2
BROOKLYN NEW DEVELOPMENT MARKET REPORT
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249
CONTENTS
3
INTRODUCTION ................................................................................................................................................................................................................
MARKET SNAPSHOT.......................................................................................................................................................................................................... NEIGHBORHOOD PRICE TRENDS .......................................................................................................................................................................................
BAY RIDGE...........................................................................................................................................................................................
BEDFORD-STUYVESANT........................................................................................................................................................................
BROOKLYN HEIGHTS.............................................................................................................................................................................
BUSHWICK.........................................................................................................................................................................................
CARROLL GARDENS...............................................................................................................................................................................
CLINTON HILL....................................................................................................................................................................................
BOERUM HILL-COBBLE HILL................................................................................................................................................................ CROWN HEIGHTS................................................................................................................................................................................
DOWNTOWN BROOKLYN......................................................................................................................................................................
DUMBO..............................................................................................................................................................................................
FLATBUSH..........................................................................................................................................................................................
FORT GREENE.....................................................................................................................................................................................
GOWANUS.........................................................................................................................................................................................
GREENPOINT......................................................................................................................................................................................
KENSINGTON.....................................................................................................................................................................................
PARK SLOPE......................................................................................................................................................................................
PROSPECT HEIGHTS...........................................................................................................................................................................
PROSPECT-LEFFERTS GARDENS..........................................................................................................................................................
WILLIAMSBURG.................................................................................................................................................................................
THE REPORT EXPLAINED..................................................................................................................................................................................................
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M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249
MNS IS PROUD TO PRESENT THE FIRST QUARTER OF 2020 EDITION OF OUR NEW DEVELOPMENT MARKET REPORT.
INTRODUCTION
4M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249
New Development Sales data, defined as “Arms-Length” first offering transactions where the seller is considered a “Sponsor”, was compiled from the Auto-mated City Register Information System (ACRIS) for sponsor sales that traded during the First Quarter of 2020 (1/01/20 – 3/31/20). All data is summarized on a median basis.
MARKET SNAPSHOT
5M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249
↓0.1% ↓4.4% ↓5.3% ↓0.8%YEAR OVER YEARMEDIAN PPSF
QUARTER OVER QUARTERMEDIAN PPSF
YEAR OVER YEARMEDIAN SALES PRICE
QUARTER OVER QUARTERMEDIAN SALES PRICE
SPONSOR SALES ↓21.74% from last quarter
NEIGHBORHOOD WITH THE MOST NEW DEVELOPMENT SALES: WILLIAMSBURG20.5% of Brooklyn New Dev Sales
TOTAL NEW DEVELOPMENT SALES VOLUME↓16.96% to $265,899,523 from $320,196,069 in 4Q19
LARGEST QUARTERLY UP-SWING: CROWN HEIGHTSPPSF $1,078/SF from $765/SF Sales Price $1,218,150 from $622,500
LARGEST QUARTERLY DOWN-SWING: GOWANUSPPSF $1,014 from $1,095Sales Price $755,000 from $1,078,000
HIGHEST NEW DEVELOPMENT SALE PPSF78 Amity Street PHC $2,048 PPSF
HIGHEST NEW DEVELOPMENT SALE50 Bridge Park Drive 14A $7,250,000
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249
MARKETSNAPSHOT
6
MARKET SUMMARYQuarter-over-quarter, total sales volume of Brooklyn sponsor units decreased by 16.96%, from $320,196,069 during 4Q19 to $265,899,523 this past quarter. The total number of sponsor sales decreased by 21.74%, from 299 sales during 4Q19 to 234 sales this past quarter. Quarter-over-quarter, the median price per square foot for a sold sponsor unit fell by 4.4%, from $1,132.58 during 4Q19 to $1,082.86 this past quarter, additionally the median price paid for a Brooklyn sponsor unit fell by 0.8%, from $865,513 during 4Q19 to $858,950 this past quarter. Year-over-year, median price per square foot and median sales price fell by 0.1% and 5.3%, respectively.
This past quarter, the highest price paid for a Brooklyn sponsor unit was at 50 Bridge Park Drive in Brooklyn Heights, where unit 14A was sold for $7,250,000 or $1,958.93 per square foot. The highest price paid per square foot this past quarter was at 78 Amity Street in Cobble Hill, where PHC sold for $3,100,000 or $2,047.56 per square foot.
This past quarter, the largest percentage of Brooklyn Sponsor Sales took place in Williamsburg, where 20.5% of all sponsor sales took place, or 48 out of 234 total sponsor unit sales.
MARKET UP-SWINGSThe largest quarterly up-swing occurred in Crown Heights, where the median price per square foot increased by 40.9%, from $765 to $1,078. Additionally, the median sales price in Crown Heights increased by 95.7%, from $622,500 to $1,218,150.
MARKET DOWN-SWINGSThe largest down-swing this quarter occurred in Gowanus, where the median price per square foot decreased by 7.4%, from $1,095 to $1,014. Additionally, the median sales price in Gowanus decreased by 30.0%, from $1,078,000 to $755,000.
MARKET TRENDSDuring the first quarter of 2020, seven studio sponsor units were sold, representing 2.99% of all sponsor unit sales in Brooklyn. One-bedroom sponsor units represented 49.57% of all sponsor unit sales during in Brooklyn during 1Q20, or 116 out of 234 total sales. Two-bedroom sponsor units represented 32.05% of all Brooklyn sponsor unit sales, or 75 out of 234 total sales. Three-bedroom or larger sponsor units comprised the remaining 15.38% of Brooklyn sponsor sales that occurred during 1Q20, or 36 out of 234 total sales.
71% 28% 17% 22%STUDIO DOWNTOWN BROOKLYN
ONE-BEDROOMWILLIAMSBURG
TWO-BEDROOMWILLIAMSBURG
THREE-BEDROOMPARK SLOPE
NEIGHBORHOODS WHERE THE MAJORITY OF EACH UNIT TYPE WAS SOLD IN 1Q20
7M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249
1Q20 MEDIAN PRICE PER SQUARE FOOT(PPSF) BY NEIGHBORHOOD
1Q20 MEDIAN SALES PRICEBY NEIGHBORHOOD
BAY RIDGE
BED-STUY
BROOKLYN HEIGHTS
BUSHWICK
CARROLL GARDENS
CLINTON HILL
BOERUM HILL/COBBLE HILL
CROWN HEIGHTS
DOWNTOWN BK
DUMBO
FLATBUSH
FORT GREENE
GOWANUS
GREENPOINT
KENSINGTON
PARK SLOPE
PROSPECT HEIGHTS
PLG
WILLIAMSBURG
N/A
$876
$1,824
$856
$1,675
$1,141
$1,795
$1,078
$1,312
N/A
$798
$1,269 $1,014
$1,217 $942
$1,374
$1,176
$856
$1,174
BAY RIDGE
BED-STUY
BROOKLYN HEIGHTS
BUSHWICK
CARROLL GARDENS
CLINTON HILL
BOERUM HILL/COBBLE HILL
CROWN HEIGHTS
DOWNTOWN BK
DUMBO
FLATBUSH
FORT GREENE
GOWANUS
GREENPOINT
KENSINGTON
PARK SLOPE
PROSPECT HEIGHTS
PLG
WILLIAMSBURG
N/A
$625,067
$3,836,832 $580,000
$1,781,938
$1,260,000
$2,700,000
$1,218,150
$997,885
N/A
$570,000
$1,430,000
$755,000
$987,950
$937,809
$1,940,000
$1,357,684
$612,000
$921,162
MARKET SNAPSHOT
BROOKLYNAVERAGE PRICE
8M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249
1Q20 % OF TOTAL SPONSOR SALESBOROUGH-WIDE
NUMBER OF UNITS SOLD IN 1Q20
BAY RIDGE
BED-STUY
BROOKLYN HEIGHTS
BUSHWICK
CARROLL GARDENS
CLINTON HILL
BOERUM HILL/COBBLE HILL
CROWN HEIGHTS
DOWNTOWN BK
DUMBO
FLATBUSH
FORT GREENE
GOWANUS
GREENPOINT
KENSINGTON
PARK SLOPE
PROSPECT HEIGHTS
PLG
WILLIAMSBURG
0
44
6
23
3
5
3
15
21
0
7
4
11
8
4
15
12
5
48
BAY RIDGE
BED-STUY
BROOKLYN HEIGHTS
BUSHWICK
CARROLL GARDENS
CLINTON HILL
BOERUM HILL/COBBLE HILL
CROWN HEIGHTS
DOWNTOWN BK
DUMBO
FLATBUSH
FORT GREENE
GOWANUS
GREENPOINT
KENSINGTON
PARK SLOPE
PROSPECT HEIGHTS
PLG
WILLIAMSBURG
0%
18.8%
2.6%
9.8%
1.3%
2.1%
1.3%
6.4%
9.0%
0%
3.0%
1.7%
4.7%
3.4%
1.7%
6.4%
5.1%
2.1%
20.5%
PRICE TRENDS:BROOKLYN
9
1Q20 UNIT MIX OF NEW DEVELOPMENT SALES
BROOKLYNQUARTERLY TRACKING
MEDIAN PPSF
MEDIAN SALES PRICE
MEDIAN PRICEMEDIAN PPSF
MEDIAN PPSF MEDIAN SALES PRICE
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249
Studios
1 Bedrooms
2 Bedrooms
3 Bedrooms
$1,083 $858,9503%
50%
32%
15%
$-
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$1,400,000
$1,600,000
$1,800,000
$-
$200
$400
$600
$800
$1,000
$1,200
$1,400
1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249
PRICE TRENDS:BAY RIDGE
10
BAY RIDGEPPSF
% OF SALES WITHIN BAY RIDGE
BAY RIDGEQUARTERLY TRACKING
MEDIAN PPSF
MEDIAN SALES PRICE
MEDIAN PPSF
Studios
1 Bedrooms
2 Bedrooms
3 Bedrooms
Studios
1 Bedrooms
2 Bedrooms
3 Bedrooms
N/A N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
MEDIAN PRICEMEDIAN PPSF
$-
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
$900,000
$-
$100
$200
$300
$400
$500
$600
$700
$800
$900
1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249
PRICE TRENDS:BEDFORD-STUYVESANT
11
BEDFORD-STUYVESANTPPSF
% OF SALES WITHIN BEDFORD-STUYVESANT
BEDFORD-STUYVESANTQUARTERLY TRACKING
MEDIAN PPSF
MEDIAN SALES PRICE
MEDIAN PPSF
Studios
1 Bedrooms
2 Bedrooms
3 Bedrooms
Studios
1 Bedrooms
2 Bedrooms
3 Bedrooms
$876 $933
$873
$979
$641
2%
64%
25%
9%
MEDIAN PRICEMEDIAN PPSF
$-
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$-
$200
$400
$600
$800
$1,000
$1,200
1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249
PRICE TRENDS:BROOKLYN HEIGHTS
12
BROOKLYN HEIGHTSPPSF
% OF SALES WITHIN BROOKLYN HEIGHTS
BROOKLYN HEIGHTSQUARTERLY TRACKING
MEDIAN PPSF
MEDIAN SALES PRICE
MEDIAN PPSF
Studios
1 Bedrooms
2 Bedrooms
3 Bedrooms
Studios
1 Bedrooms
2 Bedrooms
3 Bedrooms
$1,824 N/A
N/A
$1,628
$1,886
0%
0%
17%
83%
MEDIAN PRICEMEDIAN PPSF
$-
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
$7,000,000
$8,000,000
$-
$500
$1,000
$1,500
$2,000
$2,500
1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249
PRICE TRENDS:BUSHWICK
13
BUSHWICKPPSF
% OF SALES WITHIN BUSHWICK
BUSHWICKQUARTERLY TRACKING
MEDIAN PPSF
MEDIAN SALES PRICE
MEDIAN PPSF
Studios
1 Bedrooms
2 Bedrooms
3 Bedrooms
Studios
1 Bedrooms
2 Bedrooms
3 Bedrooms
$856 N/A
$871
$814
N/A
0%
74%
26%
0%
MEDIAN PRICEMEDIAN PPSF
$-
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$-
$200
$400
$600
$800
$1,000
$1,200
1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249
PRICE TRENDS:CARROLL GARDENS
14
CARROLL GARDENSPPSF
% OF SALES WITHIN CARROLL GARDENS
CARROLL GARDENSQUARTERLY TRACKING
MEDIAN PPSF
MEDIAN SALES PRICE
MEDIAN PPSF
Studios
1 Bedrooms
2 Bedrooms
3 Bedrooms
Studios
1 Bedrooms
2 Bedrooms
3 Bedrooms
$1,675 N/A
N/A
$1,470
$1,699
0%
0%
67%
33%
MEDIAN PRICEMEDIAN PPSF
$-
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
$4,000,000
$-
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
$1,800
1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249
PRICE TRENDS:CLINTON HILL
15
CLINTON HILLPPSF
% OF SALES WITHIN CLINTON HILL
CLINTON HILLQUARTERLY TRACKING
MEDIAN PPSF
MEDIAN SALES PRICE
MEDIAN PPSF
Studios
1 Bedrooms
2 Bedrooms
3 Bedrooms
Studios
1 Bedrooms
2 Bedrooms
3 Bedrooms
$1,141 N/A
$750
$1,144
N/A
0%
20%
80%
0%
MEDIAN PRICEMEDIAN PPSF
$-
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$1,400,000
$-
$200
$400
$600
$800
$1,000
$1,200
$1,400
1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249
PRICE TRENDS:BOERUM HILL - COBBLE HILL
16
BOERUM HILL - COBBLE HILLPPSF
% OF SALES WITHIN BOERUM HILL - COBBLE HILL
BOERUM HILL - COBBLE HILL QUARTERLY TRACKING
MEDIAN PPSF
MEDIAN SALES PRICE
MEDIAN PPSF
Studios
1 Bedrooms
2 Bedrooms
3 Bedrooms
Studios
1 Bedrooms
2 Bedrooms
3 Bedrooms
$1,795 N/A
N/A
$1,575
$1,795
0%
0%
67%
33%
MEDIAN PRICEMEDIAN PPSF
$-
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
$-
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
$1,800
$2,000
1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249
PRICE TRENDS:CROWN HEIGHTS
17
CROWN HEIGHTSPPSF
% OF SALES WITHIN CROWN HEIGHTS
CROWN HEIGHTSQUARTERLY TRACKING
MEDIAN PPSF
MEDIAN SALES PRICE
MEDIAN PPSF
Studios
1 Bedrooms
2 Bedrooms
3 Bedrooms
Studios
1 Bedrooms
2 Bedrooms
3 Bedrooms
$1,078 N/A
$1,078
$773
$1,258
0%
33%
40%
27%
MEDIAN PRICEMEDIAN PPSF
$-
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$1,400,000
$-
$200
$400
$600
$800
$1,000
$1,200
1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249
PRICE TRENDS:DOWNTOWN BROOKLYN
18
DOWNTOWN BROOKLYNPPSF
% OF SALES WITHIN DOWNTOWN BROOKLYN
DOWNTOWN BROOKLYNQUARTERLY TRACKING
MEDIAN PPSF
MEDIAN SALES PRICE
MEDIAN PPSF
Studios
1 Bedrooms
2 Bedrooms
3 Bedrooms
Studios
1 Bedrooms
2 Bedrooms
3 Bedrooms
$1,312 $1,367
$1,461
$1,200
N/A
24%
48%
29%
0%
MEDIAN PRICEMEDIAN PPSF
$-
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
$-
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
$1,800
1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249
PRICE TRENDS:DUMBO
19
DUMBOPPSF
% OF SALES WITHIN DUMBO
DUMBOQUARTERLY TRACKING
MEDIAN PPSF
MEDIAN SALES PRICE
MEDIAN PPSF
Studios
1 Bedrooms
2 Bedrooms
3 Bedrooms
Studios
1 Bedrooms
2 Bedrooms
3 Bedrooms
N/A N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
MEDIAN PRICEMEDIAN PPSF
$-
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
$7,000,000
$-
$500
$1,000
$1,500
$2,000
$2,500
1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249
PRICE TRENDS:FLATBUSH
20
FLATBUSHPPSF
% OF SALES WITHIN FLATBUSH
FLATBUSHQUARTERLY TRACKING
MEDIAN PPSF
MEDIAN SALES PRICE
MEDIAN PPSF
Studios
1 Bedrooms
2 Bedrooms
3 Bedrooms
Studios
1 Bedrooms
2 Bedrooms
3 Bedrooms
$798 N/A
$798
$777
N/A
0%
71%
29%
0%
MEDIAN PRICEMEDIAN PPSF
$-
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$-
$200
$400
$600
$800
$1,000
$1,200
1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249
PRICE TRENDS:FORT GREENE
21
FORT GREENEPPSF
% OF SALES WITHIN FORT GREENE
FORT GREENEQUARTERLY TRACKING
MEDIAN PPSF
MEDIAN SALES PRICE
MEDIAN PPSF
Studios
1 Bedrooms
2 Bedrooms
3 Bedrooms
Studios
1 Bedrooms
2 Bedrooms
3 Bedrooms
$1,269 N/A
$1,193
$1,335
N/A
0%
25%
75%
0%
MEDIAN PRICEMEDIAN PPSF
$-
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$-
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249
PRICE TRENDS:GOWANUS
22
GOWANUSPPSF
% OF SALES WITHIN GOWANUS
GOWANUSQUARTERLY TRACKING
MEDIAN PPSF
MEDIAN SALES PRICE
MEDIAN PPSF
Studios
1 Bedrooms
2 Bedrooms
3 Bedrooms
Studios
1 Bedrooms
2 Bedrooms
3 Bedrooms
$1,014 $757
$1,023
$1,005
$996
9%
64%
18%
9%
MEDIAN PRICEMEDIAN PPSF
$-
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$1,400,000
$1,600,000
$1,800,000
$2,000,000
$-
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249
PRICE TRENDS:GREENPOINT
23
GREENPOINTPPSF
% OF SALES WITHIN GREENPOINT
GREENPOINTQUARTERLY TRACKING
MEDIAN PPSF
MEDIAN SALES PRICE
MEDIAN PPSF
Studios
1 Bedrooms
2 Bedrooms
3 Bedrooms
Studios
1 Bedrooms
2 Bedrooms
3 Bedrooms
$1,217 N/A
$1,148
N/A
$1,261
0%
63%
0%
38%
MEDIAN PRICEMEDIAN PPSF
$-
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$-
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
$1,800
1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249
PRICE TRENDS:KENSINGTON
24
KENSINGTONPPSF
% OF SALES WITHIN KENSINGTON
KENSINGTONQUARTERLY TRACKING
MEDIAN PPSF
MEDIAN SALES PRICE
MEDIAN PPSF
Studios
1 Bedrooms
2 Bedrooms
3 Bedrooms
Studios
1 Bedrooms
2 Bedrooms
3 Bedrooms
$942 N/A
N/A
$942
N/A
0%
0%
100%
0%
MEDIAN PRICEMEDIAN PPSF
$-
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$1,400,000
$-
$100
$200
$300
$400
$500
$600
$700
$800
$900
$1,000
1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249
PRICE TRENDS:PARK SLOPE
25
PARK SLOPEPPSF
% OF SALES WITHIN PARK SLOPE
PARK SLOPEQUARTERLY TRACKING
MEDIAN PPSF
MEDIAN SALES PRICE
MEDIAN PPSF
Studios
1 Bedrooms
2 Bedrooms
3 Bedrooms
Studios
1 Bedrooms
2 Bedrooms
3 Bedrooms
$1,374 N/A
N/A
$1,422
$1,347
0%
0%
47%
53%
MEDIAN PRICEMEDIAN PPSF
$-
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$-
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249
PRICE TRENDS:PROSPECT HEIGHTS
26
PROSPECT HEIGHTSPPSF
% OF SALES WITHIN PROSPECT HEIGHTS
PROSPECT HEIGHTSQUARTERLY TRACKING
MEDIAN PPSF
MEDIAN SALES PRICE
MEDIAN PPSF
Studios
1 Bedrooms
2 Bedrooms
3 Bedrooms
Studios
1 Bedrooms
2 Bedrooms
3 Bedrooms
$1,176 N/A
$1,187
$1,277
$1,143
0%
25%
42%
33%
MEDIAN PRICEMEDIAN PPSF
$-
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$-
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249
PRICE TRENDS:PROSPECT LEFFERTS GARDENS
27
PROSPECT LEFFERTS GARDENS PPSF
% OF SALES WITHIN PROSPECT LEFFERTS GARDENS
PROSPECT LEFFERTS GARDENSQUARTERLY TRACKING
MEDIAN PPSF
MEDIAN SALES PRICE
MEDIAN PPSF
Studios
1 Bedrooms
2 Bedrooms
3 Bedrooms
Studios
1 Bedrooms
2 Bedrooms
3 Bedrooms
$856 N/A
$917
$798
$851
0%
40%
20%
40%
MEDIAN PRICEMEDIAN PPSF
$-
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
$900,000
$-
$200
$400
$600
$800
$1,000
$1,200
1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249
PRICE TRENDS:WILLIAMSBURG
28
WILLIAMSBURGPPSF
% OF SALES WITHIN WILLIAMSBURG
WILLIAMSBURGQUARTERLY TRACKING
MEDIAN PPSF
MEDIAN SALES PRICE
MEDIAN PPSF
Studios
1 Bedrooms
2 Bedrooms
3 Bedrooms
Studios
1 Bedrooms
2 Bedrooms
3 Bedrooms
$1,174 N/A
$1,138
$1,264
$1,303
0%
67%
27%
6%
MEDIAN PRICEMEDIAN PPSF
$-
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$1,400,000
$1,600,000
$1,800,000
$2,000,000
$-
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249
THE REPORTEXPLAINED
29
INCLUDED IN THIS RESEARCH ARE WALK-UP AND ELEVATOR NEW DEVELOPMENT CONDOMINIUM BUILDINGS, AS WELL AS NEW CONVERSION CONDOMINIUMS IF THE SALES WERE APPLICABLE SPONSOR TRANSACTIONS. EXCLUDED FROM THE REPORT ARE ALL COOPERATIVE SALES.
Unit types such as studios, one-bedrooms, and two-bedroom units are grouped by square footage ranges. Typically, studios are under 550 square feet, one-bedrooms range from 500-750 square feet, two-bedrooms from 800-1,000 square feet and three-bedrooms+ from 950 square feet to in excess of 1,500 square feet. Presented with a quarter-over quarter and year-over-year comparison, both city-wide and by neighborhood, MNS New Development ReportTM tracks the market trends throughout Brooklyn and Brooklyn. MNS offers a unique insight into the new development market by tracking stalled construction sites on a quarterly basis, a great indicator of where development in general is moving. MNS is your source to find neighborhood price per square foot analy-sis, average sale prices, unit type sales trends, overall price movement, neighborhood inventory comparisons, and absorption rates.
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Contact Us Now: 718.222.0211 Note: All market data is collected and compiled by MNS’ marketing department. The information presented here is intended for instructive purposes only and has been gathered from sources deemed reliable, though it may be subject to errors, omissions, changes or withdrawal without notice.
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