multifamily market report - investment real estate nyc

#

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BROOKLYNMULTIFAMILY MARKET REPORT

1st Quarter 2019

Multifamily Market Report Overview

Multifamily Market Report Overview

Released quarterly, the Brooklyn Multifamily Market Report is organized in six distinct sections and it is

designed as a guide to the borough’s multifamily market. The report includes key market stats, the most

up-to-date quarterly sales data, and charts that give a clear picture of current market conditions.

The first section - Multifamily Market Overview - shows the borough’s quarterly sales volume and stats on

average price per square foot and per unit. Small, medium, and large multifamily buildings are also

accounted for separately and sales stats are provided for each category.

Following a list of top 25 most expensive multifamily sales, Brooklyn neighborhoods are ranked by average

price per square foot over the past quarter. Each neighborhood has its own one-page snapshot with stats

and trends for the local multifamily market.

Table of Contents

123456

Multifamily Market Overview

Top 25 Multifamily Sales

Map of Neighborhoods

Top Neighborhoods

Sales Maps

Stats by Neighborhood

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Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)

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Large multifamily

Medium multifamily

Small multifamily

-13% YoY

Transactions

1% YoY

Average price/unit

1% YoY

Average price/sq.ft.

-34% YoY

Sales volume


Brooklyn, 1st Quarter 2019

$885.5M $401 $370K 390

$416

$

$100

$200

$300

$400

$500Average price/sq.ft.

$539M

369

0

100

200

300

400

500

$

$200M

$400M

$600M

$800M

Q1-2017 Q2-2017 Q3-2017 Q4-2017 Q1-2018 Q2-2018 Q3-2018 Q4-2018 Q1-2019

Sales volume / Transactions

$278

$

$100

$200

$300


$77M

14

0

10

20

30

40

50

$

$100M

$200M

$300M

$400M

Q1-2017 Q2-2017 Q3-2017 Q4-2017 Q1-2018 Q2-2018 Q3-2018 Q4-2018 Q1-2019


$422

$

$100

$200

$300

$400


$270M

7

0

5

10

15

$

$200M

$400M

$600M

$800M

$1B

$1B

Q1-2017 Q2-2017 Q3-2017 Q4-2017 Q1-2018 Q2-2018 Q3-2018 Q4-2018 Q1-2019


1



Bedford-Stuyvesant

Sunset Park

$272

$864

$825

$461

$646

Sunset Park

Park Slope

Neighborhood

Williamsburg

Williamsburg

Gravesend

Midwood

Midwood

Bay Ridge

Midwood

Williamsburg

Carroll Gardens

Bensonhurst

East Flatbush

Williamsburg

Sunset Park

Brooklyn Heights

Park Slope

Madison

Midwood

Borough Park

Carroll Gardens

Price/Sq.ft.

$698

$686

$230

$254

$231

$282

$252

$713

$383

$250

$217

$177

$495

$861

$603

24,150

32,000

30,000

35,000

11,120

6,368

8,960

Sq.ft.

186,779

63,866

121,680

71,000

77,000

57,036

63,000

21,740

$5,400,000

4,860

4,800

8,160

5,57616-Jan-19

Sale Price

$130,442,381

$28,028,095

$18,007,663

$17,767,559

$16,086,846

$15,846,742

$6,500,000

$6,190,043

$5,500,000

$5,480,000

Sale Date

14-Feb-19

11-Jan-19

10-Jan-19

10-Jan-19

10-Jan-19

10-Jan-19

10-Jan-19

15-Feb-19

12-Feb-19

12-Feb-19

18-Mar-19

11-Jan-19

26-Mar-19

28-Mar-19

15-Feb-19

10-Jan-19

1701 W Third St

1561 E 13th St

900 Avenue H

150 74th St

2016 Avenue N

331 Keap St

108 Luquer St

1865 77th St

$43,799,464

11

12

13

14

15

16

17

18

19

$15,500,000

$9,250,000

$8,000,000

20

21

22

23

77 Second Pl

6

7

8

9

10

24

25

47 Thames St

313 52nd St

76 Pierrepont St

441 First St

Fort Greene

Park Slope$1,098

50 Mac Donough St

5124 Seventh Ave

166 Lafayette Ave

259 55th St

817 Eighth Ave

22-Feb-19

06-Mar-19

02-Jan-19

$3,960,000

$3,760,000

#

1

2

3

4

5

2233 Ocean Ave

2031 Ocean Ave

5423 15th Ave

848 President St

488 Rockaway Pkwy

Address

395 Leonard St

110-120 S Eighth St

15,040

$289

$346

$947

$1,036

4,857

4,256

3,916

15,520

$4,600,000

$4,410,000

$4,300,000

$4,225,000

$4,200,000

18,000

10-Jan-19

20-Feb-19

15-Jan-19

26-Feb-19

06-Feb-19

$3,600,000

$5,200,000

$5,200,000



2




Average price per square foot (past 3 years)

3

Top Neighborhoods

-

-

$282

$230

$245

-

-

-

-

-

$325

$321

$560

$455

$353

$253

$248

$250

$241

$218

-

-

-

-

$304

-

-

$217

-

-

$2,632,000

$18,636,846

$45,736,095

$67,074,505

$3,620,000

$4,711,950

$33,256,450

$33,711,734

$5,251,848

10

3

3

14

10

3

7

31

45

7

23

24

25

26

27

28

29

30

31

32

Flatbush

Brighton Beach

Bay Ridge

Gravesend

Midwood

Wingate

Canarsie

East Flatbush

East New York

Brownsville

$325

$321

$303

$285

$258

$253

$248

$242

$241

$218

$11,861,060

-

-

-

-

-

$361

$427

$450

$335

$326

18

19

20

21

22

$41,670,700

$69,579,677

$8,035,000

$5,260,000

$15,399,560

$386

$39

$236

-

-

28

45

4

4

14

$362

$351

$337

$335

$326

Bushwick

Bedford-Stuyvesant

Bath Beach

Greenwood Heights

Ocean Hill


$475

$476

$416

$401

$390

$447

$364

Large

-

-

-

-

$695

-

-

-

-

-

-

-

-

-

-

-

-

$372

-

-

-

$250

-

12

4

17

17

15

6

4

13

14

4

9

4

5

4

5

-

$383

$382

-

-

-

-

-

-

$665

$817

$549

$564

$538

$495

$495

$490

Windsor Terrace

Sunset Park

Prospect - Lefferts Gardens

Borough Park

Crown Heights

Bensonhurst

Sheepshead Bay

Sales volume

$31,135,000

$11,220,000

$8,035,000

$39,685,936

$219,790,588

$9,975,000

$18,212,500

$6,200,000

$7,935,000

$8,850,000

$8,812,327

$27,135,500

$7,325,000

$23,547,813

$21,306,725

$29,190,456

$7,595,600

$437

$416

$401

$390

$367

$364

12

13

14

15

16

17

3

4

5

6

7

8

9

10

11

$665

$646

$626

$564

$538

$495

$495

$490

$475

Clinton Hill

Carroll Gardens

Williamsburg

Gowanus

Greenpoint

Kensington

Dyker Heights

Prospect Heights

#

1

2

Average

price/sq.ft.

$853

$820

No. of

sales

9

4

Medium

-

-

Neighborhood

Park Slope

Fort Greene

Avg. price/sqft by multifamily size

Small

$853

$820

Top Neighborhoods


This is a ranking of Brooklyn neighborhoods based on average sale price per sq.ft.

Only neighborhoods with a minimum of 3 property sales where square footage is available were considered.

4

Sales Maps


This heat map displays the price per square foot

for properties sold in the past 5 years. The areas in

dark red are the most expensive.

Price / Sq.ft.

The map displays recent sales activity. The

areas in dark blue were the most active in terms

of closed sales.

Recent sales

Sales Maps


5

0

$450

$236

-

Y-o-Y

-23%

-6%

-

Sales volume

$5,060,000

$2,975,000

$0



Small

Medium

Large

Avg. price/unit

$421,667

$247,917

-

Y-o-Y

-1%

37%

-

Bath BeachBrooklyn, 1st Quarter 2019

Multifamily size Avg. price/sqft Sales

3

1

0

Buildings

3

1

0

Units

12

12

Type of Properties Sold

0% YoY

Number of Transactions

-10% YoY

Average Sale Price per Sq.ft.

19% YoY

Sales volume

Served by five different subway stations on the D, Bath Beach is a

community with good transportation options. Mostly made up of small

apartment homes and semi-attached houses, the streets are lined with

both mom-and-pop storefronts and chain stores. Caesar’s Bay Shopping

Center is as popular as the locally owned fruit and vegetable stands.

$8.0M

$

$10M

$20M

$30M

$40MSales volume

$8.M

$337

$$100$200$300$400$500$600


$337

4

0

5

10

15Number of Transactions

4

6



-

Sales

2

0

1

Buildings

2

0

1

Units

6

0

60$282

Y-o-Y

36%

-

-

Sales volume

$2,550,000

$0

$16,086,846Large

Avg. price/unit

$425,000

-

$268,114

Y-o-Y

8%

-

-

Bay RidgeBrooklyn, 1st Quarter 2019

Multifamily size

Small

Medium

Avg. price/sqft

$560


-57% YoY


-11% YoY


-36% YoY

Sales volume

Located at the southwest corner of Brooklyn, Bay Ridge is a middle-class

neighborhood with plenty of housing and retail and restaurant options.

The main commercial strips are along 3rd and 5th avenues and the

neighborhood was named the 12th most livable neighborhood in NYC

by New York Magazine. Landmarks include the 69th Street Pier and Owl’s

Head Park.

$18.6M

$

$10M

$20M

$30M

$40MSales volume

$18.6M

$303

$$100$200$300$400$500$600


$303

3

0

5

10

15


3

7

0-

Y-o-Y

4%

-89%

-

Sales volume

$68,079,677

$1,500,000

$0



Large

Avg. price/unit

$439,224

$34,884

-

Y-o-Y

18%

-82%

-

Bedford-StuyvesantBrooklyn, 1st Quarter 2019

Multifamily size

Small

Medium

Avg. price/sqft

$427

$39

Sales

44

1

0

Buildings

44

2

0

Units

155

43


-26% YoY


-14% YoY


-23% YoY

Sales volume

Also known as Bed-Stuy, this centrally located neighborhood is just next

door to hip Williamsburg but has plenty to set itself apart: impeccable

brownstones, unique storefronts, and a tight-knit community that

supports improvements to bring in more locally owned businesses.

Public transportation includes half a dozen subway and bus lines.

$69.6M

$

$50M

$100M

$150M

$200M

$250MSales volume

$69.6M

$351

$

$100

$200

$300

$400

$500Average Sale Price per Sq.ft.

$351

45

0

20

40

60

80


45

8



14

1

0

Buildings

14

1

0

Units

48

38

0-

Y-o-Y

-33%

-

-

Sales volume

$21,190,456

$8,000,000

$0Large

Avg. price/unit

$441,468

$210,526

-

Y-o-Y

-19%

-

-

BensonhurstBrooklyn, 1st Quarter 2019

Multifamily size

Small

Medium

Avg. price/sqft

$447

$250

Sales


36% YoY


104% YoY


13% YoY

Sales volume

Home to both Little Italy and Brooklyn’s second Chinatown, Bensonhurst

is rich in diversity. New Yorkers love this neighborhood’s friendly

atmosphere, numerous shopping options, and quick and easy access to

public transportation.

$29.2M

$

$10M

$20M

$30M

$40MSales volume

$29.2M

$367

$

$100

$200

$300

$400


$367

15

0

5

10

15

20


15

9

0-

Y-o-Y

7%

-

-

Sales volume

$23,547,813

$0

$0



Large

Avg. price/unit

$373,775

-

-

Y-o-Y

-5%

-

-

Borough ParkBrooklyn, 1st Quarter 2019

Multifamily size

Small

Medium

Avg. price/sqft

$401

-

Sales

17

0

0

Buildings

17

0

0

Units

63

0


-15% YoY


7% YoY


-7% YoY

Sales volume

Borough Park covers just 200 blocks yet it’s one of the most densely

populated areas in Brooklyn. The population is just under 200,000 and

housing is primarily low-rise multifamily homes. Rarer options include

classic apartment complexes and high-end gated communities. Public

transportation options abound in this neighborhood.

$23.5M

$

$20M

$40M

$60M

$80M

$100MSales volume

$23.6M

$401

$

$100

$200

$300

$400


$401

17

0

10

20

30


17

10



3

0

0

Buildings

3

0

0

Units

11

0

0-

Y-o-Y

-12%

-

-

Sales volume

$2,632,000

$0

$0Large

Avg. price/unit

$239,273

-

-

Y-o-Y

-17%

-

-

Brighton BeachBrooklyn, 1st Quarter 2019

Multifamily size

Small

Medium

Avg. price/sqft

$321

-

Sales


-50% YoY


-2% YoY


-70% YoY

Sales volume

Located in Southern Brooklyn, Brighton Beach is an Oceanside

neighborhood next to Coney Island and Manhattan Beach. It’s served by

the B and Q trains along with several local buses. There’s plenty to do in

the neighborhood and both Coney Island and Manhattan Beach are

close by. Housing options include both single-family and multi-family

homes.

$2.6M

$

$20M

$40M

$60M

$80MSales volume

$2.6M

$321

$

$100

$200

$300

$400


$321

3

0

2

4

6

8


3

11

0-

Y-o-Y

-17%

-

-

Sales volume

$5,251,848

$0

$0



Large

Avg. price/unit

$194,513

-

-

Y-o-Y

5%

-

-

BrownsvilleBrooklyn, 1st Quarter 2019

Multifamily size

Small

Medium

Avg. price/sqft

$218

-

Sales

7

0

0

Buildings

7

0

0

Units

27

0


17% YoY


-5% YoY


-11% YoY

Sales volume

In 2010, Brownsville had a population of just over 58,000, but that

number grows every year. The neighborhood is dominated by public

housing developments but there are also semi-detached multi-unit row

houses. The Betsy Head Play Center, built in the ‘30s, has been

designated a NYC landmark and is home to a large swimming pool and

bathhouses.

$5.3M

$

$10M

$20M

$30M

$40MSales volume

$5.3M

$218

$$50

$100$150$200$250$300


$218

7

0

5

10


7

12



27

1

0

Buildings

27

1

0

Units

118

14

0-

Y-o-Y

4%

-

-

Sales volume

$38,970,700

$2,700,000

$0Large

Avg. price/unit

$330,260

$192,857

-

Y-o-Y

2%

-

-

BushwickBrooklyn, 1st Quarter 2019

Multifamily size

Small

Medium

Avg. price/sqft

$361

$386

Sales


12% YoY


4% YoY


16% YoY

Sales volume

Known as a haven for creative professionals, Bushwick is a trendy

neighborhood with a wealth of bodegas, gallery spaces, bars, and

eateries. Virtually every type of housing can be found here, including

recently converted loft spaces. More than 90% of homes are within a

quarter mile of a park and 97% are within a half mile of a subway station.

$41.7M

$

$50M

$100M

$150M

$200MSales volume

$41.7M

$362

$

$100

$200

$300


$362

28

0

20

40

60


28

13

0-

Y-o-Y

12%

-

-

Sales volume

$4,711,950

$0

$0



Large

Avg. price/unit

$214,180

-

-

Y-o-Y

-5%

-

-

CanarsieBrooklyn, 1st Quarter 2019

Multifamily size

Small

Medium

Avg. price/sqft

$248

-

Sales

7

0

0

Buildings

7

0

0

Units

22

0


-13% YoY


12% YoY


-13% YoY

Sales volume

There are numerous subway stations and half a dozen express buses

running through Canarsie, and the main roadways Flatlands Avenue and

Rockaway Parkway provide easy access to other spots in NYC. A wide

variety of property types are available, including detached homes, small

brick homes with garages, and housing developments near the L train

stop.

$4.7M

$

$2M

$4M

$6M

$8MSales volume

$4.7M

$248

$$50

$100$150$200$250$300


$248

7

02468

1012


7

14



12

1

0

Buildings

12

1

0

Units

39

22

0-

Y-o-Y

-11%

-

-

Sales volume

$30,435,936

$9,250,000

$0Large

Avg. price/unit

$780,409

$420,455

-

Y-o-Y

-11%

-

-

Carroll GardensBrooklyn, 1st Quarter 2019

Multifamily size

Small

Medium

Avg. price/sqft

$817

$383

Sales


30% YoY


-29% YoY


29% YoY

Sales volume

Carroll Gardens seems to have it all: tranquil but with plenty of nightlife.

Hip bars and boutiques line the streets yet it’s still hung on to its old-

NYC charm. Tree-lined sidewalks pave the way to local retailers, tasty

Italian restaurants and coffee shops galore. Transportation options

include F and G subway trains as well as several express buses.

$39.7M

$

$10M

$20M

$30M

$40M

$50MSales volume

$39.7M

$646

$$200$400$600$800

$1,000$1,200


$646

13

0

5

10


13

15

0-

Y-o-Y

42%

-

-

Sales volume

$8,035,000

$0

$0



Large

Avg. price/unit

$472,647

-

-

Y-o-Y

5%

-

-

Clinton HillBrooklyn, 1st Quarter 2019

Multifamily size

Small

Medium

Avg. price/sqft

$665

-

Sales

4

0

0

Buildings

4

0

0

Units

17

0


-20% YoY


42% YoY


-15% YoY

Sales volume

Variety is the name of the game in residential Clinton Hill, which features

19th-century homes, converted lofts, Victorian row houses, and one and

two-bedroom homes. Many architectural styles are represented, several

bus lines run through the neighborhood, and both the C and G subways

have stations here. Walking and biking are a dream on the wide tree-

lined streets.

$8.0M

$

$20M

$40M

$60M

$80M

$100MSales volume

$8.M

$665

$

$200

$400

$600


$665

4

0

5

10


4

16



17

0

0

Buildings

17

0

0

Units

61

0

0-

Y-o-Y

14%

-

-

Sales volume

$21,306,725

$0

$0Large

Avg. price/unit

$349,291

-

-

Y-o-Y

17%

-

-

Crown HeightsBrooklyn, 1st Quarter 2019

Multifamily size

Small

Medium

Avg. price/sqft

$390

-

Sales


-35% YoY


28% YoY


-83% YoY

Sales volume

Home to hugely popular street carnivals and several beloved museums,

Crown Heights has vastly different homes from street to street. The

neighborhood has four designated historic districts and easy access to

some of the trendier, more expensive Brooklyn neighborhoods.

$21.3M

$

$50M

$100M

$150MSales volume

$21.3M

$390

$

$100

$200

$300

$400


$390

17

0

10

20

30

40


17

17

0-

Y-o-Y

14%

-

-

Sales volume

$7,935,000

$0

$0



Large

Avg. price/unit

$396,750

-

-

Y-o-Y

-18%

-

-

Dyker HeightsBrooklyn, 1st Quarter 2019

Multifamily size

Small

Medium

Avg. price/sqft

$495

-

Sales

5

0

0

Buildings

5

0

0

Units

20

0


-55% YoY


14% YoY


-50% YoY

Sales volume

Originally a luxury housing development way back in 1895, today Dyker

Heights is most well-known for the over-the-top Christmas lights

displays of its residents. Though it’s not served by the subway it is close

to several neighborhoods that are.

$7.9M

$

$5M

$10M

$15M

$20MSales volume

$7.9M

$495

$$100$200$300$400$500$600


$495

5

02468

1012


5

18



30

1

0

Buildings

31

1

0

Units

125

39

0-

Y-o-Y

-1%

21%

-

Sales volume

$26,756,450

$6,500,000

$0Large

Avg. price/unit

$214,052

$166,667

-

Y-o-Y

-4%

-8%

-

East FlatbushBrooklyn, 1st Quarter 2019

Multifamily size

Small

Medium

Avg. price/sqft

$250

$217

Sales


11% YoY


12% YoY


-34% YoY

Sales volume

A top choice for renters and buyers who don’t want to pay top dollar for

Brooklyn real estate, this is a primarily residential area with little nightlife.

Three hospitals call East Flatbush home and notable landmarks include

Grand Army Plaza Greenmarket and the oldest house in New York City.

$33.3M

$

$20M

$40M

$60M

$80M

$100MSales volume

$33.3M

$242

$$50

$100$150$200$250$300


$242

31

0

10

20

30


31

19

0-

Y-o-Y

-5%

-

-

Sales volume

$33,711,734

$0

$0



Large

Avg. price/unit

$197,145

-

-

Y-o-Y

-9%

-

-

East New YorkBrooklyn, 1st Quarter 2019

Multifamily size

Small

Medium

Avg. price/sqft

$241

-

Sales

45

0

0

Buildings

45

0

0

Units

171

0


7% YoY


3% YoY


-18% YoY

Sales volume

$33.7M

$

$200M

$400M

$600M

$800M

$1BSales volume

$33.7M

$241

$$50

$100$150$200$250$300


$241

45

0102030405060


45

20



10

0

0

Buildings

10

0

0

Units

41

0

0-

Y-o-Y

-9%

-

-

Sales volume

$11,861,060

$0

$0Large

Avg. price/unit

$289,294

-

-

Y-o-Y

3%

-

-

FlatbushBrooklyn, 1st Quarter 2019

Multifamily size

Small

Medium

Avg. price/sqft

$325

-

Sales


-23% YoY


17% YoY


-74% YoY

Sales volume

Situated on the southern border of Prospect Park, Flatbush has an

eclectic and welcome mix of cuisines, cultures, and architectural styles.

Residents live in Victorian homes next to brick townhouses, and there are

plenty of classic awnings proclaiming the local businesses. Three

different subways service this neighborhood, which makes commuting to

Manhattan a breeze.

$11.9M

$

$20M

$40M

$60M

$80M

$100MSales volume

$11.9M

$325

$

$100

$200

$300


$325

10

0

10

20

30


10

21

0-

Y-o-Y

82%

-

-

Sales volume

$11,220,000

$0

$0



Large

Avg. price/unit

$863,077

-

-

Y-o-Y

143%

-

-

Fort GreeneBrooklyn, 1st Quarter 2019

Multifamily size

Small

Medium

Avg. price/sqft

$820

-

Sales

4

0

0

Buildings

4

0

0

Units

13

0


33% YoY


82% YoY


125% YoY

Sales volume

Home to row houses in a variety of styles including Second Empire, Neo-

Grec, and Renaissance, Fort Greene is also home to many new

developments and redevelopments. Residents enjoy the local coffee

shops, wine bars, bookstores, organic markets, and the many outdoor

amenities at Fort Greene Park. Other attractions include the Paul

Robeson Theater.

$11.2M

$ $5M

$10M $15M $20M $25M $30M

Sales volume

$11.2M

$820

$

$200

$400

$600

$800

$1,000Average Sale Price per Sq.ft.

$820

4

0

2

4

6


4

22


-

-

Sales volume

$9,975,000

$0

$0

Sales

4

0

0

Buildings

4

0

0

Units

21

0

0

GowanusBrooklyn, 1st Quarter 2019

Multifamily size

Small

Medium

Large

Avg. price/unit

$475,000

-

-

Y-o-Y

-22%

-

-

Avg. price/sqft

$564

-

-

Y-o-Y

-22%



100% YoY


-22% YoY


173% YoY

Sales volume

Gowanus has a hip, industrial feel. Popular with artists, music venues, and

photographers due to its central location and easy public transportation

to Manhattan, it’s easy to see why it attracts buyers. Homes here include

frame houses and brick townhouses. Important attractions include the

Carroll Street Bridge and the site of the Gowanus Memorial Artyard.

$10.0M

$

$20M

$40M

$60M

$80M

$100MSales volume

$10.M

$564

$

$200

$400

$600

$800


$564

4

0

2

4

6


4

23

-

$17,708,000

$0

$28,028,095

13

0

1

GravesendBrooklyn, 1st Quarter 2019

Multifamily size Sales volume Sales Buildings

1

Units

44

0

107


Small

Medium

Large

Avg. price/unit

$402,455

-

$261,945

Y-o-Y

-10%

-

-

Avg. price/sqft

$455

-

$230

Y-o-Y

3%

-

13

0



27% YoY


-19% YoY


52% YoY

Sales volume

Known for large homes, elaborate hedges, and big porches, Gravesend is

a neighborhood with tree-lined streets and plenty of benches. Savvy

home buyers will also find plenty of single and multi-family homes,

seven-story co-ops, and condo buildings. This neighborhood is also

known for its historic Old Gravesend Cemetery, which was built in the

1600s.

$45.7M

$

$10M

$20M

$30M

$40M

$50MSales volume

$45.7M

$285

$$100$200$300$400$500$600


$285

14

0

5

10

15

20


14

24

Sales

9

0

0

Buildings

9

0

0

Units

42

0

0



Multifamily size

Small

Medium

Large

Avg. price/unit

$433,631

-

-

Y-o-Y

8%

-

-

Avg. price/sqft

$538

-

-

Y-o-Y

9%

-

-

Sales volume

$18,212,500

$0

$0

Greenpoint



-53% YoY


12% YoY


-59% YoY

Sales volume

The charming townhouses found in Greenpoint are situated next to

cramped shops, and views of the Manhattan skyline can be seen from

the roofs of the loft apartments and converted warehouses. This is the

furthest north of all Brooklyn neighborhoods, and it takes longer to get

to Manhattan, but the easy public transportation options take the

pressure off.

$18.2M

$

$50M

$100M

$150M

$200M

$250MSales volume

$18.2M

$538

$$100$200$300$400$500$600


$538

9

0

5

10

15


9

25

0

$0

0

0

Units

18

0

0



Medium

Large

Avg. price/unit

$292,222

-

-

Y-o-Y

5%

-

-

Avg. price/sqft

$335

-

-

Y-o-Y

4%

-

-

$0

0

Buildings

4

Greenwood HeightsBrooklyn, 1st Quarter 2019

Multifamily size

Small

Sales volume

$5,260,000

Sales

4


100% YoY


4% YoY


72% YoY

Sales volume

Like much of Brooklyn, Greenwood Heights has an eclectic vibe, thanks

in part to the mix of architectural styles: wood frame, vinyl, and brick

bound. It’s served by numerous subway lines, including the D, N, and R

trains, and offers commuters their choice of both local and express

buses. This is a neighborhood in transit, with many new businesses.

$5.3M

$ $5M

$10M $15M $20M $25M $30M

Sales volume

$5.3M

$335

$

$200

$400

$600


$335

4

0

2

4

6

8


4

26

www.PropertyShark.com [email protected]

Y-o-Y

16%

-

-

Avg. price/sqft

$495

-

-

Y-o-Y

14%

-

-

Sales volume

$6,200,000

KensingtonBrooklyn, 1st Quarter 2019

Multifamily size

Small

Medium

Large

Avg. price/unit

$442,857

-

-

0

0

Units

14

0

0


P: 718-715-1758

$0

$0

Sales

4

0

0

Buildings

4


-33% YoY


58% YoY


-85% YoY

Sales volume

A charming, centrally located Brooklyn neighborhood full of Victorian

mansions and quiet side streets, along with commercial roads with

bodegas, restaurants, and hip coffee shops, transportation is easy via the

F train. Popular with first-time buyers looking for a great value for their

money, Kensington is quickly adding new cafes and bars.

$6.2M

$

$10M

$20M

$30M

$40M

$50MSales volume

$6.2M

$495

$$100$200$300$400$500$600


$495

4

02468

1012


4

27

Sales volume

$5,027,541

$10,425,000

$51,621,964

Sales

4

3

3

Buildings

4

3

3

Units

15

43

191


MidwoodBrooklyn, 1st Quarter 2019

Multifamily size

Small

Medium

Large

Avg. price/unit

$335,169

$242,442

$270,272

Y-o-Y

-3%

-

-

Avg. price/sqft

$353

$304

$245

Y-o-Y

-12%

-

-



67% YoY


-35% YoY


746% YoY

Sales volume

Located in the middle of Brooklyn, Midwood is a true melting pot with a

small town feel. Though new construction isn’t prevalent in this

established neighborhood, it’s common to see homes expanded and

built into nothing short of palaces. This tree-lined, quiet, suburban-

feeling area is chock full of delicious bakeries and discounted shopping.

$67.1M

$

$20M

$40M

$60M

$80MSales volume

$67.1M

$258

$

$100

$200

$300

$400


$258

10

02468

1012


10

28

0

0

Units

51

0

0


Ocean HillBrooklyn, 1st Quarter 2019

Multifamily size

Small

Medium

Large

Avg. price/unit

$301,952

-

-

Y-o-Y

8%

-

-

Avg. price/sqft

$326

-

-

Y-o-Y

10%

-

-

Sales volume

$15,399,560

$0

$0

Sales

14

0

0

Buildings

14



0% YoY


10% YoY


10% YoY

Sales volume

Ocean Hill is an East Brooklyn neighborhood that’s a subsection of

Bedford-Stuyvesant. Buyers are attracted by the brownstones – many of

which have been recently renovated – and the relatively affordable home

prices. Good subway access and an ever-growing commercial strip on

Rockaway Avenue are also increasing its popularity with home buyers.

$15.4M

$

$5M

$10M

$15M

$20M

$25MSales volume

$15.4M

$326

$

$100

$200

$300


$326

14

0

5

10

15

20


14

29

$0

Sales

9

0

0

Buildings

9

0

0

Units

40

0

0



Park SlopeBrooklyn, 1st Quarter 2019

Multifamily size

Small

Medium

Large

Avg. price/unit

$778,375

-

-

Y-o-Y

12%

-

-

Avg. price/sqft

$853

-

-

Y-o-Y

23%

-

-

Sales volume

$31,135,000

$0


-44% YoY


23% YoY


-42% YoY

Sales volume

Both the largest and most highly sought after neighborhoods in NYC,

Park Slope was once the richest community in the U.S. Today it has

something for everyone with commercial streets next to a restaurant row

next to renovated brownstones and condos. From top-rated eateries to

low crime rates it’s easy to see why it’s a top rated neighborhood.

$31.1M

$

$20M

$40M

$60M

$80MSales volume

$31.1M

$853

$

$200

$400

$600

$800


$853

9

0

5

10

15

20


9

30

0

0

Units

20

0

0



Prospect - Lefferts GardensBrooklyn, 1st Quarter 2019

Multifamily size

Small

Medium

Large

Avg. price/unit

$366,250

-

-

Y-o-Y

77%

-

-

Avg. price/sqft

$416

-

-

Y-o-Y

16%

-

-

Sales volume

$7,325,000

$0

$0

Sales

4

0

0

Buildings

4


33% YoY


16% YoY


173% YoY

Sales volume

Known as both Prospect Park and Lefferts Garden, this Brooklyn

neighborhood is easily accessible by train, bus, and car, and is known as

a down-to-earth, laid back area. Homes include brownstones,

townhomes, and modern condos and the streets tend to quiet down

fairly early in the evening. Popular landmarks include the Lefferts Historic

House.

$7.3M

$

$20M

$40M

$60M

$80MSales volume

$7.3M

$416

$

$100

$200

$300

$400


$416

4

02468

1012


4

31


Sales volume

$8,850,000

$0

$0

Sales

4

0

0

Buildings

4

0

0

Units

22

0

0


Prospect HeightsBrooklyn, 1st Quarter 2019

Multifamily size

Small

Medium

Large

Avg. price/unit

$402,273

-

-

Y-o-Y

-37%

-

-

Avg. price/sqft

$490

-

-

Y-o-Y

-36%

-

-


-20% YoY


-12% YoY


-96% YoY

Sales volume

Prospect Heights may be small but it’s big on cultural diversity and

quaint tree-lined streets. This neighborhood has one of the strongest

residential corridors in the city. Buyers can find everything from 1890s

brownstones to newly built modern apartment buildings to converted

lofts.

$8.9M

$ $50M

$100M $150M $200M $250M $300M

Sales volume

$8.9M

$490

$

$200

$400

$600


$490

4

0

2

4

6

8


4

32

0

Buildings

6

0

0

Units

23

0

0



Sheepshead BayBrooklyn, 1st Quarter 2019

Multifamily size

Small

Medium

Large

Avg. price/unit

$330,243

-

-

Y-o-Y

29%

-

-

Avg. price/sqft

$364

-

-

Y-o-Y

31%

-

-

Sales volume

$7,595,600

$0

$0

Sales

6

0


50% YoY


31% YoY


85% YoY

Sales volume

Sheepshead Bay’s long past is full of twists and turns but in recent years,

new developments have been cropping up including a shopping center

with restaurants at Seaport Plaza, an assisted living facility, and upscale

Russian and French restaurants. Two subway lines serve the area and

new residential projects include row houses and condos.

$7.6M

$

$20M

$40M

$60M

$80MSales volume

$7.6M

$364

$

$100

$200

$300

$400


$364

6

0

5

10


6

33

$8,700,000

$0

Sales

10

2

0

Buildings

10

2

0

Units

48

29

0



Medium

Large

Avg. price/unit

$384,073

$300,000

-

Y-o-Y

1%

-19%

-

Avg. price/sqft

$476

$372

-

Y-o-Y

8%

-19%

-

Sunset ParkBrooklyn, 1st Quarter 2019

Multifamily size

Small

Sales volume

$18,435,500


20% YoY


-2% YoY


16% YoY

Sales volume

Considered by the New York Times to be one of next hot neighborhoods

in NYC, Sunset Park has no fancy condos, no Starbucks, and no trendy

restaurants but new developments like the 16-building Industry City,

with six million square feet of office and retail space, are in the process of

changing the landscape where prewar walkups are next to co-ops.

$27.1M

$

$50M

$100M

$150MSales volume

$27.1M

$437

$

$100

$200

$300

$400


$437

12

05

1015202530


12

34

2

2

Units

53

62

254



WilliamsburgBrooklyn, 1st Quarter 2019

Multifamily size

Small

Medium

Large

Avg. price/unit

$450,164

$349,839

$685,992

Y-o-Y

-7%

-52%

-14%

Avg. price/sqft

$549

$382

$695

Y-o-Y

-12%

-59%

21%

Sales volume

$23,858,700

$21,690,043

$174,241,845

Sales

10

2

2

Buildings

10


-50% YoY


-1% YoY


80% YoY

Sales volume

A waterfront neighborhood with views of Manhattan and the East River,

Williamsburg is home to new residential buildings and unique converted

lofts. Known as an artist’s neighborhood, residents have access to local

restaurants, cafes, bars, clothing boutiques, tennis courts, greenmarkets,

kickball fields, and a wide range of historical landmarks.

$219.8M

$ $50M

$100M $150M $200M $250M $300M

Sales volume

$219.8M

$626

$

$200

$400

$600

$800


$626

14

0

10

20

30


14

35


Sales volume

$8,812,327

$0

$0

Sales

5

0

0

Buildings

5

0

0

Units

25

0

0


Windsor TerraceBrooklyn, 1st Quarter 2019

Multifamily size

Small

Medium

Large

Avg. price/unit

$352,493

-

-

Y-o-Y

-38%

-

-

Avg. price/sqft

$475

-

-

Y-o-Y

-15%

-

-


150% YoY


26% YoY


-75% YoY

Sales volume

Home buyers who want the excitement of NYC paired with a laid-back

neighborhood vibe would be wise to take a close look at Windsor

Terrace. Close to both Prospect Park and Park Slope, there are dozens of

eateries throughout these neighborhoods which are tasty and

unpretentious. Housing prices are affordable but on the rise.

$8.8M

$

$20M

$40M

$60M

$80M

$100MSales volume

$8.8M

$475

$

$200

$400

$600

$800


$475

5

0

1

2

3

4

5

6

Q1-2016 Q2-2016Q3-2016 Q1-2017 Q2-2017Q3-2017Q4-2017 Q1-2018 Q2-2018Q4-2018 Q1-2019


5

36

0

Buildings

3

0

0

Units

15

0

0



WingateBrooklyn, 1st Quarter 2019

Multifamily size

Small

Medium

Large

Avg. price/unit

$241,333

-

-

Y-o-Y

4%

-

-

Avg. price/sqft

$253

-

-

Y-o-Y

-34%

-

-

Sales volume

$3,620,000

$0

$0

Sales

3

0


50% YoY


-34% YoY


94% YoY

Sales volume

Sometimes considered to be part of East Flatbush or Crown Heights,

Wingate is a mostly residential neighborhood with a variety of housing

options available. It’s close to Brooklyn and reasonably close to

Manhattan, which makes it a top choice for commuters. Transportation is

quick and easy via subway lines and both local and express buses.

$3.6M

$ $5M

$10M $15M $20M $25M $30M

Sales volume

$3.6M

$253

$

$100

$200

$300

$400


$253

3

0

2

4

6


3

37

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