$1 million-plus properties make up an increasing portion of the Brooklyn market
By Austin Havens-Bowen |March 5, 2020 - 9:00AM
A greater slice of the Brooklyn market is priced $1 million or higher, according to a new report from Brooklyn MLS.
In a sign of the strength of the Brooklyn market, the market share of listings priced $1 million or higher has grown significantly.
Residential properties priced $1 million or higher now represent more than 37 percent of all listings on the Brooklyn MLS real estate listings portal, 12 percent higher compared to the same time last year.
This market snapshot encompasses both single- and multi-family buildings, says Rich Schulhoff, CEO of Brooklyn MLS, and are predominantly located in Sunset Park, Carroll Gardens, Bay Ridge, Bensonhurst, and Manhattan Beach.
These are not the gentrified neighborhoods with which buyers priced out of Manhattan are typically familiar. So if you’re on the hunt for a place in Brooklyn, you should consider this listings site, especially as the Brooklyn sales market appears poised for a rebound.
There are 873 properties listed for $1 million or more on the site, which captures about 65 percent of all Brooklyn listings, according to a spokesperson for the Brooklyn MLS, which can be accessed by both buyers and renters.
For single-family houses, the top three most expensive listings on Brooklyn MLS are: 151 Beach 146th St., a five-bedroom priced at $7,000,000 in Neponsit; 246 83rd St., a six-bedroom priced at $6,499,000 in Bay Ridge; and 2 Grace Court Alley, a four-bedroom priced at $5,800,000 in Brooklyn Heights.
For multi-family buildings, the top three most expensive listings on Brooklyn MLS are: 5413 7th Ave. a 68-unit building in Sunset Park for $15,500,000; 662 45th St., a two-family building in Sunset Park for $14,880,000; and 1415 67th. St, an eight-family building in Bensonhurst for $7,500,000.
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