Brooklyn 2013 Real Estate Predictions

Three Brooklyn neighborhoods poised to be the city's hottest real estate spots in 2013

 

New York City home values are forecasted to barely budget in the coming year, but parts of Brooklyn are ready to take off, according to a new report.

By Elizabeth Lazarowitz / NEW YORK DAILY NEWS

Tuesday, January 22, 2013, 12:49 PM

New York City home values may be ho-hum in the year ahead, but parts of Brooklyn appear poised to blaze, a report released on Tuesday showed. Some of the city's hottest properties of 2013 will be in Brooklyn's Prospect Lefferts Gardens, where the median home value is set to surge 8% to about $901,000, according to real estate data company Zillow. Brooklyn Heights and Boerum Hill, where home values are expected to rise about 7% by December, will round out the top three biggest gainers, according to Zillow's forecasts. Read more: http://www.nydailynews.com/life-style/real-estate/brooklyn-home-real-estate-hot-spots-article-1.1244947#ixzz2J0P9gNQ7

• 
  

Boerum Hill's historic character to be preserved in perpetuity after new zoning laws

City Council approves zoning change for Boerum Hill

September 21, 2011 06:00PM

The City Council today approved a new zoning plan in Brooklyn's Boerum Hill that will cap new development at 50 feet, the New York Post reported. Boerum Hill residents had pushed hard for the new zoning regulations to prevent large towers from rising in their neighborhood as are already planned in nearby Prospect Heights for the controversial Atlantic Yards project.

City Council member Steve Levin represents the historic, landmarked neighborhood, and said many of the homes were built more than 150 years ago and the rezoning "is going to make sure that… historic character is preserved in perpetuity."

The rezoning area is flanked by Atlantic Avenue to the north, Court Street to the west, Fourth Avenue to the east and parts of Warren and Wyckoff streets to the south. The new rules are similar to zoning changes put in place in Brooklyn Heights, Cobble Hill, Fort Greene, Clinton Hill, Park Slope, and Carroll Gardens. [Post]

Dumbo and Boerum Hill join the ranks of NYC's most expensive nabes

Considering the proximity of these nabes to lower Manhattan, many former manhattanites are taking the plunge and moving across the bridge. My typical client who is making that move is usually seeking better quality and not so concerned with lowering their current rent. A $2500.00 budget in Mahattan doesn't go very far, even on the Upper East side or Hell's Kitchen where you can often find lower rents.
The draw is leaving your basic walk-up apt with no amenties to finding yourself in a full service bldg with tons of ammenties, rooftops, gyms, laundry, party rooms, conceirge srvc. etc.
Many of my clients who have been on tight budgets and fixated on living in the City, don't mind the 10-20 minute commute, if I can get them to just "take a look" at some Brooklyn neighborhoods. They soon discover that they are not "missing out" because there is a plethora of restaurants, bars, shops, green spaces, etc.

Dumbo and Boerum Hill join Soho and Tribeca as NYC's most expensive nabes

August 16, 2011 12:30PM

Dumbo

Soho and Tribeca were the most expensive New York City neighborhoods in the second quarter of 2011, but Dumbo was a surprising fourth entry on the top 10 list, according to PropertyShark.com. Dumbo was ahead of many other Manhattan neighborhoods such as the Upper East Side, the Upper West Side, the West Village and Chelsea, with a median sale price of $1.075 million. That price increased 9 percent from the median sales price in the second quarter of 2010, which was $990,000,
READ FULL STORY HERE:
http://therealdeal.com/newyork/articles/dumbo-and-boerum-hill-join-soho-and-tribeca-as-nyc-s-most-expensive-neighborhoods-according-to-propertyshark-com