The Real Deal New York

Brooklyn beats Manhattan in latest investment ranking

Dallas came in first in PwC and ULI survey of 2,400 real estate pros
October 11, 2018 09:00AM

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