Is It Still Affordable To Live In Kensington?

If you were hoping to keep Kensington a secret a bit longer, it looks like time’s up. The New York Times has a profile of the neighborhood in its real estate section, declaring it a diverse neighborhood that’s growing more appealing to those who are getting priced out of other Brooklyn neighborhoods.

Neighbor Liam McCarthy, who owns the real estate agency JMKBK, told the Times it’s “the last affordable neighborhood before you get to Windsor Terrace and Park Slope if you’re trying to move closer to the city.”

Some of the prices the Times uses to prove that point might still seem a bit out of reach, like the single-family home at 241 East 3rd Street that sold for $1.05 million in 2013, but for condos and co-ops they say they’re running between $130,000-$650,000. As an example of what’s available now, another agency mentioned in the piece, brooklyn real, has a 1-bed co-op on Dahill listed for $285,000.

As for rentals, the story cites those running between $1,200-$2,500, depending on the number of bedrooms. An example of one: JMKBK currently has a 1-bedroom on Fort Hamilton near East 4th listed for $1,950.

Of course, while this kind of high-profile coverage can be part of what helps drive prices up, it may also have some more welcome side effects.

“Hopefully this new fancy status will mean that we might get an actual bar within walking distance,” neighbor Gala Silnitsky wrote in the comments of the Kensington Facebook group. “I mean other than Denny’s, of course.”

So, what do you think? Are there still deals to be found in the neighborhood? Or is the affordable bubble about to burst?

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