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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There will be five homes, all with gardens or landscaped decks, on The Brooklyn Heights Association’s house tour this year. Also on the program are refreshments and guided tours of the sanctuary at the historic Plymouth Church of the Pilgrims. The tour takes place Saturday, May 10, from 1 to 5 pm. Tickets ($30 for members […]
Brooklyn, one building at a time. Name: The Decatur Address: 142-144 Decatur Street Cross Streets: Corner Marcus Garvey Boulevard Neighborhood: Stuyvesant Heights Year Built: 1888 Architectural Style: Romanesque Revival Architect: George L. Morse Other work by architect: Temple Bar Building – Court Street, Franklin Trust – Montague Street, Abraham & Straus annex – Livingston Street, […]
Brooklyn-based real estate firm Realty Collective will open an office in Clinton Hill, its fourth location. The official opening of the office at 466 Grand Avenue will take place Sunday April 27, the firm said in a press release. The new location will also handle business in Fort Greene, Bed Stuy, Crown Heights and Prospect Heights. Its […]
OK, it’s really narrow and there are a lot of down lights but this Greenwood Heights house at 396A 19th Street looks pretty cute to us. Goes to show what some great rugs and Timorous Beasties wallpaper can do, right? That bath looks pretty slick, and we also like the new unpainted clapboard exterior. We’re not so […]