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Outer boroughs of NYC see housing boom

Builders of rental and for-sale properties are being drawn to Brooklyn and Queens neighbourhoods where land is more plentiful and expenses are lower than in Manhattan

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Brooklyn and Queens are seen past the Empire State Building in midtown Manhattan. Developers are betting on high demand for their projects as the costs of living in and close to Manhattan continue to climb.

New York

FOR AvalonBay Communities Inc, the next promising area for New York development is in south-east Brooklyn, at the second-to-last stop on the B train and off a bustling strip of discount stores and fruit stands.

There, in Sheepshead Bay, the second biggest publicly traded