Our friends at PropertyShark once again complied neighborhood data to provide a market snapshot of Ditmas Park. The boundaries used were Church Avenue to Avenue H and Coney Island Avenue to Bedford Avenue. Needless to say, the numbers are all over the place, but there’s no denying a general appreciation of apartment prices in the neighborhood.
Condos and Co-ops: The median sales price in the first quarter of 2005 was $135,777. By the last quarter of 2005 it rose to $223,209. The market peaked in the later half of 2010, with prices hitting as high as $491,465. The second quarter of 2012 looks a lot like 2010: prices, on a steady increase, came in around $446,250.
Houses: It’s hard to track a trend concerning the median sales prices of one- to three-family homes in Ditmas Park because the volume is so low. Property Shark recorded the highest median price in the first quarter of 2012, hitting $1.1 million. The market was at its lowest in the third quarter of 2011, when the median price was $590,000. Since 2005, a total of 467 homes have closed at a median price of $835,000.
Most Expensive Streets and Sales: The most expensive street in the nabe is Buckingham Road. Since 2005, four sales were recorded at a median price of $1.4 million. Second in the running is Ditmas Avenue. Since 2005, six sales were recorded at a median price of $1.1 million. The most expensive sale in the neighborhood since 2005 goes to the single-family at 484 East 17th Street. It sold in June 2007 for $1.9 million.
Lowest/Highest on the Market: The cheapest property on the market is a co-op at 1170 Ocean Parkway, Unit #9A. Ask: $89,900. The most expensive property now on the market is a landmarked one-family home at 114 Westminster Road, asking $2,349,999.
Grocery mogul John Catsimatidis’ real estate firm Red Apple Group has released renderings for 180 Myrtle Avenue, one of at least three large developments, all clustered together, it is building in Fort Greene. NY YIMBY found the renderings, designed by Dattner Architects. The renderings show a large, boxy building whose design elements are formed by intersecting rectangles of […]
A new boutique condo development has hit the market at 1329 East 17th Street in Midwood, with one-bedrooms starting at $399,000. The Graystone has “one bedrooms plus home offices,” according to the Aptsandlofts listing. There are currently five units on the market at the six-story building, which has a common roof deck. Each apartment is about 815 […]
Real estate investment firm LIVWRK Holdings is in contract to buy an industrial building in Red hook for $21,500,000, which it plans to convert into offices and “creative spaces,” The Real Deal reported. The renovated property should be ready for move-in by mid-2015, the firm estimated. Located right at the entrance to the Brooklyn Battery […]
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