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Tag: Brooklyn real estate

Why should you buy an apartment in Brooklyn Heights?

Of all the locations in New York City, few areas have as much culture, entertainment, and opportunities as Brooklyn Heights. Once a location that few people really paid attention to, Brooklyn Heights has blossomed a lot over the years and is now one of the most beloved and popular parts of town.  

It is close to Manhattan, Brooklyn, Queens, and is filled with wonderful businesses, restaurants, parks, and many other features that make it an ideal place to live in.  

People who haven’t lived in Brooklyn Heights before may not be sure what it is that makes this part of town so enticing and exciting. They might also not know what to look for in terms of price, location, and companies that they want to live next door to.  

The truth is that there’s a lot to know – and be excited for – when it comes to Brooklyn Heights. There are many reasons why so many people are eager to move from all over the country to this unique and special part of New York. Let’s take a deeper look at what Brooklyn Heights has to offer you and your future. 

How much does it cost to live in Brooklyn Heights?

If you want to buy an apartment in Brooklyn Heights, there are many things to keep in mind. That is also true if you want to buy a condo in Brooklyn Heights or buy a co-op in Brooklyn Heights. Obviously, the biggest and most pressing things that people focus on is the price of living there. 

Brooklyn Heights, which was one of the first neighborhoods that people experience when passing over the Brooklyn Bridge from Manhattan, is a very popular option. Its location near the East River provides gorgeous views for residents and also pretty high price point too.  

The cost of living in Brooklyn Heights varies but the median sales price as of October 2023 is about $1.3 million with a price per square feet an average of $1,508 per sq.ft., while the median rent for tenants is typically about $6,150*. It is important to note, however, that some prices are much, much higher than that depending on the type of property.

*Data from OLR

Why buy an apartment in Brooklyn Heights? 

There are so many reasons to have interest in living in Brooklyn Heights that finding just a few to highlight can be very difficult. The truth is that this part of New York City has a plethora of options for anyone looking for the best in food, entertainment, and culture as well. 

One of the best things about Brooklyn Heights is that it’s just a single subway or ferry stop away from the hustle and bustle of downtown Manhattan. In fact, most commuters have noted that it takes no more than 30 minutes to get from Brooklyn Heights to the heart of the city. At the same time, it is very quiet and often feels like a million miles away from such a busy part of town. That duality of proximity to the city with its quiet neighborhoods makes Brooklyn Heights enticing and well worth the commute for plenty of people.  

Dining

Brooklyn Heights has made a name for itself as one of the premiere locations when it comes to food in the Big Apple. Whether you are looking for a fancy dinner or a quiet night out with friends or family, Brooklyn Heights has you covered.  

Vineapple Cafe is a bright and colorful restaurant where you can enjoy delicious soups and sandwiches for dinner or lunch. Dellarocca’s is perfect for those hankering for brick over pizza while Colonie is a high-end New American eatery that will create memories and happy tummies.  

Other restaurants offer a variety of French, Italian, and American meals. And don’t forget the plethora of both high-end and affordable coffee shops that will provide you with yummy drinks, great atmosphere, and a great place to make company.  

Shopping 

It doesn’t matter what you’re looking to buy, you can find it in Brooklyn Heights. Montague Street, for example, has a slew of great and memorable shops that you can spend hours in. But there are countless other places you can spend your money, from the well-known to the more unique and under the radar.  

Fulton Mall, which is technically part of Brooklyn, is one of the hot spots in the area that provides a bunch of places for you to look and spend. It is multiple blocks of businesses that feature brands such as Express, American Eagle, Banana Republic, The Gap, and others. TJ Maxx and Nordstroms Rack have also planted their flags in this part of town.  

Many tourists and city residents spend all day in Brooklyn Heights window shopping or spending cash in the finest boutiques and stores.  

Culture

From Brooklyn Bridge Park to the Brooklyn Heights Promenade, Cadman Plaza Park, and more, there are plenty of lively locations throughout this part of town that have plenty to offer. You will find plenty of parks, clubs, and other places where you can meet new people, make friends, and create a small community of your own.  

Summary 

Living in Brooklyn Heights can be a very rewarding and exciting move for you to make when you are making your home in New York. There is just so much to do and see that you’ll never run out of fun times to be had. If you really want to buy an apartment in Brooklyn Heights, you should contact our experts at BARNES New York. For years now, we have learned everything there is to know about Brooklyn Heights and all of New York. We will walk you through the entire process and help you find a house that truly feels like a home. It doesn’t matter if you’re looking for an apartment, condo, penthouse, or townhouse in Brooklyn Heights, it is vital that you contact us today! 

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Why should you buy an apartment in DUMBO?

DUMBO is a very popular and blossoming neighborhood in Brooklyn, and that means that the price of living there has gone up over the years. This guide will teach you everything you need to know if you want to buy an apartment in DUMBO. 

DUMBO has become one of the most popular parts of Brooklyn but it still remains a hidden treasure for many. In fact, many people in New York don’t even know where this region of town got its name from. 

The truth is that DUMBO stands for “Down Under the Manhattan Bridge Overpass.” The idea of living near one of the most popular and busy bridges in the country might not sound appealing to some, but it’s actually one of the best neighborhoods in town. That is why finding an apartment for sale in DUMBO or the act of buying a condo in DUMBO or buying a co-op in Dumbo is harder than ever for some.  

Once a best-kept secret, DUMBO has become more and more popular, especially over the last few years during the COVID-19 pandemic. But DUMBO isn’t the cheapest part of town, and demand for nearly any apartment, townhouse, or penthouse in the area has skyrocketed seemingly overnight. Therefore, you need to know what you’re getting into when you start house-hunting in this region. There are many things to keep in mind and look out for, which is true when you’re attempting to make a home in any part of Brooklyn. 

Let’s have a deeper look at all that DUMBO has to offer and why should you buy an apartment in DUMBO. It might have a somewhat silly name but there is nothing silly about how great this area is. 

How much does it cost to live in DUMBO? 

DUMBO was becoming increasingly more popular a few years ago but its popularity exploded during the COVID pandemic.  

That demand for this specific location has meant that the price of living has also gone up. The more people look to move to DUMBO, the more they are charged. It now costs more to live in DUMBO than it ever has before. 

According to UrbanDigs, the median sales price market-wide in DUMBO in August 2023 was $1.59M. Supply also showed a 22% decline compared to last year. The median rent for an apartment with one bedroom is about $5,150 a month. If you are looking for a two-bedroom place in DUMBO, you should expect to spend at least $6,800 a month. 

As you can see, the price of getting your foot in the door of DUMBO isn’t cheap. But that’s because there is just so much that makes this region great.  

Why buy in DUMBO? 

Living in DUMBO comes with many rewards. Firstly, you are sure to find a location that is both modern and vintage at the same time. It will be convenient, refurbished, and very trendy too. But there is more than just that that makes DUMBO a part of the city that you should pay attention to and invest your money in. 

Dining 

You will have no shortage of places to eat good meals and wet your whistle when you move to DUMBO. The River Cafe, for example, is high-end and stunning and has provided great dishes for more than 40 years. Ample Hills Creamery is not only a wonderful spot to enjoy some yummy treats but is also a museum too. And no self-respecting New Yorker can go long without a delicious slice of pizza like the type you can get at Juliana’s. 

One of the best things about the eateries in DUMBO is that they come with amazing views. Most of the restaurants in the area are just walking distance from the stunning, historic Brooklyn Bridge. 

Culture 

Like in all parts of Brooklyn, you will have great tastes of local culture when you move to DUMBO. The location has been blossoming lately with wonderful places for open mic nights, concerts, book readings, and so much more.  

In fact, there are a plethora of things to do in DUMBO and you will always have something fun and exciting on your schedule after moving to this part of town. And one of the best things about DUMBO is that most everything is within walking distance of wherever you are living. And when you are walking from one place to another, you will surely stumble upon countless other businesses and places that you want to visit soon.  

Shopping 

Since DUMBO is one of the hippest parts of town, there are a lot of great, small, fun, and unique shops that will keep you busy and happy. From the more high-end to the more quirky and fun, like Natchie, Glam Expressway, and more.  

No matter where you shop in DUMBO, you can be sure that you’ll be offered the latest and greatest in fashion and accessories. Additionally, if you are looking for businesses that are more well-known and familiar to you, you will also be in luck because DUMBO has a bunch of companies and brands that everyone loves as well.

Summary

DUMBO is now one of the most exciting and sought-after areas of Brooklyn. With that demand comes a high cost, which is all the more reason you should be sure that you’re getting the apartment, condo, or co-op of your dreams. You can do that by calling upon our team at BARNES New York if your dream is to buy an apartment in DUMBO. We have the experience, the expertise, and the skill to find you a home that feels unique and tailor-made for you.  

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In the Media – Williamsburg by LePetitJournal

Want to know more about Williamsburg, the trendy Brooklyn neighborhood?

Read this article by LePetitJournal, presenting the advantages of living in Williamsburg as well as a real estate overview of the neighborhood. This vibrant area offers a unique ambiance, proximity to Manhattan, green spaces, and numerous points of interest and amenities.

Read the article on LePetitJournal:

Read the article

What is the housing price in Brooklyn?

For aspiring homebuyers, New York is an ideal place to invest in. Besides being known for its incredible sights and sounds, New York also offers an abundance of historical estates for those who want their homes to have character and charm. On the other hand, a previous look at ’Buying New Real Estate Development in New York’ has also shown how brand new buildings and modern apartments come with the advantages of convenience and upgraded amenities. In this article, we will learn more about housing prices in Brooklyn.

Regardless of which type of property you want, Brooklyn is a particularly popular option among the five boroughs in New York. Its residential areas are characterized by a blend of history and modernity, while still retaining the strong sense of community that’s otherwise lost in urban living. As such, here’s what you need to know and expect about housing prices in Brooklyn.

What is the current housing market like?

Since New York is a densely populated city, many find the housing market to be fairly daunting. However, as an article by Curbed on housing market expectations for 2023 notes, home prices in New York have fallen slightly to 6.3%*. Compared to the previous year’s record-high rates, interest rates are also forecasted by real estate expert Jonathan Miller to fall just below 6%*.

* Data from Curbed “What Should New York Homebuyers Expect in 2023?” by Adriane Quinlan.

Specific to Brooklyn, data from PropertyShark states that the median home sale price is $769K, indicating a 3.8% year-over-year decrease. Meanwhile, the median price per square foot saw a 7.4% year-over-year change at $890.*1

*1 Data from Property Shark “Brooklyn Real Estate Market Trends”

Which factors affect housing prices?

One of the main factors which affect housing prices is the age of the property. While older, more run-down apartments are generally cheaper, it’s a different story when the apartment that you’re eyeing is landmarked for historical preservation. Brand new apartments will of course be relatively more expensive, but the price increase may vary depending on the upgrades.

Another factor that can significantly influence the cost of an apartment is its location. Prices can be steep when properties are close to shopping centers and public transit, and Brooklyn is connected to Manhattan by several rapid-transit tubes. Appraisers also look at the neighborhood comp and nearby employment opportunities when determining housing values.

Which Brooklyn neighborhoods can I look into?

The right Brooklyn neighborhood for you may depend on your budget and the type of apartment you’re looking for. For example, DUMBO (Down Under the Manhattan Bridge Overpass) has several industrial and warehouse complexes that have been transformed into luxury residential lofts over the years. It’s a trendy neighborhood where business, art, and leisure meet, and where 1-bed, 1-bath condos start at $995,000.

For those in search of an area that’s rich and brimming with history, try looking into Brooklyn Heights. The New York Times has written about how this neighborhood is becoming increasingly coveted these days — not only due to celebrity sightings but also because of its picturesque streetscapes and historically rich architectural styles. If you go through our official property finder for Brooklyn Heights, you’ll find that 1-bed, 2-bath condos start at around $105,000. However, large houses along Fifth Avenue that boast over 15,000 square feet of living space can go up to $80,000,000.

While median prices in Brooklyn are slightly higher than median prices in New York as a whole, BARNES New York is here to help you find the best possible offer for the apartment that meets your budget, needs, and lifestyle ambitions.

You can choose to view the website first for our wide range of property listings before our agents who are equipped with real estate knowledge and negotiation skills reach out to you. We can also help clients locate properties with cost-efficient utilities in order to maximize their investment and save costs in the long run.

by Reese Jones

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Is investing in Brooklyn real estate a good choice?

By Annie Newman

Is Brooklyn the next Manhattan? When you hear of Brooklyn, you may think it’s only one neighborhood but Brooklyn comprises of many different neighborhoods with various cultures, lifestyles and architecture for you to choose from.  Some areas have become very exclusive and expensive. Brooklyn is geographically larger than Manhattan and many areas have wonderful water views and sceneries. Even though some parts of Brooklyn include post war buildings, there are many new developments and high rises that are newly built and offer all the modern facilities that you may need. Brooklyn is a short drive from Manhattan and many people work and commute every day between those two boroughs. One can live in Brooklyn and have an apartment that faces the Manhattan Skyline without the prices of living directly in Manhattan itself. Some Brooklyn apartments for sale may actually be as expensive as some Manhattan condos and some houses for sale in Brooklyn may be even more expensive than some found in Manhattan. Brooklyn is becoming more popular and trendy amongst young people, investors and those who desire to work in Manhattan but prefer the more quiet or affordable neighborhoods of Brooklyn.

Luxury condos in Brooklyn

One Brooklyn neighborhood that is developing quite quickly and is becoming popular among investors and residents is Williamsburg. Some people may not realize that Brooklyn also offers luxury real estate but some homes and apartments are priced and sold reflecting a true luxury market. There are luxury condos in Williamsburg that face the water and have beautiful views of the city and nicely built boardwalks and parks with access to ferries at all times of the day. Some other communities also offer single family homes or semi-detached houses that are surrounded by beautiful nature and peaceful settings. Some apartments in Brooklyn are very spacious and you can choose a brand new construction or a completely renovated historical structure. One historic Brooklyn mansion in Prospect Park went on the market for $30 million. Not many suburbs of big cities offer such exclusive properties.

The future of Brooklyn Real Estate

A view of buildings of different styles in Brooklyn, with historic style, red-brick low-rise building in front, and modern, glass buildings in the background.

During the Covid pandemic, some investors realized that due to certain business closures, some of the Manhattan real estate had temporarily dropped in value or prices but the Brooklyn real estate market maintained a more balanced and stable demand during that challenging period. Over time, Brooklyn homes and townhouses increased in value and the last couple of years have seen an even bigger increase in the value of real estate in Brooklyn. Many millennials keep moving from the densely populated and expensive Manhattan districts to the nearby neighborhoods in Brooklyn that are up-and-coming. Brooklyn has just as much access to public transport and subway systems as Manhattan and it is therefore very easy to reach Manhattan from there. It encourages more people to live in Brooklyn and go to Manhattan for business or entertainment. Brooklyn itself though has enough public places and entertainment venues that are attractive enough to compete with the Big Apple.

How to choose a property and neighborhood in Brooklyn

Brooklyn is one of the 5 boroughs of New York City and is an area in demand when it comes to real estate and purchasing land or residences. Brooklyn is the fastest growing borough in terms of population. There are so many condos in Brooklyn as well large homes and even mansions that offer great views, exciting lifestyles and proximity to the glamor of Manhattan. There are dozens of Brooklyn neighborhoods and choosing the right place to live is an important decision. One has to decide if they prefer to be as close as possible for work purposes to the big City, or if they prefer more quiet areas. They need to decide if they prefer certain cultural aspects of the different regions or if they prefer a certain type of architecture. Brooklyn has many respected and visited museums. Some parts of Brooklyn are definitely older and have typical post war buildings but many are renovated and quite expensive. If you prefer brand new constructions, there are many new buildings that are constantly being built. Just like Manhattan, many buildings are constructed as high rises due to the large population and the desirable real estate market. It is worth taking the time to explore the different areas of this large borough as each neighborhood has a lot to offer to its population.  

Brooklyn luxury condos are now competition to homes and townhouses

The number of luxury contracts for properties is increasing steadily in Brooklyn and many buyers are choosing to purchase luxury condos over traditional houses or townhouses in the borough. The reason for this phenomenon is that these residences are more likely to be newer constructions; they offer more special views due to their high rise nature and don’t need the renovations necessary for many of the Brooklyn homes that were built quite a few decades ago. Some of these condos have more than one floor and can offer a similar or better lifestyle than a house and includes more modern amenities. Some older houses are even included in the luxury real estate market in Brooklyn because many buyers choose to renovate them to a great extent after purchasing them. The median asking price for Brooklyn luxury apartments and condos are often in the millions. Being so close to Manhattan and even having direct views of the city contributes to the value and price range of these homes. Many other big cities in the world can offer exclusive properties and have prices to reflect them, but usually the direct suburbs are significantly less expensive. Not in Brooklyn though because being close to a city such as Manhattan is truly special as it is one of the most popular places in the world.

BARNES New York is at your disposal to guide you and help you choose the right Brooklyn apartment or residence of your dreams thanks to a strong team of experts to assist you in all aspects of your real estate goals and expectations. We look forward to presenting you with the most prestigious and exclusive properties that Brooklyn has to offer.

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