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ARE APARTMENT RENTERS FLEEING WILLIAMSBURG FOR DEALS IN THE EAST VILLAGE?

by Christopher Robbins, Gothamist
Date Publish: Thursday August 2, 2012

...............But as Sang Nguyen, an agent at Caliber Associates points out, "Numbers are numbers. At $2,700, the average studio in Williamsburg is more expensive than all of the Neighborhoods in Manhattan, including Tribeca at $2,500." Nguyen adds, "I know colleagues who have clients who are leaving Williamsburg for Manhattan—maybe not the East Village but definitely the Upper East Side or the Financial District."

The UES is mentioned in Metro's piece as a neighborhood to snag a deal, and Nguyen agrees. "It's the cheapest for your money, it's more neighborhood-oriented—people don't want to come home to a commercial area like Midtown East. One of my clients moved there from the UWS and she saved $2,400 a year moving two miles." But she's more bullish on the Financial District. "Nowhere else in Manhattan can you get no-fee, one-month-free apartments in new high rises. To me, that's the best deal."

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Buying, Renting or Selling New York City Real Estate?

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