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Studio Prices in Crown Heights Jumped 22 Percent Last Year

By Rachel Holliday Smith | February 5, 2015 7:37am | Updated on February 6, 2015 6:33pm
 Studio apartments in Crown Heights have risen more than 20 percent, a new real estate studio found.
Studio apartments in Crown Heights have risen more than 20 percent, a new real estate studio found.
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DNAinfo/Rachel Holliday Smith

CROWN HEIGHTS — Average rent for a studio apartment in Crown Heights went up more than 22 percent last year, the second highest jump in the borough, a new real estate survey found.

Studio apartments in Crown Heights cost $1,687 on average in 2014, up 22.8 percent from $1,374 in 2013, according to MNS Real Estate's year-end market report. Only Boerum Hill had a larger increase for studios in the year, at 23.4 percent.

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Price increases were not restricted to studios. Costs for one and two-bedrooms in Crown Heights each went up by more than 8 percent in 2014, from $1,801 in 2013 to $1,946 in 2014 for one-bedrooms and from $2,235 to $2,429 for two-bedrooms, the survey found.

In the nearby Prospect-Lefferts Gardens, prices rose in 2014, as well. Rent for a studio increased about 10 percent in the neighborhood, from $1,219 in 2013 to $1,344 this year. One-bedrooms and two-bedrooms each rose about 2 percent, from $1,593 in 2013 to $1,624 in 2014 for a one-bedroom and from $2,136 to $2,196 for a two-bedroom.

In Brooklyn overall, studios went for $2,127 on average this year, one-bedrooms cost $2,574 and two-bedrooms cost $3,327, the report found.

The survey from MNS compiles price data from proprietary and public rental listings, excluding properties priced higher than $10,000 a month, the company said.

The report includes most neighborhoods between Greenpoint and Park Slope, excluding nearly all neighborhoods south of Prospect Park, with the exception of Bay Ridge.