Brooklyn rent/value question

you rented it at $2,600 five years ago. You liked it enough then to pay that rent.
The landlord can probably get $2,600 from another new renter. Can you find an apt you like more in a better building for less/same rent?
Have you checked? Best to start looking.

Yes, I'm aware of all that, so I guess my question is more a general one about what the rental market is doing in this particular area. I don't doubt that I'm at 'about' fair market .. but am wondering what's going on out there.

I hope I can explain this correctly.... There is this feature on streeteasy called "search" where you can type in your parameters and see what comes up.

Ahh .. thanks. Always appreciate a pedantic response to what you apparently considered a stupid question (as opposed to simply ignoring me.)

and after you search, what good is knowing what's going on out there when you're in there and it sounds like you want to stay there.
All of the comps won't help. Unless you see those other apts. and actually like one of them the same or better than your apt. now.

not a stupid question.
I just don't think that if you really want to stay there, you should dispute a rent increase.
Those 5 increase-free years were a pretty good thing.

Truth - was responding to the other comment from E24. I appreciate your opinion.

I know, tpush.
Put it this way: Bay Ridge is not a happening neighborhood like C.Gardens.
A nice 1 bedroom rents for 1,600-1,700 a month.

In the newer all-rental buildings $1,800 or more.
That $2,600, even with a raise is sounding better to you already.

tpush: Ask your landlord how much he intends to raise the rent.
When he gives you a number you can ask him to fix the falling apart kitchen.
Get a lease and maybe he will give you another 5 years at that rent or small increases every year or two.
But he may just give you another year or two. At least you will get him to fix the kitchen.

I think the 'real' number on my place with a few thousand bucks of cosmetic upgrades, is about $2700 right now, and they'd probably list at $2800-$2900. This is what I've gathered from research. Of course if it stays on the market an extra month, that alone erases a $200 price bump for a landlord, not to mention the costs sunk in.

If the landlord likes you (and he must, you pay on time and don't ask for anything) he will probably be open to any repairs and updates the place needs.
If you can afford it and want to stay there (you will have moving costs to pay if you move) then take the raise with some nego and get what you can now.
Or start looking at some of the apts you just researched. Then you will have a realistic comparison and will not be trying to apply logic to an abstraction.

Good luck let me know how it goes.

I have been in the neighborhood 5 years as well, and rent prices have increased quite a bit during that time (I am always looking for a better deal); what you have doesn't sound like too bad a deal. And moving around here is expensive!

There you go, tpush. ca l confirms.

Really looking for a better deal is actually going out to look at apts. You guys may find something you like better.
But you won't know unless you go and see. Although online research is useful, it's just data and general description. until you look at the apts you don't know if it's a better living situation.

We looked at buying, but saw too much with post-renovation prices when the renos were not great quality.

move

Tpush what I suggest is to find something more renovated to your taste. Just the simple fact that the LL wants to raise it up after all these years shouldn't come as a surprise, no matter how dilapidated it is. The question should be how much does he want to raise it up? Is it worth moving out/paying brokers fees etc so that you don't have to pay an additional $150 or $200 a month? In the same respect I'm definitely sure if your patient enough you can find a nicely renovated 1 bedroom that size for about $2500-$2700, maybe $2300 if your willing to wait till Novemberish.