Thousands of Apartments, Other Amenities Coming Downtown

Downtown Brooklyn is really heating up: Commercial sales boomed across the borough with downtown in the lead in 2013, and about 14,000 new units of housing are in the works just in downtown alone. Compare that to the six years ended in 2012, when 6,500 new units of housing were created downtown, said DNAinfo.

A report out from the Downtown Brooklyn Partnership pointed out other recent changes to the area: 30 new restaurants and stores, the opening of two theaters, a new plaza, and plantings on Flatbush Avenue. In the works are a new library, BAM cinema, and the 651 rehearsal space.

“More than 3,300 housing units are currently under construction in downtown Brooklyn — 419 of which are affordable — and another 9,000 market-rate and 2,900 affordable units are in the planning stages for the neighborhood,” said DNAinfo.

Commercial sales increased 393 percent, to more than $5,000,000,000, across the whole borough in the last four years, according to a report from TerraCRG cited by The Real Deal. The area comprising downtown and Park Slope “had the borough’s highest dollar volume, with sales up 67 percent to $1.5 billion from last year,” said the publication.

The Wall Street Journal noted that move ins will begin soon at Brooklyn’s tallest building, 388 Bridge Street.

Downtown Brooklyn to See Surge in New Residential Units, Report Says [DNAinfo]
Brooklyn Commercial Sales Top $5 Billion in 2013: Report [TRD]
Tower at 388 Bridge Street Is First Big Condominium Development Since 2008 [WSJ]