04/10/15 12:02pm

MNS, the Brooklyn real estate firm published their March 2015 Brooklyn Rental Market Report today (along with their Manhattan Rental Market Report). Andrew Barrocas, CEO of MNS, notes that average rents throughout Brooklyn increased 0.38% this month, to $2,711.22 in March from $2700.99 in February.

Brooklyn rents remained stable this month and year-over-year increases were 2.87% from March 2014. Listing inventory grew only 0.57% in March—up to 2,984 from 2,967 units in February.

The largest increases in rent prices were seen in studio in Brooklyn Heights and two bedroom units in Boerum Hill and Cobble Hill. The biggest drops in rents occurred in studio units in Cobble Hill, Crown Height and Fort Greene, and two bedroom units in Fort Greene. It should also be noted that the current inventory of studio units in Boerum Hill, Cobble Hill, Crown Heights and Bushwick was less than 15 units at the time data was collected. Thus, these neighborhoods may demonstrate extreme price sensitivity compared to other Brooklyn neighborhoods.

The greatest year-over-year changes occurred in Boerum Hill and Greenpoint. Average prices in Boerum Hill increased by 21.3% since March 2014. Average prices in Greenpoint fell by 7.3%, to $2,655 in March 2015 from $2,864.41 in March 2014.

brooklyn_market_mar_15

brooklyn_market_mar_15a

Some other highlights of the report include the following:

  • Average rents in Brooklyn increased to $2,711.22 in March 2015. Monthly growth was 0.38% from February 2015
    • Year-over-year increases were 2.87% from March 2014
    • Listing inventory grew only 0.57% in March – up to 2,984 from 2,967 units in February
    • The current inventory of studio units in Boerum Hill, Cobble Hill, Crown Heights and Bushwick was less than 15 units at the time data was collected.
  • The largest monthly increase
    • Studios in Brooklyn Heights rose by 9.55%
    • Two bedroom units in Boerum Hill rose by 9.6%
    • Two bedroom units in Cobble Hill rose the most this month with an 11.91% increase
  • The largest monthly decrease
    • Studios in Cobble Hill decreased by 15.92%
    • Studios in Crown Heights decreased by 7.1%
    • Studios in Fort Greene decreased by 7.78%
    • Two Bedrooms in Fort Greene decreased by 8.13%
  • Neighborhood Trends
    • Dumbo: March’s most expensive rental properties are in Dumbo, with studios, one bedrooms and two bedrooms at prices up to $3,004, $3,979 and $5,451 respectively
    • Bay Ridge: March’s least expensive studios and one bedrooms are in Bay Ridge, at $1,291 and $1,606 respectively
  • Average studio pricing: $2,139, down from $2,166 in February 2015
  • Average one-bedroom pricing: $2,608, up from $2,570 in February 2015
  • Average two-bedroom pricing: $3,386, up from $3,367 in February 2015

In Dumbo for March 2015, studios were $3,004 (vs $3,035 in February 2015), one bedrooms $3,979 (vs $4,141 in February 2015), and two bedrooms $5,451 (vs $5,795 in February 2015). Here are the Dumbo price trends over 13 months for studios, one bedrooms, and two bedrooms:
dumbo_brooklyn_market_mar_15

For full report, go to www.mns.com/brooklyn_rental_market_report

Previously:
{January 2015 Brooklyn Rental Market Report}
{December 2014 Brooklyn Rental Market Report}
{October 2014 Brooklyn Rental Market Report}
{July 2014 Brooklyn Rental Market Report}
{May 2014 Brooklyn Rental Market Report}
{March 2014 Brooklyn Rental Market Report}
{January 2014 Brooklyn Rental Market Report}
{November 2013 Brooklyn Rental Market Report}
{October 2013 Brooklyn Rental Market Report}
{July 2013 Brooklyn Rental Market Report}
{May 2013 Brooklyn Rental Market Report}
{Brooklyn Rental Market Report (Year End 2012)}
{October 2012 Brooklyn Rental Market Report}
{September 2012 Brooklyn Rental Market Report}
{June 2012 Brooklyn Rental Market Report}
{May 2012 Brooklyn Rental Market Report}
{April 2012 Brooklyn Rental Market Report}

04/06/15 6:21pm
Archive photo of broken car window (2010)

Archive photo of broken car window (2010)

Once upon a time, when Dumbo was pre-gentrified, by parking your car overnight on remote streets, car break-ins and window smashing was in front of mind. That was before Squarehead was caught. It’s been a while since we received reports about broken car windows, but we’ve received three emails in the past week. Three emails does not define a trend, but worth noting here. One resident says:

I’m hoping you can post something about this and get community feedback. yesterday i noticed a Audi on Water st with a broken window. Today, this afternoon, out walking and saw a Volvo on Little St and 3 cars on Gold btw John and Plymouth with broken windows. Called 311…transferred me to 911, who said they can’t do anything, back to 311…who then said to call the precinct. I just called the 84th and the operator said there is nothing for them to do, unless i’m the car owner. Seems odd that they would not want to check out the cars and perhaps notify the owners, or do some drive bys to see if the perp is still active. Basically, they said there is nothing they can do…I can’t believe that since if I saw people breaking into someone’s house, you mean they wouldn’t do anything?

Hoping we don’t have this daily rash of broken windows again now that spring is here. Looks like the police don’t care.

We’re not going to need a NYPD Sky Watch, but anyone else notice car break-ins?

04/06/15 10:00am

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