REBNY Report: Brooklyn Real Estate Still Rockin'
A mid-year report from the Real Estate Board of New York shows that Brooklyn real estate prices remain very strong, despite a broad market slowdown around the country. On top of that, some Brooklyn nabes are doing better than Manhattan. The average sales price for one- and two-family Brooklyn houses for the first half of…
A mid-year report from the Real Estate Board of New York shows that Brooklyn real estate prices remain very strong, despite a broad market slowdown around the country. On top of that, some Brooklyn nabes are doing better than Manhattan. The average sales price for one- and two-family Brooklyn houses for the first half of ’06 was $586,000 – a 15.6 percent jump from the $507,000 seen in the same period last year – while prices for Brooklyn co-ops and condos also continued to increase. The average apartment sold for $491,000 in the first six months of this year – up 4 percent from $472,000 for the same period last year. “Brooklyn’s always had its unique characteristics and has been a first choice of many buyers, but now more and more people are moving to Brooklyn from Manhattan because prices are cheaper and it’s a great option,” said Michael Slattery, REBNY’s senior vice president.
Brooklyn’s Real Estate Bucks Market [NY Post]
Photo by davidfg
I for one will be happy when the ‘crash’ comes. Brooklyn used to be an exciting outpost/mecca for really cool people; fashionistas, artists, intellectuals and plain old hard-working middle class folks. It used to be fun and interesting.
Now it’s been over-run by materialistic yuppies who traded their soul for the almighty $$. And all they can do at this point is whine and growl because they’re finding themselves outpriced by an even richer population of gentrifiers.
Go home y’all…there are no more ‘deals’ to be had. Don’t even think about coming to the bk when the crash happens…we don’t want you here.
Bring on the ‘crash’ and the return to utopia; bring on the pimpers paradise.
It is over folks, get real the market is begining a hard crash put your seatbelts on.
Dropping an asking price is not same thing as selling prices are falling.
Many people ask more than value to begin with in hot or slow or regular markets.
wow…the readership went from “charge” to “growl” in a matter of months…
NY Post get real!!
Anno 10:59 I bought a 4 family townhome in Carroll Gardens and to be honest the seller took $225,000 off the asking price but I know the Home is down another $75,000 from what I paid. What can i do nothing but wait this out. While the building is 25% vacant i hope for the best.
1:21 – ever been in the eye of a hurricane?
You’ve got it slightly wrong on Tiffany Place. I live on the block. The problem with the new condos at 20 and 60 Tiffany is that they just plain suck. 60 Tiffany is a really crappy renovation (thank you Mr. Scarano). 20 Tiffany is actually built really well, but the apartment layouts are badly designed. Quality still sells quickly.
Oh, and the huge volume of upscale units that came to market in Dumbo, sopping up demand at the expense of other nearby neighborhoods (Heights, Cobble Hill etc).