It comes as no surprise that buyers are willing to pay an increasing amount of money for Brooklyn properties. The folks at PropertyShark crunched the numbers for luxury residential sales happening in the borough, and those numbers are big and only getting bigger. PropertyShark tracked residential sales above $1 million from 2007 to 2012. Luxury property sales registered a six-year record in 2012, after a high in 2006, with 945 closed transactions total in 2012. Unsurprisingly, 2009 marked the lowest year of said sales, at 350. But the number of the sales has increased yearly since 2009, when the total share of luxury transations accounted for 4.5 percent of total sales. Now these transactions account for 10 percent of the total number of residential sales in Brooklyn. The neighborhoods that bring in big bucks have not significantly changed in a five-year span, with Williamsburg, Park Slope and Brooklyn Heights coming out on top. Despite the neighborhoods being the same, the number of $1 million-plus transactions have increased dramatically. In Williamsburg, these sales are up by 173 percent, in Prospect Heights the sales are up by 100 percent, and in Brooklyn Heights they’re up by 87 percent. Wowza. Click through to see lots of charts with all the numbers.
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Brooklyn, one building at a time. Name: Originally Elephant Club, now ground floor retail Address: 1409-1411 Fulton Street Cross Streets: Marcy and Tompkins Avenues Neighborhood: Bedford Stuyvesant Year Built: 1888 Architectural Style: Romanesque Revival Architect: 1409 unknown, perhaps Sibell & Miller, who built 1411 Landmarked: No The story: In September of 1888, the Echo Bowling […]
Urban Market opened Friday at the foot of the Williamsburg Bridge at 11 Broadway. The 16,000-square-foot store is an offshoot of Key Food and aims to offer both upscale and basic items, according to a press release sent out by landlord L+M Development Partners. The store features a gourmet deli with a kosher section, a […]
This four-story brownstone at 789 Quincy Street has a nice amount of original detail, but looks like it could use a little polishing. The listing says it’s “fully functioning and awaiting your cosmetic upgrades.” It’s in the northeast corner of Bed Stuy near Broadway and the Gates stop. How do you like it and the […]
This three-bedroom condo at 1 Montgomery Place in Park Slope is very impressive. The 2,624-square-foot duplex has been carved out of a former mansion and includes a 750-square-foot private garden. The layout is much more generous than what you’d find in a typical brownstone and there are lots of original details. Asking price: $2,650,000. 1 […]