When Elizabeth Stribling moved to Brooklyn Heights in 2008, it led to a big change for her company, Stribling & Associates.
She has long been perceived as the doyenne of Upper East Side real estate — and the move didn’t go unnoticed by the industry.
Those postcard views of Manhattan were hard to beat so, in 2013, seeing that Brooklyn was now a first choice for buyers and renters, Stribling opened an office at 386 Atlantic Avenue in Boerum Hill.
Since then, from the street to the skyline, we all know what’s happened to real estate in Brooklyn.
“This stretch of Atlantic Avenue is bustling with shops and services,” said Gina Castellano, Stribling’s office manager, who points to recent additions to the neighborhood like cult British paint brand Farrow & Ball, Arco Hair Salon, Kaight, and Boerum Hill Chemist. “When we host meetings or celebrations, we make sure to have our menu filled with food from neighborhood restaurants like French Louie.”
With 29 agents in Brooklyn — 10 percent of its entire team — Stribling participates in the Atlantic Antic, as well as a holiday window-decorating competition for the Atlantic Avenue Local Development Corporation.
Recognizing the growing Brooklyn market, they’ve recently launched the Brooklyn Luxury Report, a weekly dispatch that tracks all contracts signed in the borough over $2 million.
“Over the past several years, we have started to see the emergence of a true ultra-luxury market in Brooklyn,” said Garrett Derderian, Stribling’s director of data and reporting. “Price growth is not only occurring in the brownstone and waterfront markets, but in rapidly transforming areas such as Downtown Brooklyn.”
Stribling already releases quarterly market reports that cover the entire borough, as well as a semi-annual luxury report that covers both Brooklyn and Manhattan.
According to the latest quarterly report, the average sales price for the entire borough is $913,493 – and Northwest Brooklyn is increasingly competing with Manhattan when it comes to pricing.
“Here, the development of a high-end condo market continues to see record-setting prices and transform the skyline,” said Derderian.
Any questions about buying, selling or renting in Brooklyn, get in touch with Stribling & Associates here.