Tim King, managing director of residential real estate brokerage CPEX, said that “downtown Brooklyn now has more college students than Cambridge, Mass.,” according to The Real Deal‘s Twitter feed, which is running from a so-called summit today on Brooklyn real estate.
Downtown Brooklyn might not be the most enticing neighborhood for some, but perhaps college students are simply scared by the hipsters of Williamsburg or the sheer adultness (look it up) of Park Slope. Or they love giant construction sites for heavily subsidized private developers.
Plus, Williamsburg seems to be getting more crowded these days—literally. David Maundrell, the president of Aptsandlofts.com, said at the summit that there is an “inventory crunch” on rentals and condos in that neighborhood.
And its demographic might be changing as well. Mr. Maundrell added that families and retirees are moving into Williamsburg as the hipsters move east along the L line.