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Can you still afford to live in "North" Williamsburg—above Grand and west of the BQE—without some crazy, grandfathered-in rent control setup? Well, congratulations richie rich, you're among a shrinking elite, and should come to DUMBO and buy me an overpriced lunch or something.
According to realtors, this area is now considered "prime Williamsburg," with average rents at a staggering $3,499. The factors driving this are pretty straightforward—proximity to the L, proximity to endless bars and restaurants, etc. If for some reason you can afford to invest in property here, now's probably the time to do it.