Here is a report in today's Crain's New York Business on the Brooklyn renaissance, and supposedly giving reasons for it. The author is John Sodaro, identified as a graduate student at CUNY. He reports on comments made at a panel discussion on the topic. Undoubtedly, Mr. Sodaro is not old enough to have personal memory of what brought Brooklyn so far down, or what enabled it to start getting back up.
A guy named Alan Fishman of Ladder Capital Finance offered this remark: