Rental Prices at Record Highs in Brownstone Brooklyn, Report Finds
PARK SLOPE — You practically have to be a king just to rent a studio in the Borough of Kings these days.
On average, tenants spent $2,799 per month to rent an apartment in Brownstone Brooklyn in the first quarter of 2014, with studios fetching $1,995, according to the Brownstone Brooklyn and Beyond Rental Market Report.
“Brownstone Brooklyn’s developers and landlords are scrambling to meet the growing demand for tenants looking for rentals in the area,” Aleksandra Scepanovic, Managing Director of Ideal Properties Group — which released the report — said in a statement.
“Traditional out-of-season reductions were notably absent in the first quarter of 2014, which may signal an even more heated rental season ahead.”
One-bedrooms rented for an average of $2,368 per month, up $242 from the same period last year, while two-bedrooms went for more than $3,000 per month, according to the report.
The average rental price of a three-bedroom apartment was a whopping $3,759 a month, the report found.