Brooklyn beats Manhattan in latest investment ranking

Dallas came in first in PwC and ULI survey of 2,400 real estate pros

New York /
Oct.October 11, 2018 09:00 AM

A wideshot of Dumbo Heights in Brooklyn (Credit: Dumbo Heights)

Dallas and Brooklyn finally have something in common. The markets secured the top two spots in PwC and Urban Land Institute’s annual ranking of the most desirable places to invest in real estate.

Brooklyn, which came in second, cracked the top 10 for the first time in 40 years, Bloomberg reported. The borough boasts low prices compared to Manhattan and is popular with yuppie types. Manhattan came in 32nd.

If Brooklyn’s prices are low, that may have something to do with the real estate market’s recent troubles. Apartment rents in pricier areas have plateaued, while a surge of new office construction has led to fears of a supply glut. [Bloomberg] — Konrad Putzier 


Related Articles

arrow_forward_ios
With a cooling trade war, stocks perform well, including real estate. (Credit: iStock)
Real estate stocks push up this week as U.S.-China trade tensions ease
Real estate stocks push up this week as U.S.-China trade tensions ease
416 West 25th Street and Maverick Real Estate Partners principal David Aviram (Credit: Google Maps and LinkedIn)
Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
Shoppers World CEO Sam Dushey with an aerial shot of Green Acres Mall (Shoppers World, Macerich)
Shoppers World to debut in Long Island at former Century 21 site
Shoppers World to debut in Long Island at former Century 21 site
Huge home headache hassles North Fork locals
Huge home headache hassles North Fork locals
Huge home headache hassles North Fork locals
Robert Roche, Ben Kohn and Adam Hochfelder (Getty, WikiMedia / Roche)
Entity linked to shuttered Playboy Club New York files for bankruptcy
Entity linked to shuttered Playboy Club New York files for bankruptcy
Vornado's Steve Roth and a rendering of 93-30 93rd Street (Getty, JLL)
Vornado looks to sell Rego Park development site for $85M
Vornado looks to sell Rego Park development site for $85M
1301 Metropolitan Avenue and 151 East 90th Street (Google Maps)
Industrial, multifamily, retail sales punctuated midsize deals last week
Industrial, multifamily, retail sales punctuated midsize deals last week
9 Prospect Park West and 2 Northside Piers in Williamsburg (Photos via Google Maps and 2 Northside Piers/Facebook)
A Park Slope co-op was one of the priciest deals inked last week
A Park Slope co-op was one of the priciest deals inked last week
arrow_forward_ios

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

Loading...