Tale of the Tape: Brooklyn vs. Manhattan (Condos vs. Rentals)

JMFThe How: We compared the rental prices and sale prices in eight neighborhoods.

The Topline:  When it comes to Manhattan and Brooklyn rental prices, in the A-List neighborhood’s high-end buildings, there’s not a dramatic difference in price. However, when we look at condos in these same neighborhoods, in the same type of buildings, we see a big disproportion in price.  Analyzing my detailed research, we’re seeing buildings in Manhattan neighborhoods closing units at a price per square foot of $400-$500 more than their Brooklyn counterparts.

The Results:

The Conclusion:  Smart investors should consider purchasing in Brooklyn as we believe these numbers will tick further up as inventory increases and there are more comps to work with. We see room for further appreciation on the current inventory and don’t expect prices to come down in the future.