Is Brooklyn Real Estate Pricier Than Manhattan?

Want to live in New York City but can't afford Manhattan rents? Guess again! The Daily News is reporting that Brooklyn is now more expensive than Manhattan, and they have reports and data and stuff to back it up (via StreetEasy). Allegedly "the median rental prices in DUMBO, Park Slope and Fort Greene were higher than those in the East Village, Lower East Side, Upper East Side, Midtown East and Murray Hill." (Sales prices were also shown to be higher in certain Brooklyn neighborhoods.) One example: 2-bdrm Brooklyn Heights apartment renting for $4,400 and the same on the LES going for $2,887...but there's no mention of square footage. A quick look at Craigslist showed a 710-sq-ft, 1-bdrm in the Heights for $1900, and a 450-sq-ft, 1-bdrm on the LES for $1795.

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By Jen Carlson in News on November 26, 2008 11:16 AM

Comments [rss]

InsideRater

Well this article is really great!!! Base on our knowledge and expertise we at InsideRater.com thinks that in New York City market might goes down by 50% if the recession stays for a few more years. we already see a decline of 20% in residential and 33% in commercial real estate

InsideRater

Well this article is really great!!! Base on our knowledge and expertise we at http://www.InsideRater.com thinks that in New York City market might goes down by 50% if the recession stays for a few more years. we already see a decline of 20% in residential and 33% in commercial real estate.

babyhitler

too be honest it's all about hot chicks. Manhattan has more beautiful upscale women that look like escorts but Brooklyn has all the accessible hotties that look like they came from the west coast. If you take the downtown Q you will see what I mean.

seriouslynyc

Ok, did Jen Carlson not even read the article in the Daily News? The article mentions certain areas of Brooklyn being more expensive than nabes in Manhattan. Is it THAT surprising that Brooklyn Heights would be more expensive than Inwood or Washington Heights or Lower East Side? C'mon.

YELLOWFOOT

The apts in Brooklyn are prob renovated and the one on the LES is prob roach infested

QM

I love how they just ignore the majority of the borough. And to be fair, those neighborhoods are only popular among well off white people because of their proximity to Manhattan.

ericf

That LES 1 BDRM is more likely 350 SF. real estate people lie so much.

captainblackout

Ummm, Brooklyn as a whole or only fashionable neighborhoods?

Brooklyn Heights should be more expensive than the EV or LES, it's a nicer place to live.

I wonder how rents are doing in SoHo, Tribeca or the West Village?

Last time I checked Brooklyn was much more than just Park Slope, DUMBO, Brooklyn Heights and Fort Greene.

neckbeard

so people are willing to pay one-hundred dollars more a month for an apartment twice is big in a safer, quieter, nicer looking neighborhood in brooklyn than they would in manhattan? astounding.