The mansions of South Brooklyn
The borough’s priciest homes — outside the brownstone belt
November 01, 2012By Tracey Samuelson
To most New Yorkers, luxury Brooklyn real estate means gracious four-story brownstones in Brooklyn Heights or sleek new-construction condos in Williamsburg.
But some of the borough’s priciest real estate is actually much farther south, in communities often overlooked by outsiders, including Gravesend, Bay Ridge and Brighton Beach.
In fact, some of the most expensive properties ever sold in Brooklyn are located in its southern neighborhoods, where high-end real estate often boasts water views, in-ground pools and plenty of square footage.
Brooklyn’s current record holder is a townhouse at 212 Columbia Heights in Brooklyn Heights, which sold for $11 million earlier this year, according to the real estate data provider PropertyShark. But before that, an 8,200-square-foot brick mansion at 2111 East Second Street in Gravesend held the record for Brooklyn’s priciest-ever transaction, selling for $10.26 million in 2009.
The priciest sale in Brooklyn in 2011 was also in the southern half of the borough — a single-family house at 451 Avenue S in Gravesend sold for $10.25 million.
The strength of South Brooklyn’s real estate market is due in part to the tight-knit communities that live there, brokers said. Over the years, for example, Gravesend has attracted a small but significant population of Sephardic Jews primarily from Syria, Lebanon and Egypt. Brighton Beach, of course, is known for its preponderance of Russian immigrants.
Many wealthy members of these communities choose to remain in South Brooklyn rather than decamping for more fashionable areas of the city, sources say.
Buyers of South Brooklyn luxury properties “could afford to be anywhere, but they consciously pick to be there” because of their ties to the area, explained Sheepshead Bay native Victoria Shtainer, an executive vice president with Prudential Douglas Elliman.
But some of the borough’s priciest real estate is actually much farther south, in communities often overlooked by outsiders, including Gravesend, Bay Ridge and Brighton Beach.
In fact, some of the most expensive properties ever sold in Brooklyn are located in its southern neighborhoods, where high-end real estate often boasts water views, in-ground pools and plenty of square footage.
Brooklyn’s current record holder is a townhouse at 212 Columbia Heights in Brooklyn Heights, which sold for $11 million earlier this year, according to the real estate data provider PropertyShark. But before that, an 8,200-square-foot brick mansion at 2111 East Second Street in Gravesend held the record for Brooklyn’s priciest-ever transaction, selling for $10.26 million in 2009.
The priciest sale in Brooklyn in 2011 was also in the southern half of the borough — a single-family house at 451 Avenue S in Gravesend sold for $10.25 million.
The strength of South Brooklyn’s real estate market is due in part to the tight-knit communities that live there, brokers said. Over the years, for example, Gravesend has attracted a small but significant population of Sephardic Jews primarily from Syria, Lebanon and Egypt. Brighton Beach, of course, is known for its preponderance of Russian immigrants.
Many wealthy members of these communities choose to remain in South Brooklyn rather than decamping for more fashionable areas of the city, sources say.
Buyers of South Brooklyn luxury properties “could afford to be anywhere, but they consciously pick to be there” because of their ties to the area, explained Sheepshead Bay native Victoria Shtainer, an executive vice president with Prudential Douglas Elliman.
Read Full Story here: http://therealdeal.com/blog/2012/11/21/the-mansions-of-south-brooklyn/
