No, you are not being punked. For once, instead of a report the dizzying horrible, ever-escalating rent prices in our borough, we have good news for your wallet. Thanks to a flood of new units on the market, rents in Greenpoint dropped nearly nine percent this year. We’ll wait while you pick your jaw back up the floor. Honestly, compose yourself.
This extremely welcome news is courtesy a report by MNS real estate, which noted that the rent price fell in the last year more than in any other neighborhood. Of course, that doesn’t mean that rent is cheap. No. But a Studio that, in 2014, would run you $2,580, dropped to $2,202. Your average one-bedroom went from $2,938 a month to $2,499. That’s while rent prices in the rest of the borough went up three percent.
Don’t expect this rent thaw to last long, though. Summer months are when people move, and those apartments will be snapped right up, you better believe. But if you’re in the market for a new place, maybe look to North Brooklyn.