Brooklyn Brownstones Drawing More Buyers
NEW YORK — Along with the overall return of the real estate market throughout the New York metropolitan area, brownstones in Brooklyn have had a particularly strong recovery as buyers put an ever-increasing premium on square footage.
“It is amazing,” says one real estate broker quoted in the New York Times story, titled “Brooklyn’s Gold Rush.”
“It is a level of activity I have not seen since 2006-2007,” she adds. “There are so many people looking for brownstone buildings, and there is just no supply.”
Many brownstones are being purchased to be used as single-family residences, as well as multi-family homes, which have been on the rise in recent months.
The top Brooklyn neighborhoods, according to the article, were:
- Boerum Hill, with a median price of $1.7 million, up 60 percent from last year.
- Park Slope, with a median price at $1.45 million, almost 20 percent higher.
- Red Hook, with a median price of $825,000, up 73 percent, although only a few properties were for sale.