Average one-bedroom: $3,000/month
Downtown Brooklyn often gets forgotten in the hype surrounding nearby neighborhoods like Brooklyn Heights, DUMBO, and Fort Greene. But the area is flush with new development and luxury buildings. While it doesn’t have the same charms of its neighbors, it’s only a matter of time before the cocktail bars and distressed mirrors make their debut.
“Downtown Brooklyn looks like an old commercial neighborhood that is in decline but might make a comeback. It has a lingering decay that gives it a patina that makes it more like a fringe neighborhood,” says Chris Rounick, licensed real estate agent with Compass. “It sits in the bull's-eye center of hot neighborhoods but often gets passed over because it’s such a commercial area. But it’s booming with development and is a great value proposition because developers are competing with each other to push this inventory of rentals.”
“The people who want to keep a luxe lifestyle with elevator buildings will probably go to Downtown Brooklyn because there is so much housing stock coming up, especially at 300 Ashland, which is the best, and well thought-out new buildings going up,” says Kevin Kemble, a real estate agent with Citi Habitats.
Who should live here: People who appreciate an investment. The neighborhood is packed with luxury rental buildings with all the amenities. It doesn’t have the nightlife of Williamsburg (yet), but it’s close enough to plenty of neighborhoods that do. And with just about every single subway line nearby, it’s an ideal neighborhood for commuters into Manhattan. It also is near the Atlantic terminal for the LIRR, so those who need their summer Hamptons fix won’t have to fret about being farther from Penn Station.