Bringing Perspective to Brooklyn’s Rental Market

At MNS, we love to do deals that make news, like the $9.5M transaction last week for 310 North 7th Street in North Williamsburg (http://www.brownstoner.com/blog/2012/06/310-north-7th-street-sells-for-9-5-million/), but it’s also very flattering when our favorite media outlets like The Real Deal (http://therealdeal.com/blog/2012/05/01/with-new-division-mns-gets-into-investment-sales-game/) and the May 29th issue of The New York Times (http://www.nytimes.com/2012/05/30/realestate/commercial/a-rental-market-surge-in-brooklyn.html?_r=1) turned to yours truly for my thoughts on the real estate market.  In the Square Feet section penned by Times scribe Julia Satow, ‘A Rental Market Surge in Brooklyn’, I was able to contribute the following thought: “Just two years ago, buyers in Williamsburg faced trouble closing on their condominiums because banks saw the Brooklyn market as declining,” said David Behin, a partner and president of investment sales and capital advisory at the brokerage firm MNS. “There has since been a dramatic shift from stalled construction sites and concern that there was too much inventory, to significant demand from investors.” I’ve got a lot more to say on the subject, so if you’ve got questions or comments, email me here. (sdb@mns.com)