Williamsburg home prices have increased by 269% in the past decade

increaseUnsurprising news of the week: Williamsburg home prices have gone up a whole lot in the past ten years. As shown in the image above via PropertyShark, Williamsburg is up 269% from 2004-2014 and Greenpoint is up a meager 92%. From TheRealDeal:

Talk about gentrification. Home prices in some of the city’s neighborhoods have not just climbed over the last decade, they’ve blasted off, landed on Mars and found water.

Average prices for condos, co-ops, and single- and two-family homes in Williamsburg climbed from $275 to $1,015 per square foot between 2004 and 2014, which, after adjusting for inflation, amounts to a positively-shocking 269 percent increase

Williamsburg and Greenpointers cashing in on Airbnb to the tune $39 million


The Airbnb controversy continues, but one thing is indisputable. Airbnb hosts in Greenpoint and Williamsburg are cashing in.

During the Review Period, most revenue from private Brooklyn short-term rentals came from Community Districts along the Northern Brooklyn waterfront and in the neighborhoods often collectively called “Brownstone Brooklyn.” As depicted in Figure 12 below, the Williamsburg/Greenpoint Community District had for the largest concentration of private short-term rentals in Brooklyn, generating $39 million for hosts—40 percent of the boroughwide total and nearly 10 percent of the citywide total. Like the Lower East side, the Williamsburg/Greenpoint Community District was one of the most rapidly gentrifying neighborhoods in New York City, as reflected in the disparity between the rents paid by old and new renters in 2012. 14 Other popular community districts included Downtown Brooklyn/Fort Greene ($14.7 million revenue), Prospect Heights/Bedford Stuyvesant ($14.4 million revenue), and Park Slope ($8.67 million revenue).

No one is sure how this is going to all pan out — the Attorney General has made Airbnb his pet project — but for the time being it’s a hot market for hosts in North Brooklyn.

The worst rooms in NYC


Would you pay $1,200 for the room pictured above? Tumblr The Worst Room posts some of the saddest NYC living situations available for rent. Unsurprisingly plenty of Williamsburg rooms are featured. Have you lived in any of these? Check it out here.

Williamsburg couple builds home out of shipping containers

Picture via Google Street View

David Boyle and Michelle Bertomen bought their Keap street lot in 2008 and decided to improvise when finding the cost of building a brick home would cost upwards of $500,000. From DNAinfo:

“We were just sitting around one night, bottle of wine, just feeling like we couldn’t do it,” said Boyle, a 55-year-old contractor whose wife is an architect. “And then just, ‘How about shipping containers?’ came up. So Michelle just sat down and did the calculations, in the terms of the size, fire ratings, how you can stack them up… And she said it would work.”
The couple, who have been together for about 20 years, bought six shipping containers at $1,500 a piece and began work on what they believe is the first private residence in the city made out of shipping containers.

They ended up turning the place into a nice little 3-story apartment with a roof view. I’ve had some ideas I thought were pretty good after a bottle of wine, but these two really took it to the next level (3 levels). I’d like to imagine they were watching Season 2 of The Wire when they came up with the idea. Read more and see pictures of the inside at DNAinfo


Watch the trailer for a documentary about the gentrification of Williamsburg

Su Freidrich’s documentary about the gentrification of Williamsburg is called Gut Renovation starts playing at Film Forum on Wednesday, March 6. The film originally screened at Brooklyn Film Festival last year. From [Read more…]