Search
 

Decade-Long Study Tells Brooklyn's Success Story

NEW YORK CITY-New research reveals sharp increases both in the amount and value of sales of condominiums and co-ops across the borough.

By Rayna Katz | Updated on January 10, 2014

NEW YORK CITY-Taking an in-depth view look at Brooklyn’s rise to become an international destination, aptsandlofts.com has released its first-ever 10-year sales study of the borough.

Among the most notable findings in the research, activity has picked up sharply in Bed-Stuy: condo sales rose from 12 in 2003 to a projected 132 sales in 2013 while townhouse trades jumped from 574 to 744 in that time. The average condo price in Williamsburg in 2003 was valued at $331,000, while in 2013 the projected average condo price in Williamsburg is valued at $827,000, a nearly 150% increase. In Park Slope, on average there were about 500 co-op and condo sales per year from 2005 until 2012. And the Brooklyn Heights townhouse market exhibited an impressive gain over the past decade, rising from an average sale price of $1.9 million to $4.9 million.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.