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Q1 Resi Prices Rise in Brooklyn

NEW YORK CITY—In a report that tracks several areas of the popular borough, average residential sale prices were nearly $1.5 million in the first portion of 2016.

Aleksandra Scepanovic Scepanovic: “Residential real estate prices reached new heights in 2015 and this is continuing in 2016.”

NEW YORK CITY—Residential sales prices increased 3.7% in Brownstone Brooklyn and North Brooklyn in the first quarter of 2016 year-over-year, according to the Brownstone Brooklyn and Beyond market report released today by Ideal Properties Group. This represents a slight decrease of 2.4% from the last quarter of 2015.

The quarterly research evaluates Brooklyn’s most popular neighborhood sales markets, with “Brownstone Brooklyn” or the “Northwest” section of the bureau representing Boerum Hill, Brooklyn Heights, Carroll, Gardens, Clinton Hill, Cobble Hill, Park Slope, Prospect Heights, Windsor Terrace and the Columbia Waterfront District, as well as parts of Downtown, DUMBO, Fort Greene, Gowanus, Red Hook and Vinegar Hill, while North Brooklyn comprises Williamsburg, the Navy Yard and Greenpoint.

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Rayna Katz

Rayna Katz

Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.

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