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Brooklyn Rental Market Report Year End 2012 mns.com Brooklyn Rental Market Report YEAR END 2012 TABLE OF CONTENTS 03 Introduction 04 Notable Trends 05 Mean Brooklyn Rental Prices 07 Neighborhood Price Trends 07 Bay Ridge 07 Bedford-Stuyvesant 07 Boerum Hill 07 Brooklyn Heights 08 Bushwick 08 Clinton Hill 08 Cobble Hill 08 Crown Heights 09 Dumbo 09 Fort Greene 09 Greenpoint 09 Park Slope 10 Prospect-Lefferts Gardens 10 Williamsburg 11 Overall Average Price Trend 12 The Report Explained page 2 Chelsea 212.721.2500 Gramercy Park 212.475.9000 Williamsburg 718.222.1545 189 8th Avenue, New York, NY 10011 115 East 23rd Street, New York, NY 10010 165 Bedford Avenue, Brooklyn, NY 11211 mns.com Brooklyn Rental Market Report YEAR END 2012 INTRODUCTION MNS is proud to present our second annual Year End Report for Brooklyn, the summation of a year’s worth of data collected from our monthly Brooklyn Rental Market Reports. We hope you find these pages useful in determining the rental trends of Brooklyn’s major neighborhoods, as well as the overall climate of the Brooklyn rental market during the course of 2012. What a year it has been for the Brooklyn real estate market. Neighborhoods such as Williamsburg and DUMBO surpassed Manhattan rents forcing renters to move out of Brooklyn and into the city. The opening of the Barclays Center and the Atlantic Yards development have definitely assisted in bringing Brooklyn rents to all time highs. Yearly average rents were $1,812 for studios, $2,400 for one-bedrooms, and $3,065 for two-bedrooms. Average increase from 2011 was 8.6%. Inventory dropped in the fourth quarter of 2012, most notably was the lack of inventory for studio apartments. Studios were very tough to come by in certain neighborhoods such as Bay Ridge, Cobble Hill, Bushwick, and Prospect-Lefferts Gardens. Out of the fourteen neighborhoods MNS currently tracks in Brooklyn, studios prices rose 7.0% from 2011, and 11.4% from 2010. The month with the highest average for studios was December, average price was $1,976. As rents rose again over the course of this past year, we are looking forward to a vibrant year in 2013. More inventory will be coming to market throughout Brooklyn as developers are looking to bring the same luxury apartments and amenities over the bridge and into Brooklyn. MNS is currently tracking over 1,200 units coming to market in 2013 in Downtown Brooklyn. With new developments coming to Downtown Brooklyn, this area should continue to see growth in both the residential and retail sector. This past year saw some amazing changes in Brooklyn from the opening of the Barcalys Center to new residential developments springing up all throughout the city. Brooklyn is definitely on the map, and 2012 proved this point as noted above with the 8.6% increase in rents. Some areas such as Fort Freene and Greenpoint are becoming more popular as renters are finding these areas more economical to live in. From a year ago, rents in Fort Greene and Greenpoint both rose an average of 22%. These neighborhoods are just an example of what we are seeing in Brooklyn as other areas also displayed high yearly average increases. As we begin 2013, MNS will continue to track the trends in Brooklyn. This is a very exciting time for this city, and we are anticipating another great year. page 3 Chelsea 212.721.2500 Gramercy Park 212.475.9000 Williamsburg 718.222.1545 189 8th Avenue, New York, NY 10011 115 East 23rd Street, New York, NY 10010 165 Bedford Avenue, Brooklyn, NY 11211 mns.com Brooklyn Rental Market Report YEAR END 2012 NOTABLE TRENDS On the Up and Up This year, the rents were up 8.6% which is up 2% from the average growth rate from 2011 to 2010. From 2010, rents are up an average of 16%. Breaking the numbers down from 2011, studios are up 7% from $1,693 to $1,812, one-bedrooms are up 8.5% from $2,211 to $2,400, and two-bedrooms are up 10.3% from $2,778 to $3,065. Average price for a two bedroom broke the $3,000 threshold this year. From 2010, one-bedroom units had the highest increase at 18.9%, up $382. Two Bedroom Unit Pricing Once again two bedrooms posed the largest increase on a yearly basis. This is exactly what we saw in Manhattan as two bedrooms had the highest increase as well, up 9.6%. On a percentage basis, Brooklyn had a slightly larger increase for two-bedrooms, a .7% difference. On an annual dollar basis, Manhattan two-bedrooms rose by $378, this was $91 higher than the Brooklyn two bedroom increase. The top three areas with the highest two bedroom rents are as follows: Dumbo: $4,985, Brooklyn Heights: $4,715, and Williamsburg: $4,002. Inventory Assessment MNS is tracking more than 1,500 units coming to market in 2013. Most of the inventory will be in Downtown Brooklyn and Williamsburg. The inventory pipeline is expected to continue to rise as we see more development and growth in Brooklyn. Year-Over-Year Changes Brooklyn Rents: 2011 vs. 2012 Type 2011 2012 Change Studios $1,693 $1,812 7.0% One-Bedrooms $2,211 $2,400 8.5% Two-Bedrooms $2,778 $3,065 10.3% Brooklyn Average Price Changes of 2012* Studio One-Bedroom Two-Bedroom 10.42% 11.67% 5.85% *Average price changes were obtained by calculating the percentage of change between the average asking rents at the start of 2012 (January) and at the end of 2012 (December) page 4 Chelsea 212.721.2500 Gramercy Park 212.475.9000 Williamsburg 718.222.1545 189 8th Avenue, New York, NY 10011 115 East 23rd Street, New York, NY 10010 165 Bedford Avenue, Brooklyn, NY 11211 mns.com Brooklyn Rental Market Report YEAR END 2012 MEAN BROOKLYN RENTAL PRICES 2012 Mean Brooklyn Rental Prices Studio One-Bedroom Two-Bedroom $1,812 $2,400 $3,065 2012 Mean Studio Rental Prices 2,853 $ 2,701 $ 2,101 $ 2,053 $ 1,971 1,959 $ $ 1,845 $ 1,761 $ 1,651 $ 1,451 1,441 $ $ 1,236 1,222 $ $ 1,121 $ DUMBO Bushwick Bay Ridge Clinton HillCobble Hill Park Slope Boerum Hill Fort GreeneGreenpoint Williamsburg Crown Heights Brooklyn Heights Bedford-Stuyvesant Prospect Lefferts Gardens page 5 Chelsea 212.721.2500 Gramercy Park 212.475.9000 Williamsburg 718.222.1545 189 8th Avenue, New York, NY 10011 115 East 23rd Street, New York, NY 10010 165 Bedford Avenue, Brooklyn, NY 11211 mns.com Brooklyn Rental Market Report YEAR END 2012 RENTAL PRICES RENTAL MEAN BROOKLYN 2012 Mean Two-Bedroom Brooklyn Rental Prices Rental Brooklyn Two-Bedroom 2012 Mean Prices Rental Brooklyn 2012 MeanOne-Bedroom Bedford-StuyvesantBay Ridge Bedford-StuyvesantBay Ridge $1,818 $1,428 Boerum Hill Boerum Hill Brooklyn Heights Brooklyn Heights $2,044 $1,580 $3,304 $2,711 Bushwick Bushwick $4,715 $3,086 Clinton Hill Clinton Hill $1,918 $1,760 Cobble Hill Cobble Hill $ $ Crown Heights 3,207 Crown Heights 2,477 $3,377 $2,674 DUMBO $2,064 DUMBO $1,735 Fort Greene Fort Greene $4,985 $3,712 Greenpoint Greenpoint Prospect Lefferts Gardens $3,302 Prospect Lefferts Gardens $2,715 Park Slope Park Slope $2,928 $2,579 $3,189 $2,416 Williamsburg Williamsburg $2,052 $1,594 $4,002 $3,133 page6 Chelsea 212.721.2500 Gramercy Park 212.475.9000 Williamsburg 718.222.1545 189 8th Avenue, New York, NY 10011 115 East 23rd Street, New York, NY 10010 165 Bedford Avenue, Brooklyn, NY 11211 mns.com Brooklyn Rental Market Report YEAR END 2012 NEIGHBORHOOD PRICE TRENDS Bay Ridge price changes of 2012* Studio One-Bedroom Two-Bedroom 1.8 9 % 28.78% 8.70% Bedford-Stuyvesant price changes of 2012* Studio One-Bedroom Two-Bedroom 34.09% 15. 21 % 1.02% Boerum Hill price changes of 2012* Studio One-Bedroom Two-Bedroom 3.82% 3 .11 % 0.29% Brooklyn Heights price changes of 2012* Studio One-Bedroom Two-Bedroom 9.61% 5.08% 9.34% *Average price changes were obtained by calculating the percentage of change between the average asking rents at the start of 2012 (January) and at the end of 2012 (December) page 7 Chelsea 212.721.2500 Gramercy Park 212.475.9000 Williamsburg 718.222.1545 189 8th Avenue, New York, NY 10011 115 East 23rd Street, New York, NY 10010 165 Bedford Avenue, Brooklyn, NY 11211 mns.com Brooklyn Rental Market Report YEAR END 2012 NEIGHBORHOOD PRICE TRENDS Bushwick price changes of 2012* Studio One-Bedroom Two-Bedroom 38.46% 13.91% 9.30% Clinton Hill price changes of 2012* Studio One-Bedroom Two-Bedroom 3.12 % 6.06% 4.56% Cobble Hill price changes of 2012* Studio One-Bedroom Two-Bedroom 2.89% 1.22 % 3.70% Crown Heights price changes of 2012* Studio One-Bedroom Two-Bedroom 1.12 % 14.67% 0.50% *Average price changes were obtained by calculating the percentage of change between the average asking rents at the start of 2012 (January) and at the end of 2012 (December) page 8 Chelsea 212.721.2500 Gramercy Park 212.475.9000 Williamsburg 718.222.1545 189 8th Avenue, New York, NY 10011 115 East 23rd Street, New York, NY 10010 165 Bedford Avenue, Brooklyn, NY 11211 mns.com Brooklyn Rental Market Report YEAR END 2012 NEIGHBORHOOD PRICE TRENDS Dumbo price changes of 2012* Studio One-Bedroom Two-Bedroom 0.46% 18.25% 2.99% Fort Greene price changes of 2012* Studio One-Bedroom Two-Bedroom 26.90% 19 .
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  • The Park Slope Parents Nanny Compensation Survey

    The Park Slope Parents Nanny Compensation Survey

    The Park Slope Parents Nanny Compensation Survey 2010 Copyright 2010 by Park Slope Parents. Any duplication, reproduction, or usage of this document or any portion thereof without written consent is prohibited. Nanny Compensation Survey 2010 0 Table Of Contents Methodology 3 Summary 7 Nanny Pay, Rates, Time Off, Raises, Bonuses & Benefits 22 Nanny Contract and Duties 38 Ending the Nanny/Employer Relationship 42 Paying On/Off the Books 47 Nanny Tenure, Experience, and Demographics 56 Findings from June 2008 Nanny Survey 60 Disclaimer 72 About Park Slope Parents 73 Nanny Compensation Survey 2010 1 Relevant Information on the PSP Website The Park Slope Parents website (www.parkslopeparents.com) includes a tremendous amount of information about Hiring a Nanny/Babysitter, including: Hiring a Nanny/Babysitter: Part 1: Preparation Hiring a Nanny/Babysitter: Part 2: The Search Hiring a Nanny/Babysitter: Part 3: On The Job Paying a Nanny/Babysitter on the Books Frequently Asked Questions Common Nanny Questions and Advice NEW in 2010! The PSP Guide to a Successful Nanny Share Nanny Compensation Survey 2010 2 Methodology Park Slope Parents conducted its SECOND Nanny Compensation Survey in October/November 2009. Over 800 parents participated in the survey. Participants were members of Park Slope Parents (68%) and other online groups (e.g., Hudson River Park Mamas, Dumbo Parents, BoCoCa, Flatbush Family Network) as well as other parents who had been forwarded the survey. NOTE: These data represent the behavior and attitudes of employers of Nannies. We fully acknowledge that to have a fuller picture of Nanny compensation we would need to also survey Nannies’perceptions and behavior.