Multi-Family Sales Boom in Brooklyn
Multi-family buildings are selling like crazy throughout Brooklyn, and the biggest growth is happening in the rapidly gentrifying neighborhoods of Crown Heights, Bed Stuy and Bushwick, according to a report from Ariel Property Advisors highlighted by The Real Deal. In those three neighborhoods alone, 252 properties were sold in 170 transactions totaling nearly $710,000,000. Sales in Crown Heights, Bed…
Multi-family buildings are selling like crazy throughout Brooklyn, and the biggest growth is happening in the rapidly gentrifying neighborhoods of Crown Heights, Bed Stuy and Bushwick, according to a report from Ariel Property Advisors highlighted by The Real Deal. In those three neighborhoods alone, 252 properties were sold in 170 transactions totaling nearly $710,000,000. Sales in Crown Heights, Bed Stuy and Bushwick made up a quarter of all the borough’s investment transactions. Multi-family sales hit an overall dollar volume of $1.7 billion in the first half of 2014, a 120 percent increase from last year. Meanwhile, in Williamsburg and Greenpoint, 128 buildings sold in 101 transactions that totaled $544,000,000.
Multi-Family Sales Take off as Brooklyn Market Surged in First Half of Year [TRD]
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