Green Pearl Events Multifamily Investment Summit State Of Nyc Economy
MULTIFAMILY MARKET REPORT - Investment Real Estate NYC
Transcript of 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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Multifamily Market Overview
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
Multifamily Market Overview
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
$400Average price/sq.ft.
$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
Sales volume / Transactions
$422
$
$100
$200
$300
$400
$500Average price/sq.ft.
$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
Sales volume / Transactions
1
Top 25 Multifamily Sales
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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
Top 25 Multifamily Sales
Brooklyn, 1st Quarter 2019
2
Map of Neighborhoods
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Map of Neighborhoods
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
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$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
Brooklyn, 1st Quarter 2019
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
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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
Brooklyn, 1st Quarter 2019
5
0
$450
$236
-
Y-o-Y
-23%
-6%
-
Sales volume
$5,060,000
$2,975,000
$0
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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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
$$100$200$300$400$500$600
Average Sale Price per Sq.ft.
$337
4
0
5
10
15Number of Transactions
4
6
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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-
Sales
2
0
1
Buildings
2
0
1
Units
6
0
60$282
Y-o-Y
36%
-
-
Sales volume
$2,550,000
$0
$16,086,846Large
Avg. price/unit
$425,000
-
$268,114
Y-o-Y
8%
-
-
Bay RidgeBrooklyn, 1st Quarter 2019
Multifamily size
Small
Medium
Avg. price/sqft
$560
Type of Properties Sold
-57% YoY
Number of Transactions
-11% YoY
Average Sale Price per Sq.ft.
-36% YoY
Sales volume
Located at the southwest corner of Brooklyn, Bay Ridge is a middle-class
neighborhood with plenty of housing and retail and restaurant options.
The main commercial strips are along 3rd and 5th avenues and the
neighborhood was named the 12th most livable neighborhood in NYC
by New York Magazine. Landmarks include the 69th Street Pier and Owl’s
Head Park.
$18.6M
$
$10M
$20M
$30M
$40MSales volume
$18.6M
$303
$$100$200$300$400$500$600
Average Sale Price per Sq.ft.
$303
3
0
5
10
15
20Number of Transactions
3
7
0-
Y-o-Y
4%
-89%
-
Sales volume
$68,079,677
$1,500,000
$0
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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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
Type of Properties Sold
-26% YoY
Number of Transactions
-14% YoY
Average Sale Price per Sq.ft.
-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
100Number of Transactions
45
8
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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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
Type of Properties Sold
36% YoY
Number of Transactions
104% YoY
Average Sale Price per Sq.ft.
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
$500Average Sale Price per Sq.ft.
$367
15
0
5
10
15
20
25Number of Transactions
15
9
0-
Y-o-Y
7%
-
-
Sales volume
$23,547,813
$0
$0
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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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
Type of Properties Sold
-15% YoY
Number of Transactions
7% YoY
Average Sale Price per Sq.ft.
-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
$500Average Sale Price per Sq.ft.
$401
17
0
10
20
30
40Number of Transactions
17
10
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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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
Type of Properties Sold
-50% YoY
Number of Transactions
-2% YoY
Average Sale Price per Sq.ft.
-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
$500Average Sale Price per Sq.ft.
$321
3
0
2
4
6
8
10Number of Transactions
3
11
0-
Y-o-Y
-17%
-
-
Sales volume
$5,251,848
$0
$0
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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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
Type of Properties Sold
17% YoY
Number of Transactions
-5% YoY
Average Sale Price per Sq.ft.
-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
$$50
$100$150$200$250$300
Average Sale Price per Sq.ft.
$218
7
0
5
10
15Number of Transactions
7
12
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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27
1
0
Buildings
27
1
0
Units
118
14
0-
Y-o-Y
4%
-
-
Sales volume
$38,970,700
$2,700,000
$0Large
Avg. price/unit
$330,260
$192,857
-
Y-o-Y
2%
-
-
BushwickBrooklyn, 1st Quarter 2019
Multifamily size
Small
Medium
Avg. price/sqft
$361
$386
Sales
Type of Properties Sold
12% YoY
Number of Transactions
4% YoY
Average Sale Price per Sq.ft.
16% YoY
Sales volume
Known as a haven for creative professionals, Bushwick is a trendy
neighborhood with a wealth of bodegas, gallery spaces, bars, and
eateries. Virtually every type of housing can be found here, including
recently converted loft spaces. More than 90% of homes are within a
quarter mile of a park and 97% are within a half mile of a subway station.
$41.7M
$
$50M
$100M
$150M
$200MSales volume
$41.7M
$362
$
$100
$200
$300
$400Average Sale Price per Sq.ft.
$362
28
0
20
40
60
80Number of Transactions
28
13
0-
Y-o-Y
12%
-
-
Sales volume
$4,711,950
$0
$0
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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Large
Avg. price/unit
$214,180
-
-
Y-o-Y
-5%
-
-
CanarsieBrooklyn, 1st Quarter 2019
Multifamily size
Small
Medium
Avg. price/sqft
$248
-
Sales
7
0
0
Buildings
7
0
0
Units
22
0
Type of Properties Sold
-13% YoY
Number of Transactions
12% YoY
Average Sale Price per Sq.ft.
-13% YoY
Sales volume
There are numerous subway stations and half a dozen express buses
running through Canarsie, and the main roadways Flatlands Avenue and
Rockaway Parkway provide easy access to other spots in NYC. A wide
variety of property types are available, including detached homes, small
brick homes with garages, and housing developments near the L train
stop.
$4.7M
$
$2M
$4M
$6M
$8MSales volume
$4.7M
$248
$$50
$100$150$200$250$300
Average Sale Price per Sq.ft.
$248
7
02468
1012
Number of Transactions
7
14
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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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
Type of Properties Sold
30% YoY
Number of Transactions
-29% YoY
Average Sale Price per Sq.ft.
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
Average Sale Price per Sq.ft.
$646
13
0
5
10
15Number of Transactions
13
15
0-
Y-o-Y
42%
-
-
Sales volume
$8,035,000
$0
$0
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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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
Type of Properties Sold
-20% YoY
Number of Transactions
42% YoY
Average Sale Price per Sq.ft.
-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
$800Average Sale Price per Sq.ft.
$665
4
0
5
10
15Number of Transactions
4
16
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
P: 718-715-1758 www.PropertyShark.com [email protected]
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
Type of Properties Sold
-35% YoY
Number of Transactions
28% YoY
Average Sale Price per Sq.ft.
-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
$500Average Sale Price per Sq.ft.
$390
17
0
10
20
30
40
50Number of Transactions
17
17
0-
Y-o-Y
14%
-
-
Sales volume
$7,935,000
$0
$0
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
P: 718-715-1758 www.PropertyShark.com [email protected]
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
Type of Properties Sold
-55% YoY
Number of Transactions
14% YoY
Average Sale Price per Sq.ft.
-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
Average Sale Price per Sq.ft.
$495
5
02468
1012
Number of Transactions
5
18
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
P: 718-715-1758 www.PropertyShark.com [email protected]
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
Type of Properties Sold
11% YoY
Number of Transactions
12% YoY
Average Sale Price per Sq.ft.
-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
$$50
$100$150$200$250$300
Average Sale Price per Sq.ft.
$242
31
0
10
20
30
40Number of Transactions
31
19
0-
Y-o-Y
-5%
-
-
Sales volume
$33,711,734
$0
$0
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
P: 718-715-1758 www.PropertyShark.com [email protected]
Large
Avg. price/unit
$197,145
-
-
Y-o-Y
-9%
-
-
East New YorkBrooklyn, 1st Quarter 2019
Multifamily size
Small
Medium
Avg. price/sqft
$241
-
Sales
45
0
0
Buildings
45
0
0
Units
171
0
Type of Properties Sold
7% YoY
Number of Transactions
3% YoY
Average Sale Price per Sq.ft.
-18% YoY
Sales volume
$33.7M
$
$200M
$400M
$600M
$800M
$1BSales volume
$33.7M
$241
$$50
$100$150$200$250$300
Average Sale Price per Sq.ft.
$241
45
0102030405060
Number of Transactions
45
20
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
P: 718-715-1758 www.PropertyShark.com [email protected]
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
Type of Properties Sold
-23% YoY
Number of Transactions
17% YoY
Average Sale Price per Sq.ft.
-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
$400Average Sale Price per Sq.ft.
$325
10
0
10
20
30
40Number of Transactions
10
21
0-
Y-o-Y
82%
-
-
Sales volume
$11,220,000
$0
$0
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
P: 718-715-1758 www.PropertyShark.com [email protected]
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
Type of Properties Sold
33% YoY
Number of Transactions
82% YoY
Average Sale Price per Sq.ft.
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
8Number of Transactions
4
22
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
-
-
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%
P: 718-715-1758 www.PropertyShark.com [email protected]
Type of Properties Sold
100% YoY
Number of Transactions
-22% YoY
Average Sale Price per Sq.ft.
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
$1,000Average Sale Price per Sq.ft.
$564
4
0
2
4
6
8Number of Transactions
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 (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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
P: 718-715-1758 www.PropertyShark.com [email protected]
Type of Properties Sold
27% YoY
Number of Transactions
-19% YoY
Average Sale Price per Sq.ft.
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
$$100$200$300$400$500$600
Average Sale Price per Sq.ft.
$285
14
0
5
10
15
20
25Number of Transactions
14
24
Sales
9
0
0
Buildings
9
0
0
Units
42
0
0
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
Brooklyn, 1st Quarter 2019
Multifamily size
Small
Medium
Large
Avg. price/unit
$433,631
-
-
Y-o-Y
8%
-
-
Avg. price/sqft
$538
-
-
Y-o-Y
9%
-
-
Sales volume
$18,212,500
$0
$0
Greenpoint
P: 718-715-1758 www.PropertyShark.com [email protected]
Type of Properties Sold
-53% YoY
Number of Transactions
12% YoY
Average Sale Price per Sq.ft.
-59% YoY
Sales volume
The charming townhouses found in Greenpoint are situated next to
cramped shops, and views of the Manhattan skyline can be seen from
the roofs of the loft apartments and converted warehouses. This is the
furthest north of all Brooklyn neighborhoods, and it takes longer to get
to Manhattan, but the easy public transportation options take the
pressure off.
$18.2M
$
$50M
$100M
$150M
$200M
$250MSales volume
$18.2M
$538
$$100$200$300$400$500$600
Average Sale Price per Sq.ft.
$538
9
0
5
10
15
20Number of Transactions
9
25
0
$0
0
0
Units
18
0
0
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
P: 718-715-1758 www.PropertyShark.com [email protected]
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
Type of Properties Sold
100% YoY
Number of Transactions
4% YoY
Average Sale Price per Sq.ft.
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
$800Average Sale Price per Sq.ft.
$335
4
0
2
4
6
8
10Number of Transactions
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
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
P: 718-715-1758
$0
$0
Sales
4
0
0
Buildings
4
Type of Properties Sold
-33% YoY
Number of Transactions
58% YoY
Average Sale Price per Sq.ft.
-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
Average Sale Price per Sq.ft.
$495
4
02468
1012
Number of Transactions
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
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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%
-
-
P: 718-715-1758 www.PropertyShark.com [email protected]
Type of Properties Sold
67% YoY
Number of Transactions
-35% YoY
Average Sale Price per Sq.ft.
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
$500Average Sale Price per Sq.ft.
$258
10
02468
1012
Number of Transactions
10
28
0
0
Units
51
0
0
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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
P: 718-715-1758 www.PropertyShark.com [email protected]
Type of Properties Sold
0% YoY
Number of Transactions
10% YoY
Average Sale Price per Sq.ft.
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
$400Average Sale Price per Sq.ft.
$326
14
0
5
10
15
20
25Number of Transactions
14
29
$0
Sales
9
0
0
Buildings
9
0
0
Units
40
0
0
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
P: 718-715-1758 www.PropertyShark.com [email protected]
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
Type of Properties Sold
-44% YoY
Number of Transactions
23% YoY
Average Sale Price per Sq.ft.
-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
$1,000Average Sale Price per Sq.ft.
$853
9
0
5
10
15
20
25Number of Transactions
9
30
0
0
Units
20
0
0
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
P: 718-715-1758 www.PropertyShark.com [email protected]
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
Type of Properties Sold
33% YoY
Number of Transactions
16% YoY
Average Sale Price per Sq.ft.
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
$500Average Sale Price per Sq.ft.
$416
4
02468
1012
Number of Transactions
4
31
P: 718-715-1758 www.PropertyShark.com [email protected]
Sales volume
$8,850,000
$0
$0
Sales
4
0
0
Buildings
4
0
0
Units
22
0
0
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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%
-
-
Type of Properties Sold
-20% YoY
Number of Transactions
-12% YoY
Average Sale Price per Sq.ft.
-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
$800Average Sale Price per Sq.ft.
$490
4
0
2
4
6
8
10Number of Transactions
4
32
0
Buildings
6
0
0
Units
23
0
0
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
P: 718-715-1758 www.PropertyShark.com [email protected]
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
Type of Properties Sold
50% YoY
Number of Transactions
31% YoY
Average Sale Price per Sq.ft.
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
$500Average Sale Price per Sq.ft.
$364
6
0
5
10
15Number of Transactions
6
33
$8,700,000
$0
Sales
10
2
0
Buildings
10
2
0
Units
48
29
0
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
P: 718-715-1758 www.PropertyShark.com [email protected]
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
Type of Properties Sold
20% YoY
Number of Transactions
-2% YoY
Average Sale Price per Sq.ft.
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
$500Average Sale Price per Sq.ft.
$437
12
05
1015202530
Number of Transactions
12
34
2
2
Units
53
62
254
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
P: 718-715-1758 www.PropertyShark.com [email protected]
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
Type of Properties Sold
-50% YoY
Number of Transactions
-1% YoY
Average Sale Price per Sq.ft.
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
$1,000Average Sale Price per Sq.ft.
$626
14
0
10
20
30
40Number of Transactions
14
35
P: 718-715-1758 www.PropertyShark.com [email protected]
Sales volume
$8,812,327
$0
$0
Sales
5
0
0
Buildings
5
0
0
Units
25
0
0
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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%
-
-
Type of Properties Sold
150% YoY
Number of Transactions
26% YoY
Average Sale Price per Sq.ft.
-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
$1,000Average Sale Price per Sq.ft.
$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
Number of Transactions
5
36
0
Buildings
3
0
0
Units
15
0
0
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
P: 718-715-1758 www.PropertyShark.com [email protected]
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
Type of Properties Sold
50% YoY
Number of Transactions
-34% YoY
Average Sale Price per Sq.ft.
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
$500Average Sale Price per Sq.ft.
$253
3
0
2
4
6
8Number of Transactions
3
37