MNS released a market report yesterday focusing on new developments in Brooklyn, and it looks like those properties for sale are in very high demand. MNS reported $307 million of new development sales in the third quarter, a 31 percent increase from the previous quarter. The median sales price is up to $687,318 and the median price per square foot rose above $700. According to MNS, that’s the first time the price-per-square-foot numbers have gotten that high. Not surprisingly, the big condo buildings brought in lots of money this quarter: The Edge in Williamsburg closed $40 million worth of sales, Dumbo’s 205 Water Street closed around $31 million in sales, and One Brooklyn Bridge closed $22 million. (The quarter’s top sale was at The Edge for $2,840,917; Williamsburg, as you can see above, is the neighborhood with the highest new development sales.) No word yet, of course, if worries about the waterfront locations post-Sandy could affect sales at new developments down the line. MNS also reports a market downswing in Prospect Heights, due to lack of inventory, and a rising price per square foot in the Cobble Hill and Boerum Hill areas. And, as The Real Deal noted, Crown Heights saw the largest quarterly increase in price per square foot, from $297 to $557 into this third quarter.
Brooklyn New Development Sales Rise 31 Percent Over Last Quarter [TRD]
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Coney Island’s Luna Park held a ground breaking ceremony today, above, for a big new roller coaster called the Thunderbolt. The coaster, which is scheduled to open May 22, will be the first at the beachside amusement park since 1910 to include a loop, The Wall Street Journal reported. The ride will go as fast as […]
Brooklyn, one building at a time. Name: Row houses Address: 123-127 Lefferts Place Cross Streets: Classon and Grand Avenues (corner Classon) Neighborhood: Clinton Hill Year Built: 1882 Architectural Style: Neo-Grec Architect: Amzi Hill Other work by architect: Hundreds of houses and flats buildings in Clinton Hill, Bedford Stuyvesant, Stuyvesant Heights, Crown Heights North, Park Slope, […]
This long-shuttered commercial space on the corner of Saratoga and MacDonough was being renovated when we passed by recently. Through the window at 83 Saratoga we saw a big room with a sanded wood floor and doors to two bathrooms. In 2012, a permit was filed for minor alterations to the interior. The building, located […]
This mid-19th century Italianate in Prospect Heights makes up in width (24 feet across) what it lacks in depth (40 28 feet). The double duplex is nicely renovated and has lots of cute old details, including arched entry doors, floors, marble mantels, a wood burning fireplace, tin ceilings and wedding cake plaster decorations. We’re guessing […]