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Fort Greene 2BR Rentals Pricier Than Williamsburg and Park Slope: Report

By Janet Upadhye | March 17, 2015 1:57pm | Updated on March 17, 2015 7:07pm
 The average cost of a two-bedroom in Fort Greene went from $3,678 in January to $4,163 in February, realtors said.
The average cost of a two-bedroom in Fort Greene went from $3,678 in January to $4,163 in February, realtors said.
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DNAinfo/Janet Upadhye

FORT GREENE — Move over Williamsburg.

The average rent for a two-bedroom in Fort Greene went from $3,678 in January to $4,163 in February — a more than 13 percent increase and the largest upward shift in the borough, according to a report released by MNS Realty.

The rents now eclipse even tony Park Slope and Williamsburg which boasted monthly averages of $3,451 and $4,091 respectively.

MNS CEO Andrew Barrocas attributes the rise in Fort Greene two-bedroom rents to the neighborhood becoming more attractive to families.

"Fort Greene continues to emerge and become more family-oriented and that is good for two-bedrooms," he said. "Fort Greene has always been a coveted neighborhood but it now has more amenities, including better schools, for families."

Fort Greene now has the fourth most expensive monthly rental costs for two-bedrooms in Brooklyn. DUMBO continued to have the highest rents at $5,795 a month followed by Downtown Brooklyn with $4,396 and Brooklyn Heights at $4,254 a month, the report said.

In February 2014, Fort Greene two-bedroom apartments averaged at $3,702, 11 percent lower than this year.

The neighborhood's rents dipped a bit by the end of 2014 when they averaged at $3,602, $300 cheaper than Williamsburg's two-bedrooms which were going for $3,922.

Fort Greene's 13 percent rent rise at the beginning of 2015 dramatically outpaced other neighborhoods in the borough like Clinton Hill, which only rose by 5.7 percent, and Bay Ridge's 3.8 percent.

The rise in Fort Greene rents has some Brooklyn residents scratching their heads.

"I live in a neighborhood that has been known for its exorbitant rents for many years," said eight-year Park Slope resident Stacy Skolsky, 35.

"The fact that it is now more affordable to live in Park Slope than to live in Fort Greene continues to surprise me."