Manhattan Continue To Lead NYC In Most Expensive Neighborhoods With Brooklyn Making Strides

PropertyShark has published their quarterly report on the most expensive neighborhoods in New York City.  The list shows the top 50 neighborhoods according the median sales price for the first quarter of 2018.   The report shows that Manhattan continues to lead the city with the most expensive neighborhoods with Brooklyn picking up steam.  Manhattan had 9 of the top 10 neighborhoods with Tribeca leading the way . The median sale prices were calculated based on residential property sales closed between January 1, 2018 and March 31, 2018. The residential properties which comprised the report were single-family homes, condos and co-ops.

In Manhattan, Tribeca led the way with a median sales price of $3,575,000 (#1 overall).  This was despite having a 30% decrease in transactions year over year.  The biggest increases were in the West Village (#3 overall) with a median sales price of $2,312,500 and an 88% increase year over year and the East Village (#9 overall) with a median sales price of $1,535,012.    The Upper East side (#15 overall) led the way in the total amount of transactions with 495 during the quarter.

Brooklyn continues to show increased value to properties as several neighborhoods have made moves on the list.  Particularly Greenpoint and Fort Greene showed tremendous increases on the list.  Fort Greene (#14 overall) led the way with a 131% year over year increase and a median price of $1,280,000.  Fort Greene (#12 overall) showed tremendous a tremendous upside as well showing an 81% increase and a median price of $1,352,182.

Queens did not have any neighborhoods hitting the 1 million dollar mark however Belle Harbor (#27 overall) came close at $995,000.  The other leading neighborhoods as to ranking and median sales price in Queens were to the south of Belle Harbor.  Queensboro Hill (#34 overall, $883,500) and Auburndale ($35 overall, $883,000) remained steady in these categories.

Blue Harbour Property Management is a full service NYC property management company servicing the boroughs of Queens, Brooklyn, Manhattan and the Bronx.  Whether it be a 1 bedroom condo or multi-family building we are able to assist our clients maximize their investments.

http://www.blueharbourpropertymanagement.com/manhattan-continue-to-lead-nyc-in-most-expensive-neighborhood-with-brooklyn-making-strides/

North Brooklyn Home Prices Increase to $1.5 Million. Significant Uptick in Traffic

A New Report for the Fourth Quarter was released by Ideal Properties Group.  There is a need for a subscription to view the report however, we can share with you some of the important details of the report.   The report indicates that average prices are approaching historic amounts and will eventually hit $1.5 million per home. It is being reported Brooklyn brokers are seeing a significant uptick in year-end buyer traffic.  They expect increased interest with new developments in the core neighborhoods in North Brooklyn and Brownstone.

There is a  $1.49 million average for townhouses, co-ops and condos in neighborhoods such as Greenpoint, Brooklyn Heights and Park Slope.  This is a  2.6 percent increase year to year .  Townhouses led the market in those areas with an average price of $2.5 million in the fourth quarter of 2016.  That is a  4.1 percent decrease from the same period in 2015.  Condo prices  had an average sales price of $1.5 million, which was a 24 percent increase over the fourth quarter of 2015.

North Brooklyn and Brownstone continues to be a seller's market as stated in the report,

" Ending the year in testament to enduring buyer interest, the majority of all properties sold in the closing quarter of 2016 (52 percent), sold either at, or above list price. This quarter’s sales at a discount from asking price settled at the 48 percent mark, echoing the findings of previous quarters of 2016. Thirty-nine percent of all residential properties sold this quarter in Brownstone and North Brooklyn traded above the price".

North Brooklyn consists of Greenpoint and Williamsburg.  Brownstone consists of Boerum Hill, Brooklyn Heights, Carroll Gardens, Clinton Hill, Cobble Hill,  Downtown,  Dumbo, Fort Greene,  Gowanus,  Park Slope,  Prospect Heights and  Windsor Terrace.

With increase levels of activity and interest, we expect property management in North Brooklyn to continue to be strong.  If you need property management assistance in Brooklyn or anywhere in the NYC region, you can contact Blue Harbour Property Management.  With over 20 years of experience, we will maximize the revenue potential of your real estate investment.

http://www.blueharbourpropertymanagement.com/north-brooklyn-home-prices-increase-1-5-million-significant-uptick-traffic/

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