Onward and upward: New report looks at ten years of Brooklyn real estate insanity

That warehouse building sold for ten million dollars (probably). via Flickr user The All-Nite Images

Say, have you guys noticed that sometimes it costs a lot of money to live in Brooklyn? We have, here and there. So thank goodness real estate brokersĀ aptsandlofts just laid it all out for us in a helpful report titled “Our Take On Ten Years of Brooklyn Real Estate.” It’s not incisive biting analysis so much as it is the literature equivalent of being hit in the face with a hammer over and over again. Except the hammer is sales prices and your face is your wallet. And probably also your face. Anyway, Brooklyn’s become very expensive in ten years!

The report, embedded below, is perfect reading for angrying up the blood and making it provide warmth to you right before you go outside, considering it’s just page after page of hearing about how prices and sales have shot up between 2003 and 2013 in Brooklyn Heights, DUMBO, Williamsburg, Park Slope, Bed-Stuy, Boerum Hill, Cobble Hill and Carroll Gardens (which they call BoCoCa and to which we say: “Nein”). The most expensive residential sale was an 11-bedroom townhouse on 70 Willow Street in Brooklyn Heights for $12.5 million. Just $1.1 million per bedroom? What a bargain!

Elsewhere, nothing was much better. Bed-Stuy saw a townhouse sell for $2.2 million and some very well-off human paid $10.5 million for a DUMBO condo. Sales prices for condos went up 19% (from $351,000 to $459,000) over ten years in Bed-Stuy, 75% ($482,000 to $881,000) in Boerum Hill, Cobble Hill and Carroll Gardens and a completely reasonable 128% ($331,000 to $827,000) in Williamsburg. Is there good news? Well, we suppose there are plenty of millionaires for Bill de Blasio to tax into olbivion to fund universal pre-K. Other than that? Nothing we can think of. – Brooklyn Ten Year Sales Study by LaurenEvans

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