Brooklyn beats Manhattan in latest investment ranking

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

TRD 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
Rendering of the Tokyo Tokiwabashi project (Courtesy of Mitsubishi)

Mitsubishi unveils design for Japan’s tallest skyscraper

Mitsubishi unveils design for Japan’s tallest skyscraper
Charles Rettig, Commissioner of the IRS (Getty)

Opportunity Zone rule change seeks to entice foreign investors

Opportunity Zone rule change seeks to entice foreign investors
Larry Korman (Photo by Emily Assiran)

The self-lockdown lifestyle of AKA’s Larry Korman

The self-lockdown lifestyle of AKA’s Larry Korman
Renderings of the project and Gil Dezer (Getty; Renderings via  Zyscovich Architects)

Dezer’s 30-acre megaproject in North Miami Beach gets first approval

Dezer’s 30-acre megaproject in North Miami Beach gets first approval
The proposal to rezone Industry City in Brooklyn was unveiled five years ago, but collapsed under political pressure (Courtesy of Industry City)

Here’s how Industry City’s controversial rezoning unraveled

Here’s how Industry City’s controversial rezoning unraveled
731 Lexington Avenue and 410 East 61st Street (inset) with Vornado's Steve Roth (Googel Maps; VNO)

Home Depot eyes former Bed Bath & Beyond space on First Ave

Home Depot eyes former Bed Bath & Beyond space on First Ave
arrow_forward_ios

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

Loading...