It's not news that Brooklyn's getting more and more expensive (see exhibits A, B and C), but a finding by TripleMint may be surprising: data released by the brokerage firm and digested by Politico New York says that trendy Brooklyn neighborhoods are outpacing their Manhattan counterparts in terms of rent growth. TripleMint compared stats in neighborhoods that renters may find themselves vying between in the two boroughs, like Dumbo and Tribeca, where TripleMint found that residential and commercial rents in Dumbo saw an 18 percent growth in 2014 compared to only 8 percent in Tribeca. Prices in Downtown Brooklyn rose 13 percent in that same time, which is three percent more than in the Financial District.
TripleMint also compared Fort Greene, where rents rose 22 percent, with the Upper West Side, whose growth was pretty negligible (This pairing's a little iffy, anyway). Politico NY notes that the stats don't mean that costs in the Brooklyn neighborhoods are exceeding those in Manhattan, just that the price increase was greater last year. TripleMint's CEO mostly attributed the growth to corporations like Kickstarter moving their headquarters into the borough.
· Brooklyn is king, when it comes to rent increases [Politico NY]
· Inside (and Atop) Kickstarter's Greenpoint Headquarters [Curbed]
· It's Time to Stop Thinking About Brooklyn & Queens As Cheap [Curbed]