Buyers willing to pay premium for Brooklyn luxury

  • With an average sales price of $795,409 (up 6.2 percent from last year) Brooklyn isn’t so cheap anymore.
  • Total pending sales in Brooklyn's luxury price tier went from a 20.1 percent share of the market to 22.3 percent year-over-year.
  • In Q1, Brooklyn had 192 total sales in the luxury market, compared to 154 in the first quarter last year.

The premier event for luxury agents and brokers
Luxury Connect | Oct. 16-18 | Beverly Hills

Brooklyn and luxury didn’t quite go together 10 years ago. An eclectic mix of less expensive apartments — many loft-style — and a trendier, laid back scene attracted some Manhattanites to make the switch before the borough became the trendy hotspot it is today.