Here you'll find the highest demand, and in the last six months generally you were looking at about $770/sf. Go south and it's been around $723/sf. Go toward the waterfront and were talking about $830/sf. On the very high end, penthouses with outdoor space and protected views you were talking $1200/sf. Be very careful doing comparisons in this area - there isn't a greater range of product anywhere else in North Brooklyn (i.e. nearly all the classic loft buildings are here). Deals are scarce and most don't have to negotiate. There isn't much on the market right now. Studios and 1-beds are between $515K and $900K (large ones of course). 2-beds are available for $699K - $1.8M, most hovering around $1M. 3-beds run $995K - $2.5M. You'll also find some in-between categories that can convert.
Only a handful of townhouses have traded in the last 9 months. Single families went for between $885K and $2.025M (this was a top-shelf reno). Two's and Three's went for between $750K and $2.7M (that one had a commercial unit too). There are only a few on the market now, between $1.3M and $1.6M. In this area you are most likely to find sellers pricing ahead of the market just to see what they can get away with. Sometimes they win, sometimes they languish for months.
Photo by Barry Yanowitz at
www.BarryY.com
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