April 19, 2017 Comments Off on Home Prices Boom in Brooklyn Neighborhoods Views: 323 New York News, Outer Boroughs New York

Home Prices Boom in Brooklyn Neighborhoods

April 20, 2017

Sales of new condominiums at new luxury towers pushed four Brooklyn neighborhoods onto the list of New York City’s highest median home prices, kept by PropertyShark.

In Brooklyn Heights, median prices grew more than any other neighborhood in the city, rising a dizzying 127% compared to last year, to reach $1.7 million. New, super-luxury condominium developments, like the Pierhouse at Brooklyn Bridge Park (pictured), blasted the median price up to that lofty number.

Median prices also more than doubled (104%) in Boerum Hill, where 93 of the 139 sales in the first quarter were at a single development: The Boerum. New development also pushed median home prices up 76% in DUMBO. In Manhattan Beach, on the east end of Coney Island, median home prices grew 56% to $1.5 million — though that’s based on just nine home sales in the first quarter.

Tribeca still has the highest New York City median home price ($5.1 million), followed by SoHo ($3.4 million) and Hudson Square ($2.5 million).

Read More at PropertyShark

For comments, questions or concerns, please contact Bendix Anderson

Subscribe to Connect Daily New York

Tags: , , , ,

Comments are closed.