With inventory low and demand high, prices for Brooklyn townhouses are jumping, with more and more listings selling for over $3 million, reported The Real Deal. Such prices are frequently seen in the neighborhoods of Brooklyn Heights, Cobble Hill, and Park Slope. In the latter area, for example, there are currently 10 townhouses listed for more than $3 million, up from only one in the fourth quarter of 2011. The average sales price for townhouses there increased substantially, by 40 percent, in the fourth quarter, to $1.7 million, up from $1.2 million from the same period in 2011. Meanwhile, over in Manhattan, the average sales price for townhouses surged only 6 percent. Prices in Cobble Hill were up 108 percent year over year in the fourth quarter. Brooklyn Heights bucked the trend, actually decreasing 22 percent in the same period, but still holding value with an average sales price of $3.6 million. Readers would do well to bear in mind, of course, that the sample size of closed townhouse sales for any given Brooklyn neighborhood is small. Incidentally, the article also mentions, 113 Prospect Park West is in contract for $4.75 million. To what do you attribute the uptick in prices for Brooklyn row houses, and do you think prices will hold?
Brooklyn Brownstones Bringing Bigger Bucks [TRD]
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Next weekend, the third annual Brooklyn Zine Fest returns to the Brooklyn Historical Society with panels and a wide variety of publishers, artists and writers selling their wares. Panels will discuss topics like queer and trans zine writers, zine collecting and publishing zines anonymously. And over 150 zine enthusiasts will be selling self-published magazines on everything […]
Brooklyn, one building at a time. Name: Row house Address: 245 Front Street Cross Streets: Bridge and Gold Streets Neighborhood: Vinegar Hill Year Built: 1852-55 Architectural Style: Greek Revival Architect: Unknown. Landmarked: Yes, part of Vinegar Hill HD (1997) The story: Like stumbling upon Brigadoon, Vinegar Hill is hidden from most people’s view, tucked away […]
A convention center is planning to open at 79 Franklin Street in Greenpoint later this year, possibly in October, according to DNAinfo. Currently under construction, the Brooklyn Expo Center will have 28,000 square feet of space for exhibitions and meetings. There will also be a cafeteria and parking. A reader who lives nearby said it looks […]
Although obviously in need of work to turn it into living space, this has got to be one of the coolest properties for sale we’ve ever seen. There’s tons of curb appeal (or will be, pending a fresh paint job), beamed ceilings, arched windows and doors, diagonal floors and three skylights in this seemingly untouched […]