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L Train


Are any brokers are seeing really big concessions or seeing clients who are turned off by the neighborhoods because of the L train renovation? 

Williamsburg and Bushwick are dead. Long live Williamsburg and Bushwick! (Honorable mention to Ridgewood.)
 
Last year I saw buyers and renters relish in having the upper hand in Williamsburg and Bushwick with the imminent L-train shutdown. Many passed on already super-low prices and rental deals. 
 
My, what a difference a year makes. Selling prices are up 5-%10% over last year in these neighborhoods in an otherwise depressed market. Landlords offering 2 months+ free rent and no fees have pulled back incentives as neighborhood demand has picked up. 
 
The fact is people from Manhattan go to Williamsburg and Bushwick on the evenings and weekends, not the other way around. Time to buy the Lyft stock. 
 
However, my favorite group of “angry people” are the ones how left Williamsburg and Bushwick in anticipation of the L train shut-down only to be chagrinned that it stayed open. Moving (and the costs with it) because of a temporary inconvenience?  It’s like cutting off your head because you have a pimple on your cheek.
 
 
 

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