Brooklyn is one of the most sought-after neighborhoods in New York City, and it’s easy to see why. From trendy bars and restaurants to stunning parks and waterfront views, Brooklyn has something for everyone. And if you’re in the market for a condo in Brooklyn, you’re in luck! In this blog post, we’ll give you a rundown of the Brooklyn condo market, including the average price per square foot and the number of condo sales in the past year. Additionally, we will showcase some of Brooklyn’s best neighborhoods for condo buyers, including Dumbo, Park Slope, Williamsburg, Brooklyn Heights, Greenpoint, Bed-Stuy, Fort Greene, Gowanus, Carroll Gardens, Clinton Hill, and Prospect Heights.
The Average Cost Per Square Foot For Brooklyn Condos
According to the latest Brooklyn real estate market report by Corcoran, the average cost per square foot for Brooklyn condos was $1,138 in the second quarter of 2022. While this may seem high, it’s important to remember that Brooklyn is a highly desirable neighborhood in New York City, and you’re paying for a location as well as the quality of the condo.
Total Sales of Brooklyn Condos in The Past Year
In the second quarter of 2022, there were 1,054 condo sales in Brooklyn, which is a slight increase from the previous year. While the pandemic did impact the real estate market, it’s clear that buyers are still interested in purchasing condos in Brooklyn.
Top Neighborhoods for Condo Buyers in Brooklyn
Dumbo
Dumbo, which stands for Down Under the Manhattan Bridge Overpass, is a trendy and upscale neighborhood in Brooklyn. With stunning waterfront views and a thriving art scene, Dumbo is a great choice for condo buyers who want to be in the heart of the action.
Park Slope
Park Slope is a family-friendly neighborhood in Brooklyn with beautiful brownstone homes and tree-lined streets. With easy access to Prospect Park and a bustling shopping and dining scene, Park Slope is a great choice for buyers who want a quieter, more residential feel.
Williamsburg
Williamsburg is one of the trendiest neighborhoods in Brooklyn, with a thriving nightlife scene and a wide variety of restaurants and bars. With its convenient location and unique culture, Williamsburg is a great choice for condo buyers who want to be in the center of it all.
Brooklyn Heights
Brooklyn Heights is a historic neighborhood in Brooklyn with beautiful architecture and stunning views of the Manhattan skyline. With its peaceful tree-lined streets and proximity to the Brooklyn Bridge, Brooklyn Heights is a great choice for buyers who want a mix of history and modern amenities.
Greenpoint
Greenpoint is an up-and-coming neighborhood in Brooklyn with a hip and creative vibe. With its charming streets and trendy shops and restaurants, Greenpoint is a great choice for buyers who want to be in a neighborhood that’s on the rise.
Bed Stuy
Bed Stuy is a diverse and vibrant neighborhood in Brooklyn with a strong sense of community. With its beautiful brownstone homes and easy access to transportation, Bed Stuy is a great choice for buyers who want to be in a neighborhood that’s both historic and welcoming.
Fort Greene
Fort Greene is a beautiful and historic neighborhood in Brooklyn with a thriving cultural scene. With its stunning brownstone homes and easy access to Fort Greene Park, Fort Greene is a great choice for buyers who want to be in a neighborhood that’s both beautiful and convenient.
Gowanus
Gowanus is a creative and vibrant neighborhood in Brooklyn with a thriving arts scene. With its eclectic mix of shops, restaurants, and galleries, Gowanus is a great choice for buyers who want to be in a neighborhood that’s both hip and affordable.
Carroll Gardens
Carroll Gardens is a charming and picturesque neighborhood in Brooklyn with beautiful brownstone homes and tree-lined streets. With its cozy cafes and local shops, Carroll Gardens is a great choice for buyers who want a quieter, more residential feel.
Clinton Hill
Clinton Hill is a beautiful and diverse neighborhood in Brooklyn with a thriving arts scene. With its beautiful historic homes and proximity to Pratt Institute, Clinton Hill is a great choice for buyers who want to be in a neighborhood that’s both historic and creative.
Prospect Heights
Prospect Heights is a lively and diverse neighborhood in Brooklyn with a mix of historic and modern architecture. With its proximity to Prospect Park and a wide variety of shops and restaurants, Prospect Heights is a great choice for buyers who want to be in a neighborhood that’s both convenient and vibrant.
Final Thoughts
If you’re in the market for a condo in Brooklyn, there’s no shortage of great neighborhoods to choose from. Whether you’re looking for a trendy and vibrant neighborhood like Williamsburg or a more peaceful and residential neighborhood like Park Slope, there’s a neighborhood in Brooklyn that’s right for you.
While the average cost for Brooklyn condos may seem high, it’s important to remember that you are paying for location, as well as the quality of the condo. And with over 1,000 condo sales in the past year, it’s clear that the demand for condos in Brooklyn is still strong.
So, if you’re ready to make the move to Brooklyn, start your search today and find the perfect condo for you in one of Brooklyn’s many great neighborhoods.
Frequently Asked Questions (FAQ)
Condos often offer a lower cost of entry than traditional homes, as well as a range of amenities like gyms, pools, and security. They can also offer a more maintenance-free lifestyle, as exterior maintenance and landscaping are typically handled by the condo association.
Some key factors to consider when buying a condo in Brooklyn include the neighborhood, the building’s amenities and reputation, the size and layout of the condo, and any additional fees like monthly maintenance or taxes.
The Brooklyn condo market can be highly competitive, with many buyers vying for limited inventory. While navigating this market as a buyer, it is important to have a clear idea of your budget, must-haves, and dealbreakers. It can also be helpful to work with an experienced real estate agent, who knows the market and can help you find properties that meet your criteria. Finally, prepare to act quickly and make competitive offers, as desirable properties can sell quickly.
