Boerum Hill is Now Brooklyn’s Most Expensive Nabe


Yesterday PropertyShark posted the above graph ranking the median sales price of co-ops, condos, single-family and two-family homes sold in 2012. Dumbo, previously ranked the most expensive Brooklyn neighborhood, was dethroned by Boerum Hill, which is now the borough’s most expensive address and is fifth city-wide, with a median sales price of $950,000. Dumbo, at $869,256, comes in at ninth place overall. Boerum Hill has seen a huge property value increase in the past eight years: since 2004, the price per square foot on residential sales increased by 30 percent. As The Real Deal noted yesterday, sales at 233 Pacific Street (which sold 20 units for more than $1 million each) account for some of the big sales jump. On a related note, you can check out this Property Shark map, just posted, tracking all the co-op and condo sales in Brooklyn in 2012. The map also tracks average price per square foot.
Move over Dumbo, Boerum Hill is Brooklyn’s Top Neighborhood [PropertyShark]

What's Happening