Square Feet: Hotels Sprout in Trendier Parts of Brooklyn and Queens

The New York Daily News re

That Brooklyn houses one of New York City's hottest real estate markets is old news. But a look at some new data shows how uneven and concentrated the borough's transformation is. A number of Brooklyn neighborhoods have seen their residential property values appreciate at an incredible clip. According to PropertyShark's real estate blog:

Across New York City, hotels have been popping up like post-recession beacons of an improving economy. But the area around 29th Street in Manhattan has seen an especially noticeable transformation.

MGM Resorts International and Cadillac Fairview upped the ante in Toronto’s casino wars on Wednesday by unveiling their vision for Exhibition Place that includes up to 1-million square feet of retail, a C-shaped hotel and a new footprint for the Canadian National Exhibition.

New York is trying to turn Long Island City, a Queens enclave just across the East River, into a neighborhood with a fresher look.

Greenpoint has received a lot of attention lately for its role as the setting for the HBO mega-hit-series “Girls.” That exposure, brokers say, has boosted the neighborhood’s rental market. “We get more and more calls there for rentals every day,” said David Behin of the brokerage MNS.

It seems that the housing market is slowly but surely rebounding in America. Existing home sales and asking prices have crept up, and analysts report decreasing delinquencies and foreclosure filings.