Plan Cuomo at the L-train caused increased demand for rental housing in Wilmsberg

Real estate experts in new York say that the demand for rental housing in Williamsburg has grown by almost immediately after Governor Andrew Cuomo announced a revision of the closure plans at a year and a half to repair the line L-train. Recall that the demand for rents has been declining since the end of the year because of planned transportation problems.

Peek inside a Williamsburg townhouse made entirely of shipping containers.

— Curbed NY (@CurbedNY) December 29, 2018

According to Cuomo, the use of new technologies will allow to conduct the repair without stopping traffic. Thus, problems are resolved and many who wanted to change jobs or place of residence, it seems he changed his mind. However, real estate agents have also think the abolition of their extra enticing offers, specially introduced at the end of the year for the salvation of the rental market in the area. May disappear of the proposal on a two-year lease and will be discarded discounts. Prices in Williamsburg can be aligned with the rest of new York.

Plan Cuomo at the L-train caused increased demand for rental housing in WilmsbergDmitry Stasyuk
Real Estate Broker Associate at Evans Real Estate

At the request of the situation was commented by the expert new York real estate of Evans Real Estate Dmitry Stasyuk. He agreed that the statement of Governor Cuomo has made major adjustments in the real estate market:

«The vast majority of those who live in Brooklyn, work in Manhattan. Accordingly, each day traveling by subway to Manhattan. Because it was assumed closing lines, the demand for real estate plummeted, as people difficult to get to work. And two-year contracts can’t be saved. Filmed only those who are in Manhattan to go every day is not necessary. Now, after the lifting of the full closure of the tunnel, will play the price back.»