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Rent Prices Continue To Drop In Williamsburg Ahead Of The L Train Shutdown

Caitlin Horsfield Caitlin Horsfield

Rent Prices Continue To Drop In Williamsburg Ahead Of The L Train Shutdown
If you’re looking to move into the ‘burg, now might be the right time.

With the L train shutdown less than a year away, rent prices in Brooklyn are beginning to take a hit. Renters, this could be to your advantage as prices have dropped to the market rate of 2015.

Not to mention that “inventory” is up with a 25% increase in available apartments. As more and more Brooklynites are leaving the neighborhood ahead of the 15 month shutdown, landlords are being forced to lower rent prices says a new report from StreetEasy.

About 27 percent of rentals in Williamsburg are now offering a discount on the monthly rent and around 18 percent are offering concessions for at least one month of free rent. This trend is expected to increase as we come closer to the shutdown.

Dashboard 1

Obviously, rent in Brooklyn is still far from cheap with the average price hovering in around $3,000 per month. But if you’re looking to make the move to Brooklyn, now might be the time.

Featured image: freewilliamsburg.com

Tags: brooklyn, nyc, rent