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Page 1: BROOKLYN - mns.com · 2 brooklyn new development market report m.n.s real estate nyc mns.com 718-222-0211 40 n 6th st brooklyn, ny 11249
Page 2: BROOKLYN - mns.com · 2 brooklyn new development market report m.n.s real estate nyc mns.com 718-222-0211 40 n 6th st brooklyn, ny 11249

2

BROOKLYN NEW DEVELOPMENT MARKET REPORT

M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249

Page 3: BROOKLYN - mns.com · 2 brooklyn new development market report m.n.s real estate nyc mns.com 718-222-0211 40 n 6th st brooklyn, ny 11249

CONTENTS

3

INTRODUCTION ................................................................................................................................................................................................................

MARKET SNAPSHOT.......................................................................................................................................................................................................... NEIGHBORHOOD PRICE TRENDS .......................................................................................................................................................................................

BAY RIDGE...........................................................................................................................................................................................

BEDFORD-STUYVESANT........................................................................................................................................................................

BROOKLYN HEIGHTS.............................................................................................................................................................................

BUSHWICK.........................................................................................................................................................................................

CARROLL GARDENS...............................................................................................................................................................................

CLINTON HILL....................................................................................................................................................................................

BOERUM HILL-COBBLE HILL................................................................................................................................................................ CROWN HEIGHTS................................................................................................................................................................................

DOWNTOWN BROOKLYN......................................................................................................................................................................

DUMBO..............................................................................................................................................................................................

FLATBUSH..........................................................................................................................................................................................

FORT GREENE.....................................................................................................................................................................................

GOWANUS.........................................................................................................................................................................................

GREENPOINT......................................................................................................................................................................................

KENSINGTON.....................................................................................................................................................................................

PARK SLOPE......................................................................................................................................................................................

PROSPECT HEIGHTS...........................................................................................................................................................................

PROSPECT-LEFFERTS GARDENS..........................................................................................................................................................

WILLIAMSBURG.................................................................................................................................................................................

THE REPORT EXPLAINED..................................................................................................................................................................................................

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M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249

Page 4: BROOKLYN - mns.com · 2 brooklyn new development market report m.n.s real estate nyc mns.com 718-222-0211 40 n 6th st brooklyn, ny 11249

MNS IS PROUD TO PRESENT THE FIRST QUARTER OF 2020 EDITION OF OUR NEW DEVELOPMENT MARKET REPORT.

INTRODUCTION

4M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249

New Development Sales data, defined as “Arms-Length” first offering transactions where the seller is considered a “Sponsor”, was compiled from the Auto-mated City Register Information System (ACRIS) for sponsor sales that traded during the First Quarter of 2020 (1/01/20 – 3/31/20). All data is summarized on a median basis.

Page 5: BROOKLYN - mns.com · 2 brooklyn new development market report m.n.s real estate nyc mns.com 718-222-0211 40 n 6th st brooklyn, ny 11249

MARKET SNAPSHOT

5M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249

↓0.1% ↓4.4% ↓5.3% ↓0.8%YEAR OVER YEARMEDIAN PPSF

QUARTER OVER QUARTERMEDIAN PPSF

YEAR OVER YEARMEDIAN SALES PRICE

QUARTER OVER QUARTERMEDIAN SALES PRICE

SPONSOR SALES ↓21.74% from last quarter

NEIGHBORHOOD WITH THE MOST NEW DEVELOPMENT SALES: WILLIAMSBURG20.5% of Brooklyn New Dev Sales

TOTAL NEW DEVELOPMENT SALES VOLUME↓16.96% to $265,899,523 from $320,196,069 in 4Q19

LARGEST QUARTERLY UP-SWING: CROWN HEIGHTSPPSF $1,078/SF from $765/SF Sales Price $1,218,150 from $622,500

LARGEST QUARTERLY DOWN-SWING: GOWANUSPPSF $1,014 from $1,095Sales Price $755,000 from $1,078,000

HIGHEST NEW DEVELOPMENT SALE PPSF78 Amity Street PHC $2,048 PPSF

HIGHEST NEW DEVELOPMENT SALE50 Bridge Park Drive 14A $7,250,000

Page 6: BROOKLYN - mns.com · 2 brooklyn new development market report m.n.s real estate nyc mns.com 718-222-0211 40 n 6th st brooklyn, ny 11249

M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249

MARKETSNAPSHOT

6

MARKET SUMMARYQuarter-over-quarter, total sales volume of Brooklyn sponsor units decreased by 16.96%, from $320,196,069 during 4Q19 to $265,899,523 this past quarter. The total number of sponsor sales decreased by 21.74%, from 299 sales during 4Q19 to 234 sales this past quarter. Quarter-over-quarter, the median price per square foot for a sold sponsor unit fell by 4.4%, from $1,132.58 during 4Q19 to $1,082.86 this past quarter, additionally the median price paid for a Brooklyn sponsor unit fell by 0.8%, from $865,513 during 4Q19 to $858,950 this past quarter. Year-over-year, median price per square foot and median sales price fell by 0.1% and 5.3%, respectively.

This past quarter, the highest price paid for a Brooklyn sponsor unit was at 50 Bridge Park Drive in Brooklyn Heights, where unit 14A was sold for $7,250,000 or $1,958.93 per square foot. The highest price paid per square foot this past quarter was at 78 Amity Street in Cobble Hill, where PHC sold for $3,100,000 or $2,047.56 per square foot.

This past quarter, the largest percentage of Brooklyn Sponsor Sales took place in Williamsburg, where 20.5% of all sponsor sales took place, or 48 out of 234 total sponsor unit sales.

MARKET UP-SWINGSThe largest quarterly up-swing occurred in Crown Heights, where the median price per square foot increased by 40.9%, from $765 to $1,078. Additionally, the median sales price in Crown Heights increased by 95.7%, from $622,500 to $1,218,150.

MARKET DOWN-SWINGSThe largest down-swing this quarter occurred in Gowanus, where the median price per square foot decreased by 7.4%, from $1,095 to $1,014. Additionally, the median sales price in Gowanus decreased by 30.0%, from $1,078,000 to $755,000.

MARKET TRENDSDuring the first quarter of 2020, seven studio sponsor units were sold, representing 2.99% of all sponsor unit sales in Brooklyn. One-bedroom sponsor units represented 49.57% of all sponsor unit sales during in Brooklyn during 1Q20, or 116 out of 234 total sales. Two-bedroom sponsor units represented 32.05% of all Brooklyn sponsor unit sales, or 75 out of 234 total sales. Three-bedroom or larger sponsor units comprised the remaining 15.38% of Brooklyn sponsor sales that occurred during 1Q20, or 36 out of 234 total sales.

71% 28% 17% 22%STUDIO DOWNTOWN BROOKLYN

ONE-BEDROOMWILLIAMSBURG

TWO-BEDROOMWILLIAMSBURG

THREE-BEDROOMPARK SLOPE

NEIGHBORHOODS WHERE THE MAJORITY OF EACH UNIT TYPE WAS SOLD IN 1Q20

Page 7: BROOKLYN - mns.com · 2 brooklyn new development market report m.n.s real estate nyc mns.com 718-222-0211 40 n 6th st brooklyn, ny 11249

7M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249

1Q20 MEDIAN PRICE PER SQUARE FOOT(PPSF) BY NEIGHBORHOOD

1Q20 MEDIAN SALES PRICEBY NEIGHBORHOOD

BAY RIDGE

BED-STUY

BROOKLYN HEIGHTS

BUSHWICK

CARROLL GARDENS

CLINTON HILL

BOERUM HILL/COBBLE HILL

CROWN HEIGHTS

DOWNTOWN BK

DUMBO

FLATBUSH

FORT GREENE

GOWANUS

GREENPOINT

KENSINGTON

PARK SLOPE

PROSPECT HEIGHTS

PLG

WILLIAMSBURG

N/A

$876

$1,824

$856

$1,675

$1,141

$1,795

$1,078

$1,312

N/A

$798

$1,269 $1,014

$1,217 $942

$1,374

$1,176

$856

$1,174

BAY RIDGE

BED-STUY

BROOKLYN HEIGHTS

BUSHWICK

CARROLL GARDENS

CLINTON HILL

BOERUM HILL/COBBLE HILL

CROWN HEIGHTS

DOWNTOWN BK

DUMBO

FLATBUSH

FORT GREENE

GOWANUS

GREENPOINT

KENSINGTON

PARK SLOPE

PROSPECT HEIGHTS

PLG

WILLIAMSBURG

N/A

$625,067

$3,836,832 $580,000

$1,781,938

$1,260,000

$2,700,000

$1,218,150

$997,885

N/A

$570,000

$1,430,000

$755,000

$987,950

$937,809

$1,940,000

$1,357,684

$612,000

$921,162

MARKET SNAPSHOT

Page 8: BROOKLYN - mns.com · 2 brooklyn new development market report m.n.s real estate nyc mns.com 718-222-0211 40 n 6th st brooklyn, ny 11249

BROOKLYNAVERAGE PRICE

8M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249

1Q20 % OF TOTAL SPONSOR SALESBOROUGH-WIDE

NUMBER OF UNITS SOLD IN 1Q20

BAY RIDGE

BED-STUY

BROOKLYN HEIGHTS

BUSHWICK

CARROLL GARDENS

CLINTON HILL

BOERUM HILL/COBBLE HILL

CROWN HEIGHTS

DOWNTOWN BK

DUMBO

FLATBUSH

FORT GREENE

GOWANUS

GREENPOINT

KENSINGTON

PARK SLOPE

PROSPECT HEIGHTS

PLG

WILLIAMSBURG

0

44

6

23

3

5

3

15

21

0

7

4

11

8

4

15

12

5

48

BAY RIDGE

BED-STUY

BROOKLYN HEIGHTS

BUSHWICK

CARROLL GARDENS

CLINTON HILL

BOERUM HILL/COBBLE HILL

CROWN HEIGHTS

DOWNTOWN BK

DUMBO

FLATBUSH

FORT GREENE

GOWANUS

GREENPOINT

KENSINGTON

PARK SLOPE

PROSPECT HEIGHTS

PLG

WILLIAMSBURG

0%

18.8%

2.6%

9.8%

1.3%

2.1%

1.3%

6.4%

9.0%

0%

3.0%

1.7%

4.7%

3.4%

1.7%

6.4%

5.1%

2.1%

20.5%

Page 9: BROOKLYN - mns.com · 2 brooklyn new development market report m.n.s real estate nyc mns.com 718-222-0211 40 n 6th st brooklyn, ny 11249

PRICE TRENDS:BROOKLYN

9

1Q20 UNIT MIX OF NEW DEVELOPMENT SALES

BROOKLYNQUARTERLY TRACKING

MEDIAN PPSF

MEDIAN SALES PRICE

MEDIAN PRICEMEDIAN PPSF

MEDIAN PPSF MEDIAN SALES PRICE

M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249

Studios

1 Bedrooms

2 Bedrooms

3 Bedrooms

$1,083 $858,9503%

50%

32%

15%

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

$1,800,000

$-

$200

$400

$600

$800

$1,000

$1,200

$1,400

1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20

Page 10: BROOKLYN - mns.com · 2 brooklyn new development market report m.n.s real estate nyc mns.com 718-222-0211 40 n 6th st brooklyn, ny 11249

M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249

PRICE TRENDS:BAY RIDGE

10

BAY RIDGEPPSF

% OF SALES WITHIN BAY RIDGE

BAY RIDGEQUARTERLY TRACKING

MEDIAN PPSF

MEDIAN SALES PRICE

MEDIAN PPSF

Studios

1 Bedrooms

2 Bedrooms

3 Bedrooms

Studios

1 Bedrooms

2 Bedrooms

3 Bedrooms

N/A N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

MEDIAN PRICEMEDIAN PPSF

$-

$100,000

$200,000

$300,000

$400,000

$500,000

$600,000

$700,000

$800,000

$900,000

$-

$100

$200

$300

$400

$500

$600

$700

$800

$900

1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20

Page 11: BROOKLYN - mns.com · 2 brooklyn new development market report m.n.s real estate nyc mns.com 718-222-0211 40 n 6th st brooklyn, ny 11249

M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249

PRICE TRENDS:BEDFORD-STUYVESANT

11

BEDFORD-STUYVESANTPPSF

% OF SALES WITHIN BEDFORD-STUYVESANT

BEDFORD-STUYVESANTQUARTERLY TRACKING

MEDIAN PPSF

MEDIAN SALES PRICE

MEDIAN PPSF

Studios

1 Bedrooms

2 Bedrooms

3 Bedrooms

Studios

1 Bedrooms

2 Bedrooms

3 Bedrooms

$876 $933

$873

$979

$641

2%

64%

25%

9%

MEDIAN PRICEMEDIAN PPSF

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$-

$200

$400

$600

$800

$1,000

$1,200

1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20

Page 12: BROOKLYN - mns.com · 2 brooklyn new development market report m.n.s real estate nyc mns.com 718-222-0211 40 n 6th st brooklyn, ny 11249

M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249

PRICE TRENDS:BROOKLYN HEIGHTS

12

BROOKLYN HEIGHTSPPSF

% OF SALES WITHIN BROOKLYN HEIGHTS

BROOKLYN HEIGHTSQUARTERLY TRACKING

MEDIAN PPSF

MEDIAN SALES PRICE

MEDIAN PPSF

Studios

1 Bedrooms

2 Bedrooms

3 Bedrooms

Studios

1 Bedrooms

2 Bedrooms

3 Bedrooms

$1,824 N/A

N/A

$1,628

$1,886

0%

0%

17%

83%

MEDIAN PRICEMEDIAN PPSF

$-

$1,000,000

$2,000,000

$3,000,000

$4,000,000

$5,000,000

$6,000,000

$7,000,000

$8,000,000

$-

$500

$1,000

$1,500

$2,000

$2,500

1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20

Page 13: BROOKLYN - mns.com · 2 brooklyn new development market report m.n.s real estate nyc mns.com 718-222-0211 40 n 6th st brooklyn, ny 11249

M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249

PRICE TRENDS:BUSHWICK

13

BUSHWICKPPSF

% OF SALES WITHIN BUSHWICK

BUSHWICKQUARTERLY TRACKING

MEDIAN PPSF

MEDIAN SALES PRICE

MEDIAN PPSF

Studios

1 Bedrooms

2 Bedrooms

3 Bedrooms

Studios

1 Bedrooms

2 Bedrooms

3 Bedrooms

$856 N/A

$871

$814

N/A

0%

74%

26%

0%

MEDIAN PRICEMEDIAN PPSF

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$-

$200

$400

$600

$800

$1,000

$1,200

1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20

Page 14: BROOKLYN - mns.com · 2 brooklyn new development market report m.n.s real estate nyc mns.com 718-222-0211 40 n 6th st brooklyn, ny 11249

M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249

PRICE TRENDS:CARROLL GARDENS

14

CARROLL GARDENSPPSF

% OF SALES WITHIN CARROLL GARDENS

CARROLL GARDENSQUARTERLY TRACKING

MEDIAN PPSF

MEDIAN SALES PRICE

MEDIAN PPSF

Studios

1 Bedrooms

2 Bedrooms

3 Bedrooms

Studios

1 Bedrooms

2 Bedrooms

3 Bedrooms

$1,675 N/A

N/A

$1,470

$1,699

0%

0%

67%

33%

MEDIAN PRICEMEDIAN PPSF

$-

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

$3,500,000

$4,000,000

$-

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

$1,800

1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20

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M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249

PRICE TRENDS:CLINTON HILL

15

CLINTON HILLPPSF

% OF SALES WITHIN CLINTON HILL

CLINTON HILLQUARTERLY TRACKING

MEDIAN PPSF

MEDIAN SALES PRICE

MEDIAN PPSF

Studios

1 Bedrooms

2 Bedrooms

3 Bedrooms

Studios

1 Bedrooms

2 Bedrooms

3 Bedrooms

$1,141 N/A

$750

$1,144

N/A

0%

20%

80%

0%

MEDIAN PRICEMEDIAN PPSF

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$-

$200

$400

$600

$800

$1,000

$1,200

$1,400

1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20

Page 16: BROOKLYN - mns.com · 2 brooklyn new development market report m.n.s real estate nyc mns.com 718-222-0211 40 n 6th st brooklyn, ny 11249

M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249

PRICE TRENDS:BOERUM HILL - COBBLE HILL

16

BOERUM HILL - COBBLE HILLPPSF

% OF SALES WITHIN BOERUM HILL - COBBLE HILL

BOERUM HILL - COBBLE HILL QUARTERLY TRACKING

MEDIAN PPSF

MEDIAN SALES PRICE

MEDIAN PPSF

Studios

1 Bedrooms

2 Bedrooms

3 Bedrooms

Studios

1 Bedrooms

2 Bedrooms

3 Bedrooms

$1,795 N/A

N/A

$1,575

$1,795

0%

0%

67%

33%

MEDIAN PRICEMEDIAN PPSF

$-

$1,000,000

$2,000,000

$3,000,000

$4,000,000

$5,000,000

$6,000,000

$-

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

$1,800

$2,000

1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20

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M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249

PRICE TRENDS:CROWN HEIGHTS

17

CROWN HEIGHTSPPSF

% OF SALES WITHIN CROWN HEIGHTS

CROWN HEIGHTSQUARTERLY TRACKING

MEDIAN PPSF

MEDIAN SALES PRICE

MEDIAN PPSF

Studios

1 Bedrooms

2 Bedrooms

3 Bedrooms

Studios

1 Bedrooms

2 Bedrooms

3 Bedrooms

$1,078 N/A

$1,078

$773

$1,258

0%

33%

40%

27%

MEDIAN PRICEMEDIAN PPSF

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$-

$200

$400

$600

$800

$1,000

$1,200

1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20

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M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249

PRICE TRENDS:DOWNTOWN BROOKLYN

18

DOWNTOWN BROOKLYNPPSF

% OF SALES WITHIN DOWNTOWN BROOKLYN

DOWNTOWN BROOKLYNQUARTERLY TRACKING

MEDIAN PPSF

MEDIAN SALES PRICE

MEDIAN PPSF

Studios

1 Bedrooms

2 Bedrooms

3 Bedrooms

Studios

1 Bedrooms

2 Bedrooms

3 Bedrooms

$1,312 $1,367

$1,461

$1,200

N/A

24%

48%

29%

0%

MEDIAN PRICEMEDIAN PPSF

$-

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

$3,500,000

$-

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

$1,800

1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20

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M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249

PRICE TRENDS:DUMBO

19

DUMBOPPSF

% OF SALES WITHIN DUMBO

DUMBOQUARTERLY TRACKING

MEDIAN PPSF

MEDIAN SALES PRICE

MEDIAN PPSF

Studios

1 Bedrooms

2 Bedrooms

3 Bedrooms

Studios

1 Bedrooms

2 Bedrooms

3 Bedrooms

N/A N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

MEDIAN PRICEMEDIAN PPSF

$-

$1,000,000

$2,000,000

$3,000,000

$4,000,000

$5,000,000

$6,000,000

$7,000,000

$-

$500

$1,000

$1,500

$2,000

$2,500

1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20

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M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249

PRICE TRENDS:FLATBUSH

20

FLATBUSHPPSF

% OF SALES WITHIN FLATBUSH

FLATBUSHQUARTERLY TRACKING

MEDIAN PPSF

MEDIAN SALES PRICE

MEDIAN PPSF

Studios

1 Bedrooms

2 Bedrooms

3 Bedrooms

Studios

1 Bedrooms

2 Bedrooms

3 Bedrooms

$798 N/A

$798

$777

N/A

0%

71%

29%

0%

MEDIAN PRICEMEDIAN PPSF

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$-

$200

$400

$600

$800

$1,000

$1,200

1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20

Page 21: BROOKLYN - mns.com · 2 brooklyn new development market report m.n.s real estate nyc mns.com 718-222-0211 40 n 6th st brooklyn, ny 11249

M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249

PRICE TRENDS:FORT GREENE

21

FORT GREENEPPSF

% OF SALES WITHIN FORT GREENE

FORT GREENEQUARTERLY TRACKING

MEDIAN PPSF

MEDIAN SALES PRICE

MEDIAN PPSF

Studios

1 Bedrooms

2 Bedrooms

3 Bedrooms

Studios

1 Bedrooms

2 Bedrooms

3 Bedrooms

$1,269 N/A

$1,193

$1,335

N/A

0%

25%

75%

0%

MEDIAN PRICEMEDIAN PPSF

$-

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$-

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20

Page 22: BROOKLYN - mns.com · 2 brooklyn new development market report m.n.s real estate nyc mns.com 718-222-0211 40 n 6th st brooklyn, ny 11249

M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249

PRICE TRENDS:GOWANUS

22

GOWANUSPPSF

% OF SALES WITHIN GOWANUS

GOWANUSQUARTERLY TRACKING

MEDIAN PPSF

MEDIAN SALES PRICE

MEDIAN PPSF

Studios

1 Bedrooms

2 Bedrooms

3 Bedrooms

Studios

1 Bedrooms

2 Bedrooms

3 Bedrooms

$1,014 $757

$1,023

$1,005

$996

9%

64%

18%

9%

MEDIAN PRICEMEDIAN PPSF

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

$1,800,000

$2,000,000

$-

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20

Page 23: BROOKLYN - mns.com · 2 brooklyn new development market report m.n.s real estate nyc mns.com 718-222-0211 40 n 6th st brooklyn, ny 11249

M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249

PRICE TRENDS:GREENPOINT

23

GREENPOINTPPSF

% OF SALES WITHIN GREENPOINT

GREENPOINTQUARTERLY TRACKING

MEDIAN PPSF

MEDIAN SALES PRICE

MEDIAN PPSF

Studios

1 Bedrooms

2 Bedrooms

3 Bedrooms

Studios

1 Bedrooms

2 Bedrooms

3 Bedrooms

$1,217 N/A

$1,148

N/A

$1,261

0%

63%

0%

38%

MEDIAN PRICEMEDIAN PPSF

$-

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

$-

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

$1,800

1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20

Page 24: BROOKLYN - mns.com · 2 brooklyn new development market report m.n.s real estate nyc mns.com 718-222-0211 40 n 6th st brooklyn, ny 11249

M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249

PRICE TRENDS:KENSINGTON

24

KENSINGTONPPSF

% OF SALES WITHIN KENSINGTON

KENSINGTONQUARTERLY TRACKING

MEDIAN PPSF

MEDIAN SALES PRICE

MEDIAN PPSF

Studios

1 Bedrooms

2 Bedrooms

3 Bedrooms

Studios

1 Bedrooms

2 Bedrooms

3 Bedrooms

$942 N/A

N/A

$942

N/A

0%

0%

100%

0%

MEDIAN PRICEMEDIAN PPSF

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$-

$100

$200

$300

$400

$500

$600

$700

$800

$900

$1,000

1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20

Page 25: BROOKLYN - mns.com · 2 brooklyn new development market report m.n.s real estate nyc mns.com 718-222-0211 40 n 6th st brooklyn, ny 11249

M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249

PRICE TRENDS:PARK SLOPE

25

PARK SLOPEPPSF

% OF SALES WITHIN PARK SLOPE

PARK SLOPEQUARTERLY TRACKING

MEDIAN PPSF

MEDIAN SALES PRICE

MEDIAN PPSF

Studios

1 Bedrooms

2 Bedrooms

3 Bedrooms

Studios

1 Bedrooms

2 Bedrooms

3 Bedrooms

$1,374 N/A

N/A

$1,422

$1,347

0%

0%

47%

53%

MEDIAN PRICEMEDIAN PPSF

$-

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$-

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20

Page 26: BROOKLYN - mns.com · 2 brooklyn new development market report m.n.s real estate nyc mns.com 718-222-0211 40 n 6th st brooklyn, ny 11249

M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249

PRICE TRENDS:PROSPECT HEIGHTS

26

PROSPECT HEIGHTSPPSF

% OF SALES WITHIN PROSPECT HEIGHTS

PROSPECT HEIGHTSQUARTERLY TRACKING

MEDIAN PPSF

MEDIAN SALES PRICE

MEDIAN PPSF

Studios

1 Bedrooms

2 Bedrooms

3 Bedrooms

Studios

1 Bedrooms

2 Bedrooms

3 Bedrooms

$1,176 N/A

$1,187

$1,277

$1,143

0%

25%

42%

33%

MEDIAN PRICEMEDIAN PPSF

$-

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$-

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20

Page 27: BROOKLYN - mns.com · 2 brooklyn new development market report m.n.s real estate nyc mns.com 718-222-0211 40 n 6th st brooklyn, ny 11249

M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249

PRICE TRENDS:PROSPECT LEFFERTS GARDENS

27

PROSPECT LEFFERTS GARDENS PPSF

% OF SALES WITHIN PROSPECT LEFFERTS GARDENS

PROSPECT LEFFERTS GARDENSQUARTERLY TRACKING

MEDIAN PPSF

MEDIAN SALES PRICE

MEDIAN PPSF

Studios

1 Bedrooms

2 Bedrooms

3 Bedrooms

Studios

1 Bedrooms

2 Bedrooms

3 Bedrooms

$856 N/A

$917

$798

$851

0%

40%

20%

40%

MEDIAN PRICEMEDIAN PPSF

$-

$100,000

$200,000

$300,000

$400,000

$500,000

$600,000

$700,000

$800,000

$900,000

$-

$200

$400

$600

$800

$1,000

$1,200

1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20

Page 28: BROOKLYN - mns.com · 2 brooklyn new development market report m.n.s real estate nyc mns.com 718-222-0211 40 n 6th st brooklyn, ny 11249

M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249

PRICE TRENDS:WILLIAMSBURG

28

WILLIAMSBURGPPSF

% OF SALES WITHIN WILLIAMSBURG

WILLIAMSBURGQUARTERLY TRACKING

MEDIAN PPSF

MEDIAN SALES PRICE

MEDIAN PPSF

Studios

1 Bedrooms

2 Bedrooms

3 Bedrooms

Studios

1 Bedrooms

2 Bedrooms

3 Bedrooms

$1,174 N/A

$1,138

$1,264

$1,303

0%

67%

27%

6%

MEDIAN PRICEMEDIAN PPSF

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

$1,800,000

$2,000,000

$-

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20

Page 29: BROOKLYN - mns.com · 2 brooklyn new development market report m.n.s real estate nyc mns.com 718-222-0211 40 n 6th st brooklyn, ny 11249

M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249

THE REPORTEXPLAINED

29

INCLUDED IN THIS RESEARCH ARE WALK-UP AND ELEVATOR NEW DEVELOPMENT CONDOMINIUM BUILDINGS, AS WELL AS NEW CONVERSION CONDOMINIUMS IF THE SALES WERE APPLICABLE SPONSOR TRANSACTIONS. EXCLUDED FROM THE REPORT ARE ALL COOPERATIVE SALES.

Unit types such as studios, one-bedrooms, and two-bedroom units are grouped by square footage ranges. Typically, studios are under 550 square feet, one-bedrooms range from 500-750 square feet, two-bedrooms from 800-1,000 square feet and three-bedrooms+ from 950 square feet to in excess of 1,500 square feet. Presented with a quarter-over quarter and year-over-year comparison, both city-wide and by neighborhood, MNS New Development ReportTM tracks the market trends throughout Brooklyn and Brooklyn. MNS offers a unique insight into the new development market by tracking stalled construction sites on a quarterly basis, a great indicator of where development in general is moving. MNS is your source to find neighborhood price per square foot analy-sis, average sale prices, unit type sales trends, overall price movement, neighborhood inventory comparisons, and absorption rates.

Can’t find what you’re looking for? Ask MNS for more information at www.mns.com

Contact Us Now: 718.222.0211 Note: All market data is collected and compiled by MNS’ marketing department. The information presented here is intended for instructive purposes only and has been gathered from sources deemed reliable, though it may be subject to errors, omissions, changes or withdrawal without notice.

If you would like to republish this report on the web, please be sure to source it as the “Brooklyn New Development Report” with a link back to its original location

HTTP://WWW.MNS.COM/BROOKLYN_NEW_DEV_REPORT

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