Condo Sales Prevail in North Brooklyn
This may not come as a surprise for anyone who has strolled through North Brooklyn lately (especially along the edges of McCarren Park, pictured above), but the New York Times shares the news that, in Williamsburg and Greenpoint, it’s all about the condos: “One of the most striking numbers to come out of Prudential Douglas…
This may not come as a surprise for anyone who has strolled through North Brooklyn lately (especially along the edges of McCarren Park, pictured above), but the New York Times shares the news that, in Williamsburg and Greenpoint, it’s all about the condos: “One of the most striking numbers to come out of Prudential Douglas Elliman’s Brooklyn market report for the first quarter was 84.3. That’s the percentage of all sales in North Brooklyn that were in condominium buildings — the vast majority of which have gone up in the last few years.” For the sake of comparison, 53.4 percent of sales in Manhattan during the same time period were condos. And in Chelsea, where there’s been a lot of development lately, the percentage of condo sales was 63.5. Of course, this isn’t very surprising given the relative lack of co-ops and brownstones and the condo building boom that’s taken place over the last decade.
Condos Dominate North Brooklyn Sales [NY Times]
doesn’t jonathan miller always report stats? either it’s a real statistic or it isn’t. not sure of the conflict of interest. it’s a reflection of past activity not a call to arms. i don’t think it means much of anything really. sort of obvious.
“…according to Jonathan Miller, the president of Miller Samuel, which prepares the Prudential report, and a partner at Condominium Recovery, which invests in real estate.”
No conflict here.
***Bid half off peak comps***
condos are easier. would suspect that the long run investment of a re-do of one of the townhouses would pay off because they could be re-done either modern or traditional, and could probably service apts and living space for owner, BUT a lot of people are not going to do that.
Lack of co-ops, maybe, but there are a ton of 1 to 3 family houses up here (vinyl, not brownstone) – this kind of skewing doesn’t make much sense.
The NYT article over the weekend that stuck in my mind was the one about the underground oil spill, which makes the spill in the Gulf look small by comparison, or so the author stated.
Here, allow me:
“Boy those buildings are ugly and soulless!!”