The average household income in Downtown Brooklyn and surrounding neighborhoods is expected to double in two years, according to marketing material for 345 Adams Street. Roger Greenstone, who’s eponymous firm is marketing Muss Development’s two floors of retail in the building, told us he expects to score high-end tenants that will cater to affluent residents in the sorrounding community, a contingency that’s quickly taking over. Last year, Scan/US Inc. estimated households in Downtown Brooklyn, Brooklyn Heights, Fort Greene, Cobble Hill, Boerum Hill and Park Slope earn an average annual income of $87,139 based on U.S. Census Information. The Downtown Brooklyn Partnership estimates that number will jump to $172,000 $142,000 by 2010 thanks in part to 27,000 new condos under construction, according to the brochure. (Update: DBP just alerted us to the fact that Greenstone had the number wrong.) Some of those projects are presently stalled, but people have already moved into others like One Hanson Place and construction cranes are everywhere. Even if the increase is not quite double, it will still be pretty significant. See the full data after the jump…
Developer to Air Out 345 Adams Street [Brownstoner]
Chan upbeat about Downtown Brooklyn [Real Estate Weekly]