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If young couples are leaving BP, why are rents sky high?
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amother




OP
 

Post  Sat, Dec 07 2019, 8:02 pm
I just heard of:

Someone paying $2350 for a very small, not modernized 3 bedroom apartment on top of a store, utilities included, and

$2950 for a 3 bedroom, w. old kitchen and 2 baths, in a 23' house built in the 70s, but prime area. Tenant pays utilities.

Both landlords dont take Section 8.

These are examples of lowered rent in BP?

Is $2950 the going rate for a 3 bedroom apt, with an old kitchen and baths, but a very good area?
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amother




Yellow
 

Post  Sat, Dec 07 2019, 8:04 pm
Competition from non-Jewish singles with roommates, who are able to pay more in rent.
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amother




Seashell
 

Post  Sat, Dec 07 2019, 8:21 pm
Those actually are lowered rents! I live in a big building in prime area where couples are paying 1900 to 2100 for 1 bedroom apartments on 5th and 6th floors
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amother




Aquamarine
 

Post  Sat, Dec 07 2019, 8:21 pm
amother [ Yellow ] wrote:
Competition from non-Jewish singles with roommates, who are able to pay more in rent.


Huh? Are you even in BP? Sounds like you're talking about Williamsburg.
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groisamomma




 
 
 
 

Post  Sat, Dec 07 2019, 8:22 pm
amother [ Seashell ] wrote:
Those actually are lowered rents! I live in a big building in prime area where couples are paying 1900 to 2100 for 1 bedroom apartments on 599th and 699th floors


A building with 600 floors? Where is that?
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amother




OP
 

Post  Sat, Dec 07 2019, 8:24 pm
groisamomma wrote:
A building with 600 floors? Where is that?


Possibly the planet Mars.
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ra_mom




 
 
 
 

Post  Sat, Dec 07 2019, 8:24 pm
Population is growing. Even if many are moving, there are still many morr who are getting married and staying.
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whewpy




 
 
 
 

Post  Sat, Dec 07 2019, 8:26 pm
The people with decent 2 and 3 bedroom apts didn't move. Whats left are the small alts, which very often need lots of renovation...and yes, prices went down, but still much too high
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elisheva25




 
 
 
 

Post  Sat, Dec 07 2019, 9:47 pm
amother [ OP ] wrote:
Possibly the planet Mars.



Lol
She prob meant 5 th and 6th floor
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amother




Smokey
 

Post  Sat, Dec 07 2019, 9:53 pm
amother [ OP ] wrote:
I just heard of:

Someone paying $2350 for a very small, not modernized 3 bedroom apartment on top of a store, utilities included, and

$2950 for a 3 bedroom, w. old kitchen and 2 baths, in a 23' house built in the 70s, but prime area. Tenant pays utilities.

Both landlords dont take Section 8.

These are examples of lowered rent in BP?

Is $2950 the going rate for a 3 bedroom apt, with an old kitchen and baths, but a very good area?


Sounds cheap to me.
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amother




Dodgerblue
 

Post  Sat, Dec 07 2019, 9:54 pm
Outskirts of crown heights, one floor of a house, 2 small bedrooms and one bathroom is 2500 and that's a great price.
BP sounds more affordable lol
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amother




Cyan
 

Post  Sat, Dec 07 2019, 10:50 pm
The houses are also still super over priced to buy. There are some houses that are sitting around for a year already, unsold and the price remains the same. I am convinced it's the realtors who keep the prices high.
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walkingalong




 
 
 
 

Post  Sat, Dec 07 2019, 10:54 pm
amother [ Aquamarine ] wrote:
Huh? Are you even in BP? Sounds like you're talking about Williamsburg.


Since 2017 Sunset Park and Kensington near Ditmas Park are both very hot neighborhoods, so the edges of Boro Park with lower rent are getting some of these people too.
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bnm




 
 
 
 

Post  Sun, Dec 08 2019, 1:09 am
Not enough people left to drop prices drastically.
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amother




Lime
 

Post  Sun, Dec 08 2019, 6:50 am
Let's say an average BP family has 10 kids, of whom 7 leave for other cities. And the remaining 3 kids have 10 kids, of whom 7 leave for other cities.
The family that needed 1 house now needs 13 houses after 2 generations. That's even with most of the family leaving.
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DrMom




 
 
 
 

Post  Sun, Dec 08 2019, 7:35 am
bnm wrote:
Not enough people left to drop prices drastically.


This.

I don't live there, but I assume people are leaving because the demand for housing is much, much higher than the supply, so prices are increasing.

But a *lot* of people have to be willing to leave to drop the demand to such a degree that prices stabilize, let alone fall.
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amother




Slateblue
 

Post  Sun, Dec 08 2019, 8:13 am
walkingalong wrote:
Since 2017 Sunset Park and Kensington near Ditmas Park are both very hot neighborhoods, so the edges of Boro Park with lower rent are getting some of these people too.


That's true, I live in Sunset Park there are a lot of roommate situations or even just people who have been living here for years.
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bnm




 
 
 
 

Post  Sun, Dec 08 2019, 8:53 am
amother [ Slateblue ] wrote:
That's true, I live in Sunset Park there are a lot of roommate situations or even just people who have been living here for years.
are you my neighbor?

The houses that are being shared are subdivided to 5 legal apartments.

I lived on one block for 5 years and 5 different 2-3 family homes got turned into 5 family and numerous subdivisions.
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amother




Black
 

Post  Sun, Dec 08 2019, 9:24 am
I don’t understand why people are surprised that Brooklyn is expensive, it’s second only to Manhattan for expensive places to live in the country. Though those prices sound cheap to me, I was paying 3100 for a 1 bed in Manhattan 10 years ago.
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whewpy




 
 
 
 

Post  Sun, Dec 08 2019, 9:34 am
The price for a 3 bedroom in Boro park is not 2350. Its more like 3000 for tiny 3 bedroom...and bp did not get empty...sorry

Many people did move but many, many more stayed plus many young couples were added to the neighborhood. Prices dropped with a few hundred dollars, not more.

Where u see the major change is that newlyweds can now find one bedroom apts for approx 1900-2000, instead of living in basements.

Houses to buy are still through the roof. The decent ones, or the ones with potential get taken immediately. The not such good apts, can sit empty for a while, with the realtor/builders keeping the price up. Reason is because people in one and two bedroom alts with large families already moved away. People with large families crowded into decent 2 and 3 bedrooms are waiting it out....
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