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Brooklyn is Now One of America’s Most Expensive Neighborhoods

Steven Vornea Williamsburg Brooklyn

Brooklyn's retail rents are among America's priciest, beating out some of Chicago and Miami's costliest neighborhoods. CPEX Real Estate have released a new report ranking the most expensive retail corridors in the US and Williamsburg is taking center stage. As the neighborhood’s demographic shifts from Hipster to Magpies (mature adults go partying in style) we have seen an increase in condominium construction and as a result, rents and when the rents go up, retailers follow in pursuit.

This article in Crainsnewyork.com by Senior Reporter Joe Anuta gives us the full report as well as an overview of how Brooklyn compares with other retail corridors, taking out 3 of the 10 top locations for price per square footage.

 

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