WILLIAMSBURG

DUMBO
BKLYN HEIGHTS
BEDFORD-STUYVESANT
COBBLE HILL
CARROLL GARDENS

BOERUM HILL
PARK SLOPE

OUR TAKE ON TEN YEARS OF

BROOKLYN REAL ESTATE

A TEN YEAR SALES STUDY BY

ABOUT THIS REPORT

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BROOKLYN REAL ESTATE HIGHLIGHTS

HIGHEST SALE PRICE

$12.5M

NEIGHBORHOOD
Brooklyn Heights
ADDRESS
70 Willow Street
Brooklyn, NY 11201
Townhouse
I live in Brooklyn. By choice. Once home to author Truman Capote,
the five-story, 9,000 square foot, high Greek-Revival 70 Willow Street was
built in 1839 in the heart of Brooklyn Heights. Features of this magnificent
property include a three-story mahogany staircase, 12 ceilings, 38
windows, 11 fireplaces, 11 bedrooms, 7.5 baths and a private gated
driveway. Truman had it all figured out. We would choose to live here also!

$3,358
NEIGHBORHOOD
DUMBO

ADDRESS
1 Main Street, PH
Brooklyn, NY 11201

CONVERSION WITH THE MOST ACTION

213 SOLD!

HIGHEST PRICE/S.F.

The iconic 1 Main Street, one of the

first conversions of former industrial
warehouses in DUMBO, Brooklyn is known
for unobstructed views and a ridiculous
multi-tiered clock tower apartment. 1 Main
is also home to celebrities, the chic Brooklyn
set, the founder of DUMBO (David Walentas)
and, in 2006, the highest price per square
foot paid for a condominium over the past
10 years at $3,358. That $/S.F. generated a
sale price of over $10 million and makes us
wonder: What will the Clocktower apartment
that is currently on the market finally sell for?
Only time will tell.

NEIGHBORHOOD
DUMBO
ADDRESS
70 Washington Street
Brooklyn, NY 11201

Converted to residential in 2005, the former industrial building

located at 70 Washington Street has become one of Brooklyns
most coveted condominium buildings. What makes us say this?
There have been 213 sales in the loft building since its conversion
and judging by recent listing activity, there will be another 10
units changing hands in the next few months. While there have
been other properties with more closed sales (Edge in Williamsburg
had 513 transactions) there is just something about a rehab that
gets us excited at aptsandlofts.com!

BROOKLYN HEIGHTS
Brooklyn Heights

2003

2004

2005

2006

2003-2013

2007

2008

2009

2010

2011

2012

2013*

# of Closed Sales (Co-Op+Condo)

133

250

289

280

416

308

225

338

368

423

475

Avg Sale Price

$279K

$337K

$482K

$556K

$615K

$623K

$620K

$702K

$721K

$794K

$848K

Median Sale Price

$250K

$300K

$385K

$430K

$500K

$520K

$450K

$559K

$575K

$625K

$690K

# of Co-Op Sales

125

235

266

260

350

276

206

257

260

292

300

Avg Co-Op Sale Price

$272K

$324K

$459K

$526K

$578K

$587K

$570K

$562K

$584K

$616K

$625K

# of Condo Sales

15

23

20

66

32

19

81

108

131

175

Avg Condo Sale Price

$387K

$539K

$751K

$948K

$814K

$939K

$1.159M

$1.145M

$1.052M

$1.192M

$1.250M

Avg Condo $/S.F.

$441

$528

$756

$833

$753

$862

$805

$795

$781

$873

$990

# of Townhouse Sales

16

14

20

27

19

19

13

29

19

29

15

Avg Townhouse Sale Price

$1.926M

$2.263M

$3.023M

$3.610M

$3.581M

$4.010M

$2.348M

$3.024M

$3.438M

$4.860M

$4.5M

Avg Townhouse $/S.F.

$552

$697

$866

$951

$857

$909

$612

$842

$878

$1,070

$1,000

OUR TAKE

FEATURED SALES AVERAGE & MEDIAN SALE PRICE

CO-OPS & CONDOS

Highest Townhouse
Sale Price (2012)

Over the last 10 years, the total apartment sales volume in Brooklyn Heights
(Co-Op sales plus Condo sales) rose
from a total of 133 to 423 by year end
2012, an increase of 218%.
...........................................................

900K
800K

70 Willow Street
Brooklyn, NY 11201

$12.5M

700K

Highest Co-Op
Sale Price (2009)

600K
900K
500K

700K
300K
600K
200K
500K
100K
400K
0
300K

160 Henry Street

Brooklyn, NY 11201

The average sale price of a Co-Op

in Brooklyn Heights in 2003 was
$272,000. By year end 2012, the
average Co-Op sale price increased to
$616,000, a 126% increase.
...........................................................

800K
400K

200K

2003

2004

2005

2006

2007

Average Sale Price

2008

2009

2010

2011

2012

2013

2011

2012

2013

Median Sale Price

450
100K

NUMBER OF SALES
400
0
350

2003

2004

2005

2006

2007

2008

2009

2010

$4M

CO-OPS, CONDOS & TOWNHOUSES

300

The Townhouse market exhibited a

similarly impressive gain. In 2003, the
average Townhouse sale price was
$1,926,000. Over the last 10 years, the
average sale price rose to $4,860,000,
a gain of 152%.

450
250
400
200
350
150

Highest Condo
Sale Price (2009)

300
100
250
50

360 Furman Street, #1208

Brooklyn, NY 11201

200
0
150

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

Interesting Fact: There were four

sales over $10M in Brooklyn Heights
between 2006 and 2012.

$4.2M

100
50
0

By contrast, the average Condo sale

price in 2003 was $387,000. In 10
years time, the average Condo sale
price increased to $1,192,000, an
average gain of nearly 21% per year
over the last decade.
...........................................................

2003

2004

Total Co-Op
Sales

2005

2006

2007

Total Condo
Sales

2008

2009

2010

Total Townhouse
Sales

2011

2012

2013

WILLIAMSBURG
Williamsburg

2003

2004

2005

2003-2013
2006

2007

2008

2009

2010

2011

2012

2013*

# of Closed Sales (Co-Op+Condo)

21

130

349

618

554

579

413

859

1,058

733

500

Avg Sale Price

$331K

$353K

$491K

$560K

$631K

$647K

$590K

$587K

$667K

$737K

$825K

Median Sale Price

$340K

$325K

$400K

$480K

$595K

$585K

$560K

$548K

$575K

$635K

$680K

# of Co-Op Sales

75

24

12

11

11

27

20

Avg Co-Op Sale Price

$0

$0

$446K

$330K

$345K

$363K

$287K

$536K

$353K

$335K

$375K

# of Condo Sales

21

130

340

543

530

567

405

848

1,047

706

480

Avg Condo Sale Price

$331K

$353K

$492K

$593K

$644K

$653K

$596K

$588K

$671K

$756K

$827K

Avg Condo $/S.F.

$373

$339

$432

$524

$577

$694

$614

$631

$679

$735

$785

# of Townhouse Sales

42

49

51

54

65

40

32

60

112

125

120

Avg Townhouse Sale Price

$378K

$450K

$766K

$962K

$1.04M

$1.147M

$863K

$825K

$919K

$1.262M

$1.400M

Avg Townhouse $/S.F.

$204

$263

$292

$404

$406

$377

$280

$258

$294

$424

$475

OUR TAKE

FEATURED SALES AVERAGE & MEDIAN SALE PRICE

CO-OPS & CONDOS

Highest Condo
Sale Price (2013)

800K

$3.6M

700K
600K

-AND-

900K
500K

The average Condo sale price in 2003

was $331,000 with an average price
per square foot of $373/S.F. In 10 years
time, the average sale price increased to
$756,000, a 128% increase.
...........................................................

800K
400K

Highest Condo
$/S.F. (2013)

700K
300K
600K
200K

$1,959

**

2 Northside Piers
Brooklyn, NY 11249

The market area known as the epicenter

of the Brooklyn Condo housing boom,
Williamsburg, had just 21 Condo
apartment sales in 2003 compared with
706 Condo sales by the start of 2013.
...........................................................

900K

500K
100K
400K
0
300K

*PH #5, **PH #7

200K

2003

2004

2005

2006

2007

Average Sale Price

2008

2009

2010

2011

2012

2013

2011

2012

2013

Median Sale Price

1,350
100K

NUMBER OF SALES

1,200
0

2003

2004

2005

2006

2007

2008

2009

2010

CO-OPS, CONDOS & TOWNHOUSES

1,050

900

1,350
750
1,200
600

Building with
Most Action (2003-2013)
The Edge, 34 North 7th Street
Brooklyn, NY 11211

900
300
750
150

450

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

300
150
0

513 SALES!

Townhouse properties have performed

spectacularly as well with an average
price gain of 234% in 10 years.
...........................................................
In 2003, there were 42 sales with an
average sale price of $378,000 as
compared to 125 sales with an average
price of $1,262,000 through 2012.

1,050
450

600
0

The average Condo sale price is

projected to be nearly $800/S.F. by year
end which amounts to a 114% increase
since 2003.
...........................................................

Total Co-Op
Sales

Total Condo
Sales

Total Townhouse
Sales

Interesting Fact: The $/S.F. of a

Williamsburg Condominium is now
more than double what it was in 2003.

PARK SLOPE
Park Slope

2003

2003-2013

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013*

# of Closed Sales (Co-Op+Condo)

130

150

462

436

519

581

420

571

510

508

510

Avg Sale Price

$471K

$515K

$629K

$650K

$719K

$688K

$624K

$686K

$610K

$728K

$868K

Median Sale Price

$465K

$465K

$581K

$602.5K

$674K

$628K

$595K

$608K

$658K

$668K

$763K

# of Co-Op Sales

91

68

246

248

278

258

190

247

206

253

320

Avg Co-Op Sale Price

$400K

$443K

$550.3K

$580,425

$617,360

$667K

$565K

$612K

$625K

$692K

$744K

# of Condo Sales

39

82

216

188

241

323

230

324

304

255

190

Avg Condo Sale Price

$542.4K

$587K

$708K

$720K

$821K

$655K

$683K

$684K

$635K

$764K

$993K

Avg Condo $/S.F.

$450

$559

$630

$687

$722

$725

$670

$664

$696

$724

$877

# of Townhouse Sales

92

114

170

183

165

110

83

125

140

166

120

Avg Townhouse Sale Price

$978K

$1.160M

$1.016M

$1.565M

$1.700M

$1.742M

$1.588M

$1.593M

$1.637M

$1.9M

$2.150M

Avg Townhouse $/S.F.

$365

$424

$561

$597

$599

$624

$511

$572

$585

$657

$840

OUR TAKE

FEATURED SALES AVERAGE & MEDIAN SALE PRICE

CO-OPS & CONDOS

Highest Townhouse
Sale Price (2008)

800K

17 Prospect Park West

Brooklyn, NY 11215

$8.45M

700K

Building with Highest

Co-Op Sale Price (2012)

$2.65M

107 Prospect Park West

Brooklyn, NY 11215

Building with Highest

Condo Sale Price (2009)
35 Prospect Park West
Brooklyn, NY 11215

The Park Slope region revealed impressive gains over the last 10 years in all
market segments. Total apartment sales
volume increased 291%. The number of
Co-Op sales rose 178%.
...........................................................

900K

600K
900K
500K

Condominium unit sales volume

increased 554%. Prices overall for all
apartment sales increased 55% from
an average of $471,000 to $728,000.
...........................................................

800K
400K
700K
300K
600K
200K
500K
100K
400K
0
300K
200K

2003

2004

2005

2006

2007

Average Sale Price

2008

2009

2010

2011

2012

2013

2011

2012

2013

Median Sale Price

450
100K

NUMBER OF SALES
400
0

2003

2004

2005

2006

2007

2008

2009

2010

CO-OPS, CONDOS & TOWNHOUSES

350
300

450
250
400
200
350
150
300
100
250
50
200
0
150

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

100
50
0

$5.1M

The most impressive price gains were

in the Townhouse segment. In 2003,
the average sale price of Townhouse
properties sold was $978,000 and
$365/S.F. Ten years later, the average
sale price is $1,900,000 and $657/S.F.
- a 94% increase in average price and
an 80% increase in average price per
square foot.

Total Co-Op
Sales

Total Condo
Sales

Total Townhouse
Sales

Interesting Fact: Between

2005 and 2012, Park Slope nearly
averaged 500 Condo/Co-Op sales
per year and approximately 150
Townhouse sales per year.

BoCoCa
BoCoCa

2003-2013

(Boerum Hill, Cobble Hill and Carroll Gardens)

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013*

# of Closed Sales (Co-Op+Condo)

76

104

274

204

378

321

253

340

365

282

314

Avg Sale Price

$422K

$434K

$627K

$623K

$689K

$724K

$622K

$599K

$702K

$786K

$833K

Median Sale Price

$360K

$445K

$600K

$600K

$643K

$680K

$647K

$518K

$621K

$675K

$820K

# of Co-Op Sales

34

28

64

80

98

78

55

52

77

92

95

Avg Co-Op Sale Price

$400K

$415K

$598K

$526K

$593K

$631K

$570K

$556K

$762K

$665K

$748K

# of Condo Sales

42

76

210

124

280

243

198

288

288

190

219

Avg Condo Sale Price

$482K

$499K

$635K

$682K

$707K

$754K

$636K

$599K

$880K

$845K

$881K

Avg Condo $/S.F.

$481

$520

$629

$655

$704

$754

$642

$655

$714

$745

$826

# of Townhouse Sales

74

55

116

145

151

105

69

103

110

137

104

Avg Townhouse Sale Price

$832K

$1.046M

$1.346M

$1.548M

$1.582M

$1.620M

$1.485M

$1.595M

$1.670M

$1.828M

$2.097M

Avg Townhouse $/S.F.

$347

$448

$471

$533

$532

$562

$741

$573

$565

$640

$740

OUR TAKE

FEATURED SALES AVERAGE & MEDIAN SALE PRICE

CO-OPS & CONDOS

Highest Townhouse
Sale Price (2012)

Over the last 10 years, the total

apartment sales volume in BoCoCa
(Co-Op sales plus Condo sales) rose
from a total of 76 to 282 by year end
2012, an increase of 271%.
...........................................................

900K
800K

233 Warren Street

Brooklyn, NY 11201

$6.05M

700K

Building with Highest

Co-Op Sale Price (2013)
327 Clinton Street
Brooklyn, NY 11231

600K
900K
500K

The average sale price of a Co-Op in

BoCoCa in 2003 was $400,000. By year
end 2012, the average Co-Op sale price
increased to $665,000, a 66% increase.
...........................................................

800K
400K
700K
300K
600K
200K
500K
100K
400K
0
300K
200K

2003

2004

2005

2006

2007

Average Sale Price

2008

2009

2010

2011

2012

2013

2011

2012

2013

Median Sale Price

900
100K

NUMBER OF SALES
800
0

2003

2004

2005

2006

2007

2008

2009

2010

CO-OPS, CONDOS & TOWNHOUSES

$2M

700

Building with Highest

Condo Sale Price (2012)
362 Pacific Street
Brooklyn, NY 11217

600

900
500
800
400
700
300
600
200
500
100
400
0
300

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

200
100
0

$3.3M

Total Co-Op
Sales

Total Condo
Sales

Total Townhouse
Sales

The average Condo sale price in 2003

was $482,000. In 10 years time, the
average Condo sale price increased to
$845,000, a gain of 75%.
...........................................................
The Townhouse market segment in this
region illustrated more impressive gains.
In 2003, the average Townhouse sale
price was $832,000. Over the last 10
years, the average sale price rose to
$1,828,000, a gain of 120%.
...........................................................
The projected average Townhouse
sale price by year-end 2013 is nearly
$2,100,000, a 152% increase since
2003.

DUMBO

2003-2013

Dumbo

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013*

# of Condo Sales

95

69

102

219

400

71

32

55

62

201

130

Avg Condo Sale Price

$908K

$789K

$971K

$1.008M

$913K

$1.296M

$1.098M

$1.180M

$1.284M

$1.044M

$1.145M

Avg Condo $/S.F.

$588

$550

$708

$818

$776

$917

$812

$865

$879

$839

$872

OUR TAKE

FEATURED SALES AVERAGE SALE PRICE

Highest Condo
Sale Price (2006)

$10.7M
-AND-

Highest Condo
Price/S.F. (2006)

$3,358

1 Main Street, PH
Brooklyn, NY 11201

CONDOS

Ten years ago, there were 95 Condo

sales in DUMBO with an average sale
price of $908,000 and an average price
per square foot of $588/S.F. Ten years
later, there were 112% more sales.
...........................................................

1,800K
1,600K
1,400K
1,200K
1,800K
1,000K

The projected 2013 average sale price

of $1,1450,000 is a 26% increase in
10 years, while the projected average
price per square foot of $872/S.F. is an
increase in that value measure of 48%.

1,600K
800K
1,400K
600K
1,200K
400K
1,000K
200K
800K
0
600K
400K
450
200K

2003

2004

2005

2006

2007

2008

350

2010

2011

2012

2013

Average Condo
Sale Price

NUMBER OF SALES
400
0

2009

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

CONDOS
300

450
250
400
200
350
150

Building with
Most Action (2003 2013)

213 SOLD!

70 Washington Street
Brooklyn, NY 11201

300
100
250
50
200
0
150
100
50
0

Total Condo
Sales

BEDFORD-STUYVESANT

2003-2013

Bedford-Stuyvesant

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013*

# of Condo Sales

12

108

208

182

191

164

148

141

208

124

132

Avg Condo Sale Price

$351K

$337K

$297K

$365K

$344K

$402K

$420K

$391K

$387K

$416K

$459K

Avg Condo $/S.F.

$310

$367

$295

$363

$387

$431

$335

$350

$414

$404

$432

# of Townhouse Sales

574

600

1,099

1,184

707

436

290

420

511

590

744

Avg Townhouse Sale Price

$321K

$394K

$527K

$606K

$668K

$600K

$503K

$443K

$504K

$553K

$600K

Avg Townhouse $/S.F.

$137

$168

$229

$236

$245

$225

$187

$161

$171

$194

$217

OUR TAKE

FEATURED SALES AVERAGE SALE PRICE

CONDOS & TOWNHOUSES

Highest Townhouse
Sale Price (2013)

Ten years ago, there were just 12 Condo

sales in Bed-Stuy with an average sale
price of $351,000 and an average price
per square foot of $310/S.F.
...........................................................

900K
800K

254 Gates Avenue

Brooklyn, NY 11238

700K

$2.2M

600K

Building with Highest

Condo Price (2006)

$920K

860 Bedford Avenue

Brooklyn, NY 11205

The Condo apartment market 10 years

later revealed sales volume increased
to 124 sales (+933%), an average
sale price of $416,000 (+19%) and
an average price per square foot of
$404/S.F. (+30%).
...........................................................

900K
500K
800K
400K
700K
300K
600K
200K
500K
100K
400K
0
300K
200K

2003

2004

2005

2006

2007

Avg. Sale Price

Condos

2008

2009

2010

2011

2012

2013

Avg. Sale Price

Townhouses

1,350
100K

NUMBER OF SALES

1,200
0

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

CONDOS & TOWNHOUSES

1,050
900

1,350
750
1,200
600
1,050
450
900
300
750
150

In December, aptsandlofts.com
announced we are opening our 3rd
Brooklyn office in Bed Stuy in early 2014.
We expect sales transactions in the
neighborhood to increase almost 50%
from 2013 levels next year.

600
0
450

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

300
150
0

Total Condo
Sales

Total Townhouse
Sales

In the Townhouse property segment,

the average sale price 10 years ago
was $321,000 as compared to a
projected $600,000 by year 2013,
an 87% improvement.