Skyrocketing rents, cramped apartments and a cut-throat rental market. Conditions that originally forced New Yorkers out of Manhattan are now sending them back, a report claims.
A real-estate expert said Williamsburg and DUMBO homes have become so hot that people are being priced out — and Manhattan has become a cheaper alternative.
A report by the brokerage firm MNS Real Estate said more affordable Manhattan neighborhoods including the Financial District, the Upper East Side east of Third Avenue, and Harlem have all become tempting alternatives to the hip parts of Brooklyn.
“You’re seeing some people go back to Manhattan,” said Andrew Barrocas, MNS’ CEO.
“It’s not a big trend, but you’re seeing it happen.”