Fourth Quarter 2015therealdeal.com/.../BHS4Q15_Brooklyn_Market_Report.pdf · Market report Fourth Quarter 2015. Average townhouse price per square foot of ... Manhattan Beach Marine

Brooklyn residential Market report

Fourth Quarter

2015

Average townhouse price per square foot

of $411 sets record

Data Highlights

Average apartment price of $687,701

10% higher than 4Q14

Median price rose

11% to $553,500

Cover Property: BrownHarrisStevens.com WEB# 13911448

BrownHarrisStevens.com WEB# 14146299


All BrooklynCOOPERATIVES & CONDOMINIUMS*

Condominium

CooPeratiVes & Condominiums

CooPeratiVe

average & Median Sales price

average price per room average price per Square Foot

average Sales price Median Sales price

Brown Harris Stevens 3

$800,000

$700,000

$600,000

$500,000

$400,000

$200,000

$300,000

$140,000

$130,000

$120,000

$110,000

$100,000

$80,000

$90,000

$850

$825

$800

$775

$750

$700

$725

$112,235 $126,083 $770 $827

4th Q14 4th Q15 4th Q14 4th Q15


Brooklyn’s average apartment price rose

10% from a year ago to $687,701.

Co-op prices averaged $126,803 per room,

12% higher than 2014’s fourth quarter.

$627,942 $500,000

4th Q14

$687,701 $553,500

4th Q15

$727,052 $570,000

3rd Q15

$683,336 $557,653

2nd Q15

$638,049 $520,000

1st Q15

* Includes new development and resale apartments.4Q15 data is preliminary and subject to revision in future reports. Data from the prior four quarters has been revised to include sales recorded after our initial reports were released.


All Brooklyn1-4 FAMIly HOUSES

aVerage PriCe Per sQuare Foot

aVerage & median sales PriCe



$1,000,000

$900,000

$800,000

$700,000

$600,000

$400,000

$500,000

$420

$400

$380

$360

$340

$300

$320

$398

3rd Q15

$411

4th Q15


Both the average and median townhouse

price 12% above last year’s

comparable period.

Average townhouse price per square foot

reaches record of $411.

$849,035 $675,000

4th Q14

$955,554 $750,000

3rd Q15

$952,898 $759,000

4th Q15

$952,491 $745,000

2nd Q15

$936,210 $750,000

1st Q15

$354

4th Q14

$384

1st Q15

$392

2nd Q15


BrownstoneBoerum Hill

Brooklyn Heights

Carroll Gardens

Clinton Hill

Cobble Hill

Columbia Street Waterfront District

Ditmas Park

Downtown Brooklyn

Dumbo

Fort Greene

Gowanus

Greenwood Heights

Park Slope

Prospect Heights

Prospect Park South

Prospect-Lefferts Gardens

Red Hook

South Slope

Vinegar Hill

Windsor Terrace

CentralBedford Stuyvesant

Bushwick

Crown Heights

Stuyvesant Heights

Brownsville

East New York

northEast Williamsburg

Greenpoint

Williamsburg North Side

Williamsburg South Side

southBath Beach

Bay Ridge

Bensonhurst

Bergen Beach

Borough Park

Brighton Beach

Canarsie

Coney Island

Dyker Heights

East Flatbush

Flatbush

Flatlands

Gerritsen Beach

Gravesend

Kensington

Manhattan Beach

Marine Park

Midwood

Mill Basin

Seagate

Sheepshead Bay

Sunset Park

B

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Brooklyn Market Areas

Brownstone BrooklynCOOPERATIVES & CONDOMINIUMS

Condominium


CooPeratiVe





$1,050,000

$950,000

$850,000

$750,000

$650,000

$450,000

$550,000

$225,000

$200,000

$175,000

$150,000

$125,000

$75,000

$100,000

$2,000

$1,050

$1,000

$950

$900

$800

$850

$178,944 $194,140 $997 $1,075

12% increase in the average

apartment price over past year to $976,490.

Median price rose 11% to

$831,101.

$873,285 $750,000

4th Q14

$976,490 $831,101

4th Q15

$1,025,090 $849,000

3rd Q15

$923,278 $775,000

2nd Q15

$889,119 $765,000

1st Q15



4th Q14 4th Q15 4th Q14 4th Q15

Brownstone Brooklyn1-4 FAMIly HOUSES



$2,500,000

$2,250,000

$2,000,000

$1,750,000

$1,500,000

$1,250,000

$850

$825

$800

$775

$750

$700

$725

$806

3rd Q15

$832

4th Q15

Average townhouse price up

1% from 2014’s fourth quarter.

Average price per square foot

11% higher than a year ago.

$2,209,213 $1,900,000

4th Q14

$2,365,078 $2,100,000

3rd Q15

$2,226,186 $1,857,500

4th Q15

$2,417,178 $2,025,000

2nd Q15

$2,163,761 $1,800,000

1st Q15

$748

4th Q14

$750

1st Q15

$802

2nd Q15

$2,750,000




North BrooklynCOOPERATIVES & CONDOMINIUMS

CooPeratiVes & Condominiumsaverage & Median Sales price



$1,100,000

$1,000,000

$900,000

$800,000

$700,000

$500,000

$600,000

Condominiumaverage price per Square Foot

$1,020

$1,000

$980

$960

$940

$900

$920

$1,017 $1,016

4th Q14 4th Q15

3% Gain in the average

apartment price over past year.

Condo average price per square foot

virtually unchanged.

$976,401 $872,500

4th Q14

$1,002,170 $909,000

4th Q15

$973,112 $800,000

3rd Q15

$1,093,784 $900,000

2nd Q15

$1,002,071 $865,000

1st Q15



North Brooklyn1-4 FAMIly HOUSES



$2,250,000

$2,000,000

$1,750,000

$1,500,000

$1,250,000

$1,000,000

$900

$800

$700

$600

$500

$300

$400

$752

3rd Q15

$726

4th Q15

Median townhouse price 13%

higher than the fourth quarter of 2014.

3% decline in the average price

per square foot.

$1,703,867 $1,549,000

4th Q14

$1,880,372 $1,725,000

3rd Q15

$1,830,581 $1,750,000

4th Q15

$2,007,218 $1,778,000

2nd Q15

$2,332,511 $1,655,000

1st Q15

$746

4th Q14

$782

1st Q15

$830

2nd Q15

$2,500,000



Central BrooklynCOOPERATIVES & CONDOMINIUMS

CooPeratiVes & Condominiumsaverage & Median Sales price



$700,000

$600,000

$500,000

$400,000

$300,000

$100,000

$200,000

Condominiumaverage price per Square Foot

$750

$700

$650

$600

$550

$450

$500

$555 $718

4th Q14 4th Q15

12% Increase in the average

apartment price compared to a year ago.

Condo price per square foot rose sharply to

$718.

$530,372 $503,000

4th Q14

$595,949 $553,500

4th Q15

$593,044 $560,000

3rd Q15

$585,851 $608,250

2nd Q15

$620,378 $560,000

1st Q15

Central Brooklyn1-4 FAMIly HOUSES



$750,000

$700,000

$650,000

$600,000

$550,000

$500,000

$325

$300

$275

$250

$225

$175

$200

$294

3rd Q15

$307

4th Q15

Strong increases in both the average

and median townhouse price.

$307 Average townhouse

price per square foot.

$624,942 $530,000

4th Q14

$755,889 $660,000

3rd Q15

$767,226 $660,000

4th Q15

$703,376 $635,000

2nd Q15

$723,422 $638,000

1st Q15

$239

4th Q14

$278

1st Q15

$278

2nd Q15

$800,000




South BrooklynCOOPERATIVES & CONDOMINIUMS

Condominium


CooPeratiVe





$400,000

$350,000

$300,000

$250,000

$200,000

$100,000

$150,000

$75,000

$70,000

$65,000

$60,000

$55,000

$45,000

$50,000

$530

$500

$470

$440

$410

$350

$380

$64,271 $74,406 $473 $490

4th Q14 4th Q15 4th Q14 4th Q15

Apartment prices averaged $372,679, 6% more than a year ago.

Average co-op price of $74,406 per room a

16% improvement from 2014’s

fourth quarter.

$350,453 $300,000

4th Q14

$372,679 $320,000

4th Q15

$365,107 $320,000

3rd Q15

$363,734 $305,000

2nd Q15

$349,100 $280,000

1st Q15


South Brooklyn1-4 FAMIly HOUSES



$800,000

$750,000

$700,000

$650,000

$600,000

$550,000

$400

$380

$360

$340

$340

$300

$320

$375

3rd Q15

$393

4th Q15

13% increase in the average

townhouse price to $837,479.

Median price rose 7%.

$741,780 $680,500

4th Q14

$800,675 $700,000

3rd Q15

$837,479 $730,000

4th Q15

$777,979 $694,000

2nd Q15

$771,609 $707,000

1st Q15

$345

4th Q14

$360

1st Q15

$364

2nd Q15

$850,000



NEW YORK CITY • THE HAMPTONS • PALM BEACH • MIAMI 212.906.9200

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Contact us

CEntrAl PArk

West Side1926 BroadwayKevin Kovesci, EVPManaging Director of Sales

Downtown130 Fifth AvenueStephen Klym, EVP Managing Director of SalesDenine TownsendSales Director

Tribeca43 North MooreStephen Klym, EVP Managing Director of SalesDenine TownsendSales Director

East Side445 Park AvenueHall F. Willkie, PresidentBess Freedman, EVP Managing Director of Sales and Business DevelopmentRuth McCoy, EVPManaging Director of SalesRichard Ferrari, EVPManaging Director of Sales

Brown Harris Stevens Development Marketing445 Park AvenueStephen Kliegerman, President

Upper East Side1121 Madison AvenuePeter R. Marra, EVPManaging Director of SalesSarah Orlinsky-Maitland, EVPManaging Director of Sales

Edward Lee Cave Division790 Madison AvenueCaroline E. y. GuthriePresident

Brooklyn Heights129 Montague StreetChristopher Thomas, EVPManaging Director of Sales

Park Slope100 Seventh AvenueCamille logan, EVPManaging Director of Sales

Prepared by Gregory Heym, Chief Economist, Brown Harris Stevens.©2016 by Brown Harris Stevens. All rights reserved. this information may not be copied, used or distributed without Brown Harris Stevens’ consent. While information is believed true, no guaranty is made of accuracy.

Documents

Fourth Quarter 2015therealdeal.com/.../BHS4Q15_Brooklyn_Market_Report.pdf · Market report Fourth Quarter 2015. Average townhouse price per square foot of ... Manhattan Beach Marine