A Softer, Gentler Prospect Heights Market
A new article in The Real Deal takes a look at the Prospect Heights market and sees some “softening.” StreetEasy numbers show that median prices in the neighborhood dropped 4.8 percent, from $619,000 to $589,000 between he second quarter last year to the second quarter this year. The mag’s reporter visits open houses and see…
A new article in The Real Deal takes a look at the Prospect Heights market and sees some “softening.” StreetEasy numbers show that median prices in the neighborhood dropped 4.8 percent, from $619,000 to $589,000 between he second quarter last year to the second quarter this year. The mag’s reporter visits open houses and see “light” traffic (only two couples in an hour at The Washington Condos, above), though local broker Doug Bowen of Core Realty says Prospect Heights’ prices are stable and there’s high demand and price premiums for Vanderbilt Avenue pads. Bowen says new developments east of Vanderbilt are going for between $600 and $750 a foot. One prospective buyer at an open house said she was enjoying the lack of frenzied competition for properties in the area and noted that “this might be the right time to buy because it seems slower, less frantic, more relaxed.”
Inside the Open Houses of Prospect Heights [The Real Deal]
Jeez I think 1:02 has to be one of the most ignorant posters ever. Keeps on insisting that the Slope is superior to Prospect Heights because of the park? Guess he/she doesn’t get out of the Slope very often.
Shut up about park slope. 1:00 is right. This isn’t about Parks slope. Stop with the slope jacking.
“a neighborhood with “upside” shouldn’t be priced close to a prime neighborhood with one of the best parks in nyc. period.”
But it is so maybe what you think is prime is not so prime. Clearly many people are choosing prospect heights when they have enough to buy in parks slope according to you. Maybe it’s because it is a better neighborhood and a better investment and prime prospect heights is not further from the park than prime park slope. Again, look at a map.
What ever happened with the Scarano mezzanine plywood issues at the Washington (pictured)?
“I’m from NoCal.”
You might have been there, but nobody from there would ever call it that.
“We just bought a coop in PH a few months ago. Had we waited we might have gotten a better price…” – 12:50
Did you read that, 12:24? (No pun, 12:50. You sound like you can afford the opportunity cost of a better deal. Just making a point that, for average buyers looking for their ideal property in their ideal location, it DOES pay to wait at this stage in the market. Congrats anyway.)
whatever brokers. there are a ton of incredible park slope brownstones for 1.7-2.3mn in prime areas. i don’t really care how “nice” the house is. if that’s all you care about, i know of some mansions in bed/stuy for less than a milli. a neighborhood with “upside” shouldn’t be priced close to a prime neighborhood with one of the best parks in nyc. period.
“Keep saving your pennies 11:37. Eventually you’ll be able to afford your very own place back home in some cleveland suburb.”
Thanks for the motivation, 12:24, but that’s too many digits to keep track of. I’ll count my savings/T-bills/gold in the $100K demomination. I’m from NoCal.
OK people, it is a nice neighborhood and so is park slope and I suspect prices are softening in both.
This isn’t a comparison of prospect heights and park slope even though it seems any time any area is mentioned the PS boosters think they are part of the conversation. This is a comparison of PH now to PH before. Moreover it seems to be about condo prices, not brownstone prices.