Via Brownstoner, this new report from MNS real estate comes with a lot of expected news—average rents in Bushwick jumped from $,1853 to $2,005 in the past year, and prices in neighborhoods like Greenpoint, Bed-Stuy, and Crown Heights continue to soar—but also at least one surprise. Namely, that Brooklyn rents got a bit lower in December, going from an average of $2,617 the previous month to $2,587, a change of 1.12%.
Probably not a harbinger of earth-shattering changes, given that real estate demand and prices tend to drop a bit this time of year. Having just moved over the holidays, I now have an intimate understanding of why no one wants to do this, ever! But anyway, always interesting to see a slight break in the never-ending drumbeat of news about Brooklyn’s astronomical rents.
It’s not that much of a break though: sales of commercial properties increased by 31 percent last year, the most high-profile and expensive of which was the $240 million Jehovah’s Witness-owned Watchtower building in DUMBO.
Follow Virginia K. Smith on Twitter @vksmith.