BOERUM HILL — The new year brought steeper rents for residential units in Boerum Hill, a new real estate report showed.
Average rents for one- and two-bedroom apartments increased by almost 6 percent each — the greatest change in the borough from December 2015 through January 2016, according to a report from MNS.
Average rents for one-bedrooms jumped 5.9 percent, from $2,663 to $2,820, the report said. Similarly, rents for two-bedrooms increased 5.79 percent, from $3,558 to $3,764 over the same time period.
Studio rental prices went up by 1.39 percent, from an average rent of $2,368 to $2,401.
The report noted that the increases were likely the result of a 20 percent drop in inventory levels and high-priced listings from new rental buildings at 267 Pacific St. and 316 Bergen St.
Average rents in Brooklyn dropped by 0.2 percent from December to January, from $2,711.87 to $2,717.39, the report said.
Meanwhile, average retail rents on Smith Street, Boerum Hill's main commercial corridor, were found to be $121 per square foot, according to the Real Estate Board of New York.
The same report found that nearby Court Street in Cobble Hill had an average asking retail rent of $162 per square foot, one of the priciest in the borough.
