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]
A newly constructed rental building at 150 Broadway in Williamsburg launched leasing just before Thanksgiving and is already discounting its rents, Curbed reported. Ideal Properties is marketing the building, which has dropped asking rents on all five of its units by $50 to $450 this week. The developer is restaurateur Vittorio Antonini, who owns La […]
A larger than anticipated crowd of over 200 people showed up to discuss their concerns and wishes and help plan the future of Gowanus development Monday night at The Children’s School on Carroll Street. The meeting was the first of a series of public planning forums called Bridging Gowanus convened by local politicians about the ongoing development […]
Brooklyn Historical Society to Present Exhibition on Abolitionists [NY Times] City Subpoenas Secret Tapes of Alleged Crime Report Manipulation in Bed Stuy [NY Times] With Rental Demand Soaring Across U.S., Poor Are Feeling Squeezed [NY Times] Brooklyn Tech Program Aims to Draw Students to Science [NY Daily News] Residents Fear Move by Two Brooklyn Post […]
Hostel Environments: AirBnB Now Trying to Sweet-Talk Bill de Blasio Directly [Curbed] Netting up Around Fox Savoy Theater in Crown Heights [Curbed] Franklin Park Reading Series Year-End Bash TONIGHT [ILFA] First Significant Snowfall of the Season Expected Tomorrow [Gothamist] Thousands of City Homeowners Stand to Lose out on State Tax Break [Observer] Arepas in the Afternoon [Brooklyn Based] Why This Couple Named Their Ditmas […]
Community Board Two will vote on whether or not to landmark the 88th Precinct building in Clinton Hill at its general meeting this Wednesday. They have said in the past they support landmarking the 120-year-old Romanesque Revival structure at 298 Classon only if a new home is built for the 88th Precinct. “The police department has been looking […]