In March 2025, Brooklyn's rental market exhibited a 49% increase in leasing velocity month-over-month, marking a 17% surge year-over-year. This growth comes as Manhattan faces a 7% decline in new leases. With significant demand for affordable housing, developers are responding with diverse projects in neighborhoods like Park Slope, Gowanus, and Sunset Park. Longview, a new mixed-income development, exemplifies this trend with 197 residential units, half of which are affordable, reflecting a strategic approach to meet the needs of renters seeking value in Brooklyn.
"Brooklyn's leasing velocity soared 17% year-over-year, the highest figure reached since 2021, indicating growing demand for affordable housing alternatives in the borough."
"What makes Longview unique is its strategic position, integrating elements of Park Slope's greenery and Gowanus' industrial style into its design, which addresses the growing demand for diverse housing options."
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