Yep, housing in Brooklyn continues to change, and not for the better.
It looks like this gentrification bullsh*t has gone about far enough, and some prices are finally heading back towards reasonable. But barely.
Curbed dropped the deets about the trend that comes as a surprise to no one.
6,500 units, mostly rentals, that are recently completed or under construction, stretch along Flatbush Avenue between the Barclays Center and Myrtle Avenue.
The New York Times initially reported on the slowdown that is leading some developers to incentivize with discounts and amenities.
For example, 7 DeKalb Avenue, developed by City Point, will make the first two months of rent free on a 14-month lease and give tenants free use of the buildings amenities for a year.
And with the concessions, a one-bedroom apartment at 7 DeKalb can be all yours for $3,428. Per. Month.
The CEO of appraisal firm Miller Samuel, Jonathan Miller, believes the cause originates with the number of high-end units. He told the Times that means those asking for more than $3,500 a month.
We’re pretty much done with this. A quarter of the units -- that’s about 1,600 -- are labeled as “affordable,” but we’ve all seen what affordable in Brooklyn’s starting to look like.
Advocates are also a little worried that the infrastructure might not hold up under the weight of even more newcomers.
We believe in you, Brooklyn. Stay strong.
[via Curbed] [Feature Image Courtesy Instagram]