office 718 858 8238  |  info@brennanre.com

News & Notes

Brownstone Brooklyn Market Report: 1Q18

Overview
We continue to expand our coverage of the neighborhoods we are actively working in with our clients. This quarter, we have added Gowanus, Fort Greene, Clinton Hill and Prospect Heights to the existing seven neighborhoods—Brooklyn Heights, Cobble Hill, Carroll Gardens, Boerum Hill, Columbia Street Waterfront District, Park Slope and Dumbo. We will continue to add coverage of additional neighborhoods in the coming quarters.

Townhouses
In the brownstone Brooklyn markets we cover, over $222MM worth of 1- to 4-family townhouses traded hands in 1Q18, versus $259MM during 1Q17, a decrease of $37MM, or 14.2%. However, the average sales price increased 9.97% from last year. Inventory remains low and well-located homes under $3.5MM continue to draw significant interest from end-users and investors. Here are three notable transactions;

$9,150,000 ($2,043 psf) – 181 President Street, Carroll Gardens | 4,478 sq ft 1-family
$8,580,000 ($1,134 psf) – 838 Carroll Street, Park Slope | 7,565 sq ft 2-family
$7,600,000 ($1,174 psf) – 374 Paci c Street, Boerum Hill | 6,473 sq ft 2-family

Condominiums
Over $318MM worth of condominiums sold in 1Q18, versus $500MM during 1Q17, a decrease of $182MM, or 36.4%. The average sales price decreased 2.76% from last year. Sales volume dropped significantly year over year but is stable in relation to the prior quarter. Here are some notable transactions;

$5,900,000 ($1,170 psf) – 321 Pacific Street, #321, Boerum Hill | 4 bedrooms, 7 baths
$5,909,262 ($1,486 psf) – 130 Furman Street, #S-100, Brooklyn Heights | 4 bedrooms, 3 baths
$5,250,000 ($1,576 psf) – 25 8th Avenue, #1&2, Park Slope | 3 bedrooms, 3 baths

 

Click here to read the full report.

If you would like for one of our team members to discuss this report with you in further detail, please email us at Ask@BrennanRE.com or give us a call at 718.858.8238. Looking forward to connecting with you!

 

    You May Also Like:

    • Brownstone Brooklyn Market Report: 4Q17

      January 26, 2018 Brennan's Market Reports are a major resource for home sellers and home buyers, as we are presently the only real estate brokerage offering a neighborhood-by-neighborhood analysis of townhouse and condominium sales activity in Brownstone Brooklyn. We do not use a third party to aggregate our data, which is a testament to our superior knowledge of three things: Real Estate, Marketing, and Brooklyn.
    • Brooklyn Rental Market Report: Summer 2017

      October 19, 2017 For the first time in history, renters can have all the luxury and amenities of new construction, and still be just a stones throw from the feel and charm of historic brownstone Brooklyn.

Ask the Experts





* required

Do you have a question for our experts?

Brennan agents are your local experts — attuned to the fluctuating New York real estate market. Let us provide you with the answers to your real estate questions. Simply fill out this form, and a Brennan agent will get back to you shortly.