Economic Downturn Doesn’t Bother Bococa Rents

By , 6 January, 2011, 2 Comments

image via Brownstoner

If you thought that whole recession thing was going to help you find a cheaper rental in Bococa, you were sadly mistaken. According to Crain’s New York Business, rents have gone up in 10 brownstone Brooklyn hoods–with Brooklyn Heights and Cobble Hill leading the pack.

The 10 neighborhoods, which are collectively known as brownstone Brooklyn and include Clinton Hill and Park Slope, recorded a $36 average increase in monthly rent last year, according to Ideal Properties Group, a brokerage firm specializing in Brooklyn. The uptick took place across all apartment sizes and types. The neighborhoods of Brooklyn Heights, Cobble Hill and Carroll Gardens saw the biggest increases. In Brooklyn Heights, rents went up an average of $143 a month; in Cobble Hill, they rose $96 and in Carroll Gardens, they increased by $63. Gowanus was the only Brooklyn brownstone neighborhood to record a decline, dropping an average of $22 a month from 2009 levels.

Gotta love Gowanus taking one for the team. Of course, with the sheer volume of real estate agencies up and down Court St., Montague St. and even Columbia St., is it really any wonder? The article also mentions Brownstone Brooklyn apartments renting out more quickly. “…one-bedrooms and studios in Cobble Hill, Carroll Gardens and Park Slope flew off the shelf within two to eight days of being listed. Rents for apartments in these areas ranged from $1,556 to $2,008 a month in 2010.” Hey, when you’re hot, you’re hot.

  
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