North Brooklyn property prices sinking, report says

Report shows general increases in borough but prices in North Brooklyn diving
  • North Brooklyn co-ops and condos held an average price of $1,002,071 in the first quarter of 2015, only to fall to $920,754 in the first quarter of 2016.
  • Apartment prices -- condos and co-ops included -- increased 5 percent from a year ago throughout Brooklyn.
  • For single-family townhomes, average and median prices rose since last year.
  • Average prices on all apartments in Central Brooklyn declined by 6 percent to reach $580,629.

Brooklyn residential prices had another unwavering quarter overall, with prices showcasing strong increases on an annual analysis from Brown Harris Steven’s first quarter Brooklyn market report. However, a closer look reveals co-ops and condos dropping in North Brooklyn — comprising popular neighborhoods Williamsburg and Greenpoint.