Apartment market in Brooklyn surges, new real estate report says
Greenpoint, Bed-Stuy, Downtown all see rapid recovery
The New York City real-estate rental market recovery is speeding up, especially in Brooklyn, according to StreetEasy’s July market report.
The quick rise in rents can be attributed in part to this summer’s massive spike in demand, the report says.
“New Yorkers who left town during the pandemic started returning, while those who stayed were upgrading, or moving again to avoid rent increases on their lease. And many people who had always wanted to live in New York City decided that, with prices unusually low this summer, it was finally the right time,” said StreetEasy, a well-known online real estate platform.