Monday, May 6, 2013

What The Hell Is Going On With North Brooklyn Real Estate?

Posted by on Mon, May 6, 2013 at 4:26 PM

Page 3 of 5


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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."

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Virginia K. Smith

Virginia K. Smith

Bio:
Virginia K. Smith is the Assistant Editor at The L Magazine and a Bushwick resident. Her profile picture was taken at Summerscreen, because she is a real team player.

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