brownstone prices per sq foot – where from here?

Categories: Real Estate

If the economy tanks (recession, not depression) and mortgage rates continue to drift up to maybe 8%, can anyone see brownstones in gentrified brooklyn suburbs dropping to $300 a sq foot? ($1m for 4 typical floors)?

Bear in mind they are that price already in bed-stuy, PLG, etc, and still hardly make sense as strict investments for rental..

If so, does that make condos in upmarket buildings crash from their lofty heights (up to $1000 for hanson?) as well?

By | 06/30/2006 6:55 PM