77M Harrison complex, journalist Scott Pelley to sell Darien home and more Westchester & Fairfield real estate news
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...