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residential real estate

Brooklyn Heights, Real Estate

Quote Of The Day: ‘Brooklyn Rents Are Officially As Crazy As Manhattan’s’

June 11, 2012

A New York Post story on Sunday titled “The Rentals Are Rising” takes a look at 10 new upscale residential buildings that have recently begun leasing. The properties: Manhattan’s 100 John St., 116 John St., 290 Mulberry St., 247 E. 28th St. and 666 West End Ave.; Long Island City’s 4615 & 4540 Center Blvd.; and in Brooklyn, Williamsburg’s 365 Union St., Vinegar Hill’s 109 Gold St., Crown Heights’ 542 St. Mark’s Ave…. and Brooklyn Height’s own 75 Clinton Street.

The piece says of the latter: “Since it came on the market this spring, Brooklyn Heights’ 75 Clinton leased 50% of its 74 units. But what caught our attention was a 3-bedroom on the ninth floor [that] rented for a whopping $10,000 per month. The rest of the rents aren’t nearly so high (studios start at $2,800; studios with home offices are $3,210; 1 BR go for $3,660; 2 BR go for $5,000; and 3 BR are $7,630). But we’ll also say: Brooklyn rents are officially as crazy as Manhattan’s.

The NYP also notes, “Vacancy rates are at historic lows and rents are at historic highs. And the number of new rental units coming to the Manhattan market in 2012 is relatively small: 2,596 apartments, according to Citi Habitats, the smallest figure in seven years.” That certainly offers one reason for the outer boroughs influx.

Read the full Post piece and see property photos here.

(Photo: NYP)

Source: Brooklyn Heights Blog

From the Web

Real Estate

Cobble Hill Has Two Of The 10 Most Expensive Blocks In Brooklyn

March 30, 2012

The Epoch Times has been scouring New York City for its “most expensive blocks,” based on median sale prices with at least three home sales over the last two years. Research covers January 2010 to December 2011. In Brooklyn, the newspaper’s March 27 survey comes up with three Park Slope blocks in the top 10, one each in Midwood, Carroll Gardens, Manhattan Beach, Homecrest and Brooklyn Heights… and two in Cobble Hill.

According to Epoch’s research, based on Property Shark stats, Cobble Hill has the No. 4 priciest block: delimited by Warren St to Baltic Street/Clinton Street to Court Street, with a median price of $2.8 million. And at No. 5 in Cobble Hill is Hicks Street to Henry Street/Baltic Street to Kane Street, with a median of $2.7 million.

Overall, the priciest block in Brooklyn is in Midwood, delimited by Avenue I and Avenue J/Ocean Parkway and 7th Avenue, with a median sale price of $4,350,000. The biggest sale there was a single-family home on 935 Ocean Parkway, on Nov. 11, 2010 for $6,130,000. Less than one year later, on Sept. 20, 2011, it exchanged hands again, for a slightly smaller amount of $6,000,000.

See the full article here.

Source: Cobble Hill Blog

From the Web