Real Deal excerpt -
Moving to Brooklyn is no longer the go-to cheaper housing option for
New Yorkers. According to a report from StreetEasy, the price gap
between the two boroughs is growing smaller, and some Brooklyn
neighborhoods are already topping Manhattan sales levels.
StreetEasy, looking at median sale and rent prices in all of
Brooklyn’s 49 neighborhoods to Manhattan’s median prices over the last
five years, found that 28 of the borough’s 49 neighborhoods outpaced
Manhattan’s five-year growth in sales price.
In Dumbo — one of the most expensive neighborhoods in the entire city
— prices increased 61 percent between 2010 and 2014. “Considerable”
price growth was also seen in outer sections of the borough, such as Old
Mill Basin and Bergen Beach.
Dumbo, Columbia Street Waterfront District, Manhattan Beach and
Carroll Gardens all topped Manhattan’s median sales price in 2014.
Rental prices also saw rapid growth over the last five years, StreetEasy
found, with 29 Brooklyn neighborhoods outpacing Manhattan’s five-year
rent growth rate. Gowanus, Bushwick, Red Hook and Bedford-Stuyvesant saw
the steepest increase in rent since 2010, according to the report.
http://therealdeal.com/blog/2014/09/12/price-gap-between-manhattan-and-brooklyn-is-shrinking/t increase in rent since 2010, according to the report.