What The Hell Is Going On With North Brooklyn Real Estate?
South Williamsburg
Just moving south of the Williamsburg bridge slashes average rents significantly, down to an average of $2,900 west of the BQE, and $1,900 to the east. In spite of a development spurt that includes a forthcoming luxury hotel, the neighborhood still has one of the highest concentrations of poverty in the city. “In a lot of ways it’s a composite of different sub-neighborhoods,” City Council Member Stephen Levin explained to DNAinfo. “I’m not surprised to see those discrepancies because there are hotter areas than others. But the high-end prices are being driven by gentrification that’s clearly in overdrive.”