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A lengthy Times piece over the weekend took a look at changes in Crown Heights over more than a century through the lense of one house at 1372 Dean Street. It’s an interesting read, and it also contains an important nugget of news: After a ten-year slow build of changing demographics and increasing prices, suddenly home prices are way, way up. In 2010, the median house value was $561,237. As recently as December a town house selling for over a million dollars “was unheard of,” according to the story. In the last eight months, at least 11 such houses have sold for more than $1,000,000. Here’s how the story put it:

The house on Dean Street is more than just an address: it is a time capsule, chronicling the history and social transformation of Brooklyn. From farmland to society hub in the 19th century, to a home for middle-class black families after World War II, and now a destination for young professionals and investors, the northern section of Crown Heights has undergone significant changes over the past 125 years…The section of homes stretching between Nostrand and Kingston Avenues — Crown Heights North, where 1372 Dean Street sits — registered a 135 percent increase in white residents from the 2000 census to the 2010 census. The median house value jumped 126 percent, to $561,237. Since then, the change has been exponential. As recently as December, a town house in Crown Heights selling for $1 million or more was unheard-of, according to Gregory Todd, the Corcoran Group broker for 1372 Dean Street. “Now 11 have sold — all in the last eight months,” he said.

Do you agree?

125 Years at 1372 Dean [NY Times]
Photo by Nicholas Strini for PropertyShark


What's Your Take? Leave a Comment

  1. the money you speak of that buys houses is private money. The money that builds affordable houses is public funds. You need not confuse them, just send your politicains an ear full of the need for the latter.

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