Park Slope Brownstones: Next Stop Infinity
We’re not really buying the assertion in this week’s New York Magazine that Park Slope brownstone prices increased 90 percent year-over-year last year. The stat comes from Corcoran’s year-end report (who’s gonna hook us up?) and, as the article points out, isn’t necessarily a broad sample. Plus, the $3.35 million average could be skewed by…
We’re not really buying the assertion in this week’s New York Magazine that Park Slope brownstone prices increased 90 percent year-over-year last year. The stat comes from Corcoran’s year-end report (who’s gonna hook us up?) and, as the article points out, isn’t necessarily a broad sample. Plus, the $3.35 million average could be skewed by a handful of “outlier” sales at the top end of the spectrum. Nonetheless, it’s the kind of soundbite that’s likely to perpetuate itself throughout the press and blogosphere.
An Uphill Slope [NY Magazine]
Reader Reactions [Gothamist]
I spent the last year shopping for a townhouse in Park Slope (or other neighborhoods, but I was watching Park Slope pretty closely). There’s no way this number is reflective of the general Park Slope market condition. I believe prices were slightly up through the year, but nothing near 90%. The non-homogenous nature of the market makes it hard to generalize, but it’s clear that prices did not double in the last year.
Townhouses in Park Slope vary greatly in price depending on the exact location, size of the home and the embellishment.
St Johns to 5th St along 8th avenue and btwn 8th and PPW has the most expensive townhouses. The prices gradually decrease elsewhere.
The south and far west is clearly the most affordable part of Park Slope to buy a townhouse or a rowhouse.
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I think there are barely a handful of sales in the entire sample. (well maybe 2 handfuls – about 10). There’s $5.75 for the 2nd Street house and 3 others just above $3M.
Hard to believe they would even write the article without mentioning how few sales they are really talking about. But would not be getting the attention it has with the disclaimer.
Article doesn’t even bother to mention that its single family houses.
Very helpful anon. You can’t even give the direct URL because you haven’t even checked for it. The latest report is for mid year 2005. That is why bstoner is aksing to be hooked up cuz it aint on their site.
hook you up? it’s posted on their website. corcoran.com