Quote Of The Day: ‘People Choose Brooklyn For Its Lifestyle’

By on March 11, 2012 10:03 am in DUMBO, Other Brooklyn, Real Estate

This may not come as a surprise to those who live in Brooklyn, but collegiate blog The Brooklyn Ink published a piece Friday March 9, asking “Is Brooklyn Still A Bargain?” looking at real estate trends in the borough’s trendiest neighborhoods versus Manhattan.

The overall conclusion: The notion that Brooklyn living is only for bargain hunters is gone. More people are choosing Brooklyn for its lifestyle than its rents. “You see people going there because they want to actually live there,” says Andrew Barrocas, CEO of real estate company MNS, “and they are willing to pay a premium in order to do it.”

The story compares DUMBO rental prices with Manhattan’s UES, as well as a glance at Brooklyn Heights, Williamsburg, Carroll Gardens, Fort Greene, Cobble Hill and Boerum Hill. Lots of stats, again with a focus on the rental market. See the full piece here.

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  • AEB

    Gosh! Brooklyn has a lifestyle? Coulda fooled me. But then again, aren’t there several?

    On the third hand, though, lifestyles are a function of having scratch, so that narrows the field….

  • resident

    Comparing DUMBO to the upper east side isn’t the best way to compare Brooklyn to Manhattan rents. DUMBO is easily the most expensive neighborhood in Brooklyn and the upper east side is probably the cheapest Manhattan neighborhood below 96th street. And, to be honest, unless you’re commuting to midtown-east, Dumbo and Brooklyn Heights are far more conveniently located.

    The article is right, rents have gone up significantly, but Brooklyn is still a relative bargain for “desirable” neighborhoods.

  • resident

    I guess I should clarify, the UES east of Third Avenue, as used in the comparison in the article, is maybe the cheapest neighborhood south of 96th Street. Rents between Lex. and the park greatly distort the overall figures in the cited reports.

  • Jorale-man

    I’d be curious to see the same sort of analysis but comparing sales. My guess is that more people are looking to Brooklyn when it comes time to buy a place. Brooklyn Heights has a greater sense of stability than a more transient area like Second Avenue on the UES. I wonder if that drives up sales prices even more.

  • BH’er

    and that colorful chart is showing…. avg studio/1br/2br rents?

  • PBL

    While I find myself in DUMBO quite often (particularly at Al Mar, La Bagel Delight and Superfine), I just don’t “get” its charm. It always feel so desolate, don’t really understand why people pine to live there. It’s not awful by any means, but if you are going to spend the money to live in a nice Brooklyn hood, I would prefer the Heights (where I live), Cobble Hill, etc.

  • Jorale-man

    @PBL interesting points. To me, the biggest drawback for much of DUMBO is the subway noise on the Manhattan Bridge. Even if you have sound-insulating windows, that constant rumbling must get to be old stuff. Also, it doesn’t really have a full-sized grocery store. Then again, with the expansion of the park there it’s probably becoming more desirable.

  • She’s Crafty

    DUMBO feels slightly Jack the Ripper to me which is intriguing but not where I’d want to live. Also the lack of a real supermarket or inexpensive drugstore would drive me crazy. Also, top $$ for someplace that’s a schlep to the train.