As Rental Rates Rise, Brooklyn Heights Remains Among Top BK Destinations

While residential rental prices in Manhattan rose more than 10% over last year to a median of $3,195, Brooklyn also remains a prime destination. Overall prices in the borough slipped 2.1% from 2011, although 1 bedroom rental units jumped 10.5% to a median $2,100 a month, while 2 bedrooms rose 6.9% to $2,673 a month. The research was conducted by Miller Samuel, whose CEO Jonathan Miller tells NY1 that potential homebuyers are remaining in the rental market, “sometimes not by choice, and that’s tipping the market” upward.

Prudential Douglas Elliman Executive VP Michael Guerra says that the most in-demand neighborhoods in Brooklyn are Williamsburg, Brooklyn Heights and Park Slope. He notes, “Brooklyn is offering the same amenities Manhattan used to be known for. As Manhattan has become dominated by big businesses and larger kinds of stores or chains, Brooklyn is still a place with boutiques, something funky, something different, something unusual.”
(Photo: Chuck Taylor)

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  • Jorale-man

    I was walking down Broadway from 86th St. to 72nd St. yesterday and was amazed at how many of the storefronts up there are big banks, cellphone stores and drugstores. Even the old H&H Bagels space is in the process of becoming a Verizon store. I know we grumble sometimes about the influx of faceless chains on Montague St. but it’s nowhere near as prevalent here as it is on the Upper West or Upper East Sides.

  • Andrew Porter

    Much denser residential nabe up there, but when the JW properties here in BH are all sold off and filled with new families, maybe we can look forward to seeing the same number of crap retail stores here.

    But I sure hope not.