Why Brooklyn Apartment Rents Are Finally Dipping; Hear Common’s Brad Hargreaves talk about scaling startups and more

Why Brooklyn Apartment Rents Are Finally Dipping – A new report shows the median monthly rate falling 1%. The main reason: all that new construction By Arden Phillips – August 11, 2017 An eager Brooklyn landlord put out a sandwich-board sign to lure passers-by (Photo by iStock by Getty Images) “Falling rent” and “Brooklyn” are rarely heard in the same sentence. However, the numbers confirm that it’s no longer a contradiction in terms. In a market report released this week, Douglas Elliman Real Estate said that the median rental price for Brooklyn apartments declined 1.1% in July, to $2,795, vs. the same month a year ago. The net effective rent, including concessions, dropped 1.8%, to $2,745, declining for the third month in a row. The share of new […]

Hear Common’s Brad Hargreaves talk about scaling startups – The founder of Brooklyn coliving startup Common appeared on the Twenty Minute VC podcast to talk about building a business.Brad Hargreaves spoke with host Harry Stebbings about getting a company to scale, which is interesting for a real-estate startup with very IRL roots.“Why does Brad think that in a scalable business not every element has to scale?” the Twenty Minute VC website teases. “What does he mean by this? What proportion of elements have to scale? What are the inflection points in scaling that suggest potential for venture returns?” Listen Last we checked, Common was doing some scaling: Two new houses in Ridgewood and Prospect-Lefferts Garden will bring Common to 14 homes in four cities. -30-

Butler Releases Affordable Housing Policy Plan For District – Democratic City Council Candidate Henry Butler (41-Brownsville, Bedford-Stuyvesant, Crown Heights, East Flatbush) this week released a detailed policy paper on how he would tackle affordable housing focussing on new development, existing NYCHA housing, home ownership and seniorliving. The policy plan comes as whoever wins the primary will have to deal with Mayor Bill de Blasio’s recently released mandatory illusionary Brownsville Plan, which on paper allows developers greater density to build in exchange for 2,500 new affordable housing units. Henry Butler Photo by Kelly Mena “I created this plan because it addresses the core issues happening in our district, and gives concrete ideas that will ensure that everyone in our community can afford a place to call home. Displacement has become a growing problem […]

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