Friday, January 20, 2012

With Manhattan running out of buildable space, developers turn to Brooklyn

Residential developers increasingly turn to Brooklyn, but face different renters

January 18, 2012 10:30AM
From left: renderings of Three Northside Piers, 388 Bridge Street and 88 Willoughby Street
As space for residential development dwindles in Manhattan, developers are turning to Brooklyn, the Wall Street Journal reported, but they must be careful if they want to appeal to the different sensibilities of Brooklyn renters.
Citing a report by Nancy Packes, a consultant to some of the city’s largest developers, the Journal said 14,000 new residential units are being planned for Brooklyn in the coming years, compared to just 5,000 in Manhattan. Read full story here:

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