Greenwood Brooklyn | Fall Real Estate Report

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GREENWOOD, BROOKLYN  - If you live in Greenwood, or as some like to call it South Slope, and take a look around you will realize there is a lot of construction going on right now on every street. For referential purposes greenwood usually goes from Prospect Avenue to 36th Street, I sometimes consider the transition starting around 15th Street. 5th and 6th Avenue have new condo buildings opening up this fall with offerings in the 1100's price per square foot and 19th Street has two new rental projects approaching end of lease out or opening up soon. Single and multi family frame houses make up the majority of the area mixed with condos. After rezoning in 2005, the post recession second wave of new development condos have been closing in 2017 making for changes in the neighborhood.

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Condos

closed condo sales from the last 6 months

closed condo sales from the last 6 months

We will go more in depth into current and upcoming condo projects in later posts, but for now we will focus on the closed data from the last 6 months or so. If you want to talk about the new sales development currently on the market or projects I am working on for the spring please call me. I will provide you with a few links to help you navigate. Here is a list of current condo offerings on the market right now. It is a mix between resales with attractive tax abatement from 2007-2011ish time and more contemporary finishes of newer projects. The Stanton on Sixth at 695 6th Avenue and The Aaron at 236 17th Street are elevating new development trends and buyer expectations in the area. A stones throw from my home, I find both these locations and price points very attractive in the market place. Please click the links to go to the listing page to learn more.


Multi Families

closed multi family in the last 6 months

closed multi family in the last 6 months

Multi families have been highly desired in the area for a few years now because of several reasons. As traditional competitive markets are seeing record high prices for brick and brownstone multi families in the 3 million + price range, end user buyers now priced out of the market look south to Greenwood which still has access to Prospect Park and desirable schools such as PS10. Greenwood still remains driver friendly as street parking is easy with fewer thru streets because of The Greenwood Cemetery, Prospect Park, The Prospect Expressway and 278 the BQE. The wood frame houses are mixed between totally finished head to toe, needs work, and total gut. This gives a wide range of buyers to attract, some want to move in and others want to do it them selves. Taxes on a 2 family house in Brooklyn remain much more attractive than New Jersey, Long Island, or Westchester. For developers, pairing up a row of a few frame houses will make for a good boutique condo project as nearly all homes in the area have existing FAR on the lot. Click this link for a list of currently available multi family houses on the market right now. Single families make a smaller majority of the homes on the market but here is a link you can click to take a look at what is out there now.


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Neighborhood

Local residents have continued to see investment and improvement in the area along retail corridors in the last few years. On a personal note, it is truly easy to never leave as many of my friends will attest to. Starting with fitness, 5th ave is home to several gyms such as Harbor Fitness, The YMCA and now Crunch. In addition to traditional gyms, we have several martial arts studios such as Park Slope BJJ, Amerikick, and most recently iLove kickboxing. You can also get your yoga fix at Align and I am Yoga. It is likely these gyms have made themselves home right in between the best food you can get in Brooklyn. We can write a whole post on the food but places like Sidecar J'eatjet and Sea Witch along fifth ave then Lot 2 with Sunday supper, Southside Cafe with a decadant $9 breakfast sandwich (that has its own pin) and Toby's Pizza on sixth ave to name a few you can see why its an eaters paradise. The area is family friendly while also having good night life (we will have a separate post on drinking lol) and having all the necessities of city life like doctors, grocery stores, hardware, ect.

I hope you found this helpful and if you are considering selling or buying home in the area I would love to hear from you. Message me or call today. Please rate, comment, subscribe and share. Feedback is always welcome :)

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