Thanks to rezoning in recent years, Downtown Brooklyn is seeing a surge in new condominiums and apartments as developers flock to get their piece of the Brooklyn real estate pie.
While the market saturation is good for tenants lowering rents and market rates, it is bad for real estate developers and investors. This video from The Real Deal explains more.
Developers are loving Brooklyn right now – maybe a little too much.An approaching flood of rentals is creating concern that the market is becoming oversaturated. Too many units could depress prices, cutting profits for some of the borough’s biggest developers. Watch the video above for the full story and to see a list of 10 major rental projects that will hit the area over the next two years.
via The Real Deal