Brooklyn Q2 2014

Prospect Park South Red Hook Sheepshead Bay Sunset Park Williamsburg Windsor Terrace The Corcoran Report Bath Beach Bensonhurst Bay Ridge Bedford - Stuyvesant Boerum Hill Brooklyn Heights Bushwick Carroll Gardens Clinton Hill Cobble Hill Crown Heights Ditmas Park DUMBO Vinegar Hill Dyker Heights Flatbush Fort Greene Brooklyn Gowanus Gravesend Greenpoint Greenwood Kensington Lefferts Gardens Midwood Mill Basin Park Slope Prospect Heights Prospect Park South Red Hook Sheepshead Bay Sunset Park Williamsburg Windsor Terrace The Corcoran Report 2nd Quarter 2014 Bath Beach Bensonhurst Bay Ridge Bedford - Stuyvesant Boerum Hill Brooklyn Heights Bushwick Carroll Gardens Clinton Hill Cobble Hill Crown Heights Ditmas Park DUMBO Vinegar Hill Dyker Heights Flatbush Fort Greene Brooklyn A comprehensive analysis of the residential real estate market in Brooklyn.

The Corcoran Report

Page 2

2nd Quarter 2014

Introduction Welcome to the Corcoran Report, our comprehensive quarterly examination of the residential real estate market in Brooklyn. The report examines closed transactions during Second Quarter of 2014 (March 1 through June 30) and compares them to Second Quarter 2013 and First Quarter 2014. Statistics in this report trail actual market conditions by approximately eight to twelve weeks due to the typical lag time between a contract signing and its closing.

Brooklyn sales activity during Second Quarter 2014 improved following a relatively slow First Quarter 2014. However due to persistently low inventory, transactions were still down 16% from the same time last year, the third consecutive quarter of annual sales declines and the largest annual decline in two years.

The competition in the housing market has fueled significant annual and quarterly price gains market wide. The average sale price was $734,000, a 17% increase from last year. Average price per foot increased 20% versus last quarter and 17% versus Second Quarter 2013. The strong price performance was primarily led by the condo market, where both resales and new development sales saw double-digit annual price gains. Half of the submarkets in the borough posted average condo prices exceeding $1,000 per square foot. In fact, this quarter there were more closings over $2,000,000 than any other prior quarter.

Second Quarter 2014 new development sale prices remained strong as continued high demand for extremely limited inventory drove price increases. The average price per foot for new developments surpassed last quarter’s record to reach a high of $881 per square foot, representing a 16% leap from last year. For the previous five quarters, the new development market has seen double-digit annual gains in average price per square foot while simultaneously experiencing double-digit annual declines in transaction numbers.

With fewer apartment listings in the Borough, some transaction activity in Brooklyn shifted to the townhouse market.

Single-family and two- to four-family townhouse sales increased, with particularly robust activity seen in Bedford-Stuyvesant and Crown Heights as buyer demand for townhouses expanded across the borough. Strong sales in prime Brooklyn neighborhoods this quarter pushed single-family townhouse prices upward dramatically. The median price of single family townhouses market-wide rose to $1,953,000 a 45% gain from a year ago and the highest median price seen in six years.

We hope you find this edition of the Corcoran Report useful and informative, and we welcome any questions you may have. For a digital copy of this report and more information on the New York real estate market please visit our website at www.corcoran.com/nyc/Advice.

Sincerely,

Frank Percesepe Senior Regional Vice President, Brooklyn

The following members of the The Corcoran Group made significant contributions to this report: Douglas LaMere I Kathleen Mejia I Ryan Schleis I Joshua Sachs I Brie Train The following members of the PropertyShark team made significant contributions to this report: Matthew Haines I Lavinia Husar I Bodor Kalman I Robert Raiz I Mihai Palermo The Corcoran Report is compiled using market-wide data aggregated by PropertyShark, an independent research firm.

The Corcoran Report

Page 3

2nd Quarter 2014

View all our current market reports at www.corcoran.com/nyc/Advice

Brooklyn Heights Cobble Hill Dumbo Downtown Page 9

Williamsburg Greenpoint Page 8 Fort Greene Clinton Hill Prospect Heights Page 11

Park Slope Gowanus Page 10

Bedford–Stuyvesant Crown Heights Lefferts Gardens Bushwick Page 13

Carroll Gardens Boerum Hill Red Hook Page 12

East Flatbush Marine Park Mill Basin Bergen Beach Gerritsen Beach Greenwood Sunset Park Borough Park Mapleton Midwood Bay Ridge Dyker Heights Bensonhurst Bath Beach Gravesend Sheepshead Bay Sea Gate Coney Island Brighton Beach Manhattan Beach Page 15 Kensington Windsor Terrace Ditmas Park Flatbush Prospect Park South Page 14

Average unit sales per square foot (SF):

PropertyShark.com’s map of Brooklyn plots buildings with sales in the Second Quarter according to their number of sales and average price per square foot.

Above $2,500 SF $2,000 - $2,500 SF $1,500 - $2,000 SF $1,250 - $1,500 SF $1,000 - $1,250 SF $750 - $1,000 SF $500 - $750 SF Below $500 SF No SF Available

Interactive map online at Number of unit sales per building:

Above 20 Units 10 to 20 Units 3 to 9 Units 1 to 2 Units

propertyshark.com/maps

The Brooklyn Sales Report is based on data collected by The Corcoran Group from internal and external resources including the public records of the City of New York. Equal Housing Opportunity. The Corcoran Group is a licensed real estate broker owned and operated by NRT LLC. All information furnished regarding property for sale or rent or regarding financing is from sources deemed reliable, but Corcoran makes no warranty or representation as to the accuracy thereof. All property information is presented subject to errors, omissions, price changes, changed property conditions, and withdrawal of the property from the market, without notice.

The Corcoran Report

Page 4

2nd Quarter 2014

Brooklyn Market-Wide Market-wide average price per square foot reached a new high this quarter, up 17% from a year ago and 20% from First Quarter 2014. Average price rose 17% versus Second Quarter 2013, skewed higher by a larger number of sales over $1,000,000.

Following two consecutive quarters of median prices below $450,000, Second Quarter 2014 grew to reach $525,000, a 2% gain from the same time last year and 17% higher than last quarter.

ALL SALES

Prices – Resale Co-ops, Resale Condos and New Developments Average Sale Price

Median Price

Avg Price per sf

Q2 2014 Change Q1 2014

734K

525K

760

21% 605K

17% 450K

20% 635

Q2 2014 Change Q2 2013

734K

525K

760

17%

2%

17%

627K

515K

650

Market-Wide Historical Median Price Median Sale Price

Average PPSF

$800

$700,000

$700

$600,000

$600

$500,000

$500

$400,000

$400

$300,000

$300

$200,000

$200

$100,000

$100

$0

$0

Average Price Per Square Foot

Median Price

$800,000

The Corcoran Report

Page 5

2nd Quarter 2014

Resale Market-Wide

Average Sale Price

Median Price

Avg Price per sf

Q2 2014 Change Q1 2014

662K

507K

741

24% 536K

25% 406K

32% 563

Q2 2014 Change Q2 2013

662K

507K

741

21%

13%

27%

546K

450K

585

Average Sale Price

Median Price

Avg Price per sf

475K

370K

595

Q2 2014 Change Q1 2014

7% 446K

14% 325K

12% 531

Q2 2014 Change Q2 2013

475K

370K

595

-3%

-5%

9%

491K

390K

544

RESALE CONDOS

RESALE CO-OPS

ALL RESALES

Average and median resale prices showed double-digit annual and quarterly gains, fueled by both strong demand and limited supply. This quarter condo resales primarily drove the large gains, which posted the highest price metrics seen in six years.

The average resale condo price reached $846,000, 20% higher than the previous record price seen in First Quarter 2013.

With more coop sales under $250,000, median and average coop sale price dipped slightly from last year. The average coop sale price per square foot was $595 and was the second highest seen since Third Quarter 2008.

Average Sale Price

Median Price

Avg Price per sf

Q2 2014 Change Q1 2014

846K

686K

801

29% 654K

28% 536K

39% 578

Q2 2014 Change Q2 2013

846K

686K

801

43%

37%

32%

509K

499K

608

New Developments

Market-wide

Very few new developments have been introduced to the Brooklyn market in recent quarters, which is the primary cause of the condo inventory shortage in the Borough. In the last six years, no quarter had fewer new development sales. However, nearly half the new development closings that did take place during Second Quarter 2014 were in Brooklyn Heights, Dumbo, Cobble Hill and Carroll Gardens, which fueled the impressive average sale price of $1,486,000. Average price per foot grew 16%, the eighth consecutive quarter of double-digit year-over-year gains.

Average Sale Price

Median Price

Avg Price per sf

Q2 2014 Change Q1 2014

1.486M

923K

881

56% 955K

6% 875K

5% 841

Q2 2014 Change Q2 2013

1.486M

923K

881

78%

37%

16%

834K

675K

762

The Corcoran Report

Page 6

2nd Quarter 2014

Townhouses Townhouse averages can be skewed each quarter due to the limited number of sales. The average price of a single-family townhouse sale increased from both last quarter and last year due to strong sales in prime Brooklyn neighborhoods. The median sale price of $1.953M was a 45% gain from a year ago and a 10% rise from First Quarter. Activity in the two-to–four family townhome is growing as are prices versus a year ago.

Market-wide

Single-family

Multi-residence

Average Price

Median Price

Average Price

Median Price

Q2 2014 Change Q1 2014

2.447M

1.953M

1.425M

1.130M

9% 2.245M

10% 1.783M

-18% 1.735M

-19% 1.396M

Q2 2014 Change Q2 2013

2.447M

1.953M

1.425M

1.130M

38%

45%

4%

13%

1.775M

1.350M

1.376M

999K

Brooklyn Market-Wide Typical of seasonality, the number of sales increased 10% from First Quarter 2014 and was nearly level with the six-year average number of sales per quarter. Compared to a year ago, sales were down 16%, the largest annual decline since First Quarter 2012.

Sales – Closings - Resale Co-ops, Resale Condos and New Developments Closed Sales

1,700

Average

1,600 1,500 1,400 1,200 1,100 1,000 900 800 700 600 500 400 300 200

2Q14

1Q14

4Q13

3Q13

2Q13

1Q13

4Q12

3Q12

2Q12

1Q12

4Q11

3Q11

2Q11

1Q11

4Q10

3Q10

2Q10

1Q10

4Q09

3Q09

2Q09

1Q09

0

4Q08

100 3Q08

Number of Closed Sales

1,300

The Corcoran Report

Page 7

2nd Quarter 2014

Brooklyn Market-wide Sales by Price Category Market share of sales under $500,000 was the lowest seen in five years, comprising 27% of sales. Simultaneously, market share of sales over $1MM continued to expand and grew to 19% of sales, with 4% of sales over $2MM. Market share of sales between $500,000 and $750,000, grew slightly from last quarter, but was down from a year ago.

Quarter

2Q14

27%

1Q14

20%

19%

20%

34%

2Q13

15%

30% 1Q14 Neighborhood Sales Comparison

17%

20%

8%

10%

20%

30%

30% 13%

26% Under $350K

40%

10%

17%

50%

60%

36%

$350K-$500K

20%

$500K-$750K

1Q13 Neighborhood Sales Comparison

2Q13 Neighborhood Sales Comparison

26%

4%

8%

7% Zone 3

Zone 4

$1M-$2M

Q2 2013

28% 40%

46%

8%

Zone37 Zone

11% 12% Zone48 Zone

54%

12%

Zone 5

Zone 6

Resale Zone 7 CondoZone 8 Resale Co-op

New Development Resale Condo

Resale Condo

2Q13 Property Type Comparison

18%

28%

23%

$2M+

2Q13 Property Type Comparison

28%

23%

Williamsburg/Greenpoint Brooklyn Heights/Cobble Hill/Dumbo/Downtown Park Neighborhood Slope/GowanusSales Comparison 2Q13 Fort Greene/Clinton Hill/Prospect Heights Carroll Gardens/Boerum Hill/Red Hook Bedford–Stuyvesant/Crown Heights/Lefferts Gardens/Bushwick Kensington/Windsor Terrace/Ditmas Park/Flatbush/Prospect Park South 11% South Brooklyn

7%

100%

45%

16% Zone26 Zone

90% 36%

9%

18%

9%

9%

14% Zone15 Zone

24%

7%

9% 10%

6%

Zone 2

20%

80%

Q2 2014

36%

7%

3%

2Q14 Property Type Comparison

2Q14 Property Type Comparison

11%

18%

10%

New developments represented just 9% of total sales this quarter, a decline from its 28% market share a year ago and Resale Condo Resale Co-op New Development the lowest in six years. Resale coops and condos nearly split the Zonebalance 8 Condo 2014, Resaleshifting Co-op New Development of8 sales during SecondResale Quarter slightly Zone 7 Zone from last year.

Q2 2013 9%

2%

48%

9% While other prime submarkets in Brooklyn shrank in market 6% 15% 7% share, South Brooklyn grew by 8% 8% to comprise the largest 7% 14% share in the Borough. This quarter apartment sales in BedfordZone 1 Zone 2 Zone 3 Zone 4 Zone 5 Zone 6 Bushwick Zone 7 Stuyvesant, Crown ZoneHeights, 1 Zone 2Lefferts Zone 3Gardens, Zone 4 and Zone 5 Zone 6 shrank to the lowest market share in the Borough.

18%

$750K-$1M

13%

Property Type Sales45% Comparison

7%

10%

70%

4%

46%

Neighborhood Sales 8%Comparison

Q2 2014

14%

Percent of Sales

11%

2Q14 Neighborhood Sales Comparison

13%

24%

2Q14 Neighborhood Sales Comparison

0%

15%

40%

Resale Co-op

32%

Resale Co-op

New Development

New Developme

The Corcoran Report

Page 8

2nd Quarter 2014

Williamsburg - Greenpoint

CO-OPS

Median and average condo price growth echoed last quarter’s impressive double-digit annual gains. Average sale price surged to $1,084,000, the highest in the submarket in six years. The average condo sale price surpassed $1,000 per square foot for the first time ever. Median price was down 3% from First Quarter 2014, but increased 19% year-over-year. Note that there are a statistically insignificant number of co-op sales in the submarket.

Queens

Q2 2014 Change Q1 2014

n to

ew

N

Median Price

Average Price per SF

305K

305K

493

23% 247K

45% 210K

0% 491

305K

305K

493

-32%

N/A

-26%

450K

N/A

663

Average Sale Price

Median Price

Average Price per SF

Q2 2014 Change Q1 2014

1.084M

925K

1,011

3% 1.051M

-3% 950K

7% 948

Q2 2014 Change Q2 2013

1.084M

925K

1,011

17%

19%

15%

930K

780K

876

CONDOS

East River

k

ee Cr

Q2 2014 Change Q2 2013

Average Sale Price

Number of unit sales per building:

HING

FLUS

Above 20 Units 10 to 20 Units 3 to 9 Units 1 to 2 Units

AVE

Average unit sales per square foot (SF):

Above $2,500 SF $2,000 - $2,500 SF $1,500 - $2,000 SF $1,250 - $1,500 SF $1,000 - $1,250 SF $750 - $1,000 SF $500 - $750 SF Below $500 SF No SF Available

Interactive map online at PropertyShark.com/maps

Single-family

Townhouses

Average Price

Multi-residence Median

Average Price

Median

Q2 2014 Change Q1 2014

N/A

N/A

1.945M

1.760M

N/A N/A

N/A N/A

25% 1.562M

51% 1.163M

Q2 2014 Change Q2 2013

N/A

N/A

1.945M

1.760M

N/A

N/A

17%

15%

N/A

N/A

1.663M

1.525M

The Corcoran Report

Page 9

2nd Quarter 2014

Brooklyn Heights - Cobble Hill - Dumbo - Downtown Condo average sale price reached $1,070 per square foot, which is not only a six-year high for the submarket, but was a record for the entire borough during Second Quarter 2014. The 23% year-over-year gain was primarily driven by several new development sales, which also caused average price to spike to $1.6MM. The average and median co-op sale price rose a significant 26% and 21%, respectively, compared to last year.

CONDOS

Ea st R

iv er

CO-OPS

Manhattan

FLUSHING AVE

Median Price

Average Price per SF

Q2 2014 Change Q1 2014

727K

579K

832

-3% 751K

5% 550K

9% 761

Q2 2014 Change Q2 2013

727K

579K

832

26%

21%

25%

578K

477K

667

Average Sale Price

Median Price

Average Price per SF

Q2 2014 Change Q1 2013

1.641M

1.200M

1,070

61% 1.021M

41% 849K

11% 962

Q2 2014 Change Q2 2013

1.641M

1.200M

1,070

66%

45%

23%

991K

829K

867

NT

RAW ST

FU

LTO N

Number of unit sales per building:

ST

COU RT ST

DEG

IC A VE

HO YT

ATL A

ST

VE HA

US

TB FLA

Average Sale Price

Above 20 Units 10 to 20 Units 3 to 9 Units 1 to 2 Units

Average unit sales per square foot (SF):

Above $2,500 SF $2,000 - $2,500 SF $1,500 - $2,000 SF $1,250 - $1,500 SF $1,000 - $1,250 SF $750 - $1,000 SF $500 - $750 SF Below $500 SF No SF Available

Interactive map online at PropertyShark.com/maps

Townhouses

Single-family

Multi-residence

Average Price

Median

Average Price

Median

Q2 2014 Change Q1 2014

4.721M

3.900M

3.694M

3.175M

27% 3.724M

8% 3.600M

3% 3.581M

13% 2.800M

Q2 2014 Change Q2 2013

4.721M

3.900M

3.694M

3.175M

17%

22%

7%

-18%

4.050M

3.200M

3.438M

3.850M

The Corcoran Report

Page 10

2nd Quarter 2014

Park Slope - Gowanus

HA VE 4T ST

Average Sale Price

Median Price

Average Price per SF

Q2 2014 Change Q1 2014

808K

668K

899

4% 775K

3% 650K

9% 822

Q2 2014 Change Q2 2013

808K

668K

899

10%

5%

12%

736K

637K

802

Average Sale Price

Median Price

Average Price per SF

Q2 2014 Change Q1 2014

1.040M

980K

1,005

-5% 1.099M

-11% 1.098M

8% 933

Q2 2014 Change Q2 2013

1.040M

980K

1,005

18%

34%

15%

878M

730K

871

EC T

PA R

K

W

CONDOS

Go wa n

us

VE HA

Ca n

US

al

B AT

FL

DE GR AW

CO-OPS

A 15% rise in average condo sale price per square foot from Second Quarter 2013 brought the figure to $1,005, the highest in six years.

Median and average condo price posted impressive annual gains, but were down slightly from First Quarter due to a slight uptick in number sales under $1MM. Median co-op price advanced 5% from Second Quarter 2013, which was also a 3% increase from last quarter.

EC T

Number of unit sales per building:

PR OS P

PR OS P

AV E

Above 20 Units 10 to 20 Units 3 to 9 Units 1 to 2 Units

Prospect Park

Average unit sales per square foot (SF):

Above $2,500 SF $2,000 - $2,500 SF $1,500 - $2,000 SF $1,250 - $1,500 SF $1,000 - $1,250 SF $750 - $1,000 SF $500 - $750 SF Below $500 SF No SF Available

Interactive map online at PropertyShark.com/maps

Townhouses

Single-family

Multi-residence

Average Price

Median

Average Price

Median

Q2 2014 Change Q1 2014

2.913M

2.913M

2.260M

2.300M

75% 1.666M

68% 1.737M

-4% 2.348M

19% 1.938M

Q2 2014 Change Q2 2013

2.913M

2.913M

2.260M

2.300M

21%

2%

7%

16%

2.413M

2.850M

2.112M

1.987M

The Corcoran Report

Page 11

2nd Quarter 2014

Fort Greene - Clinton Hill - Prospect Heights

CO-OPS

The average condo sale price per square foot jumped 17% from Second Quarter 2013 to $743 per square foot, fueled by an increase in sales of larger residences. This quarter’s median condo sale price reached a six-year record figure for the submarket. Strong demand for housing in the neighborhood also caused a 16% average price gain in the co-op market relative to Second Quarter 2013.

FLUSHING AVE

CONDOS

RD AVE

BEDFO

Median Price

Q2 2014 Change Q1 2014

602K

515K

710

1% 596K

6% 485K

22% 584

Q2 2014 Change Q2 2013

602K

515K

710

16%

8%

21%

519K

475K

587

Average Sale Price

Median Price

Average Price per SF

910K

787K

743

-5% 958K

6% 740K

0% 742

910K 47%

787K 33%

743 17%

621K

621K

636

Q2 2014 Change Q1 2014 Q2 2014 Change Q2 2013

Average Price per SF

VE HA

US

B AT

FL

Average Sale Price

ATLA N GTO WASHIN

TIC A VE

Number of unit sales per building:

Above 20 Units 10 to 20 Units 3 to 9 Units 1 to 2 Units

N AVE

EAS TER

Townhouses

Above $2,500 SF $2,000 - $2,500 SF $1,500 - $2,000 SF $1,250 - $1,500 SF $1,000 - $1,250 SF $750 - $1,000 SF $500 - $750 SF Below $500 SF No SF Available

Interactive map online at PropertyShark.com/maps

N PK WY

Average unit sales per square foot (SF):

Single-family

Multi-residence

Average Price

Median

Average Price

Median

Q2 2014 Change Q1 2014

1.925M

1.925M

1.722M

1.613M

N/A N/A

N/A N/A

-21% 2.187M

-19% 1.995M

Q2 2014 Change Q2 2013

1.925M

1.925M

1.722M

1.613M

-5%

-5%

-10%

-10%

2.023M

2.023M

1.909M

1.800M

The Corcoran Report

Page 12

2nd Quarter 2014

Carroll Gardens - Boerum Hill - Red Hook

Average Sale Price

Median Price

Average Price per SF

801K

800K

865

13% 708K

13% 705K

7% 808

801K

800K

865

3%

7%

11%

781K

745K

776

Q2 2014 Change Q1 2014 Q2 2014 Change Q2 2014

ATL A

Governors Island

LT ON

ST

VE HA

Above 20 Units 10 to 20 Units 3 to 9 Units 1 to 2 Units

Median Price

Average Price per SF

Q2 2014 Change Q1 2014

1.216M

1.195M

1,032

29% 946K

41% 850K

22% 849

Q2 2014 Change Q2 2013

1.216M

1.195M

1,032

45%

59%

29%

841K

752K

799

CONDOS

Go wa nu s

Average Sale Price

Single-family

Townhouses

Above $2,500 SF $2,000 - $2,500 SF $1,500 - $2,000 SF $1,250 - $1,500 SF $1,000 - $1,250 SF $750 - $1,000 SF $500 - $750 SF Below $500 SF No SF Available

Interactive map online at PropertyShark.com/maps

ST

Ca na l

DE GR AW

4T

HA VE

RAW ST

Average unit sales per square foot (SF):

Number of unit sales per building:

US

COU RT ST

FU

B AT

DEG

IC A VE

FL

BQE

NT

HO YT

ST

Up

pe

rB ay

CO-OPS

The condo market saw the largest gain in average price per square foot in the borough this quarter. An increase of 29% from last year brought the figure to an impressive $1,032 per square foot, a six-year high for the neighborhood. Median price increased 59% yearover-year and was also the highest seen in the submarket in six years. Price gains were more modest in the co-op market, up 3% and 7% year-over-year in average and median price, respectively.

Multi-residence

Average Price

Median

Average Price

Median

Q2 2014 Change Q1 2014

2.898M

3.230M

2.139M

1.988M

-22% 3.738M

-14% 3.738M

-12% 2.434M

-22% 2.550M

Q2 2014 Change Q2 2013

2.898M

3.230M

2.139M

1.988M

37%

57%

-11%

-23%

2.119M

2.053M

2.414M

2.588M

The Corcoran Report

Page 13

2nd Quarter 2014

Bedford–Stuyvesant - Crown Heights - Lefferts Gardens - Bushwick The 20% year-over-year increase in average condo sale price per square foot brought the figure to $506, the largest annual gain seen in the submarket in over three years. Average condo sale price saw an increase of 7% compared to last year, but was down compared to last quarter. Co-op median price experienced double-digit annual and quarterly gains, yet average co-op price was down from a year ago.

RE SS

AVE HING FLUS

CO-OPS

Queens

CY P

AV E

W YC KO F

F

AV E

Q2 2014 Change Q1 2014 Q2 2014 Change Q2 2013

Average Sale Price

Median Price

Average Price per SF

262K

264K

304

5% 250K

16% 228K

2% 297

262K

264K

304

-7%

35%

9%

281K

195K

280

BEDFO RD AV

Number of unit sales per building:

E

Cemetery of the Evergreens

Above 20 Units 10 to 20 Units 3 to 9 Units 1 to 2 Units

ATLA N

Above $2,500 SF $2,000 - $2,500 SF $1,500 - $2,000 SF $1,250 - $1,500 SF $1,000 - $1,250 SF $750 - $1,000 SF $500 - $750 SF Below $500 SF No SF Available

Interactive map online at PropertyShark.com/maps

N

TO WASHING AVE

TIC A VE

Average unit sales per square foot (SF):

E AV

NOSTRAND AVE

CONDOS

E

W NE

RK YO

EMPIRE BLVD

E

PARKSIDE AV

Q2 2014 Change Q1 2014 Q2 2014 Change Q2 2013

Average Sale Price

Median Price

463K

450K

506

-16% 548K

-10% 499K

25% 404

463K

450K

506

7%

4%

20%

431K

444K

420

Townhouses

Single-family

Average Price per SF

Multi-residence

Average Price

Median

Average Price

Median

Q2 2014 Change Q1 2014

1.059M

1.250M

967K

950K

-7% 1.138M

10% 1.138M

-10% 1.074M

2% 935K

Q2 2014 Change Q2 2013

1.059M

1.250M

967K

950K

6%

37%

12%

19%

1.003M

912K

862K

799K

The Corcoran Report

Page 14

2nd Quarter 2014

Kensington - Windsor Terrace - Ditmas Park - Flatbush - Prospect Park South

CO-OPS

EC T

T EC

PR OS P

Prospect Park

P OS PR

PA RK

W

Unlike other submarkets, median and average price in the condo market were down both year-over-year and quarter-over-quarter due to an uptick in sales of one bedroom residences. Co-op sale price increased significantly, experiencing double-digit gains from last quarter and last year. Not typically seen in the for-sale apartment market, this quarter median price for co-ops was actually greater than condo median sale price.

R PA

E

K

PARKSIDE AV

SW E SID RK

E AV

Average Price per SF

381K

350K

405

30% 294K

26% 277K

14% 355

381K

350K

405

18%

25%

13%

323K

280K

358

Average Sale Price

Median Price

Average Price per SF

Q2 2014 Change Q2 2013

Q2 2014 Change Q1 2014 Q2 2014 Change Q2 2013

359K

330K

450

-26% 488K

-38% 533K

-16% 534

359K

330K

450

-13%

-20%

0%

413K

410K

451

L MCDONA

D AVE

E NOSTRAND AV

CONDOS

Median Price

Q2 2014 Change Q1 2014

PA

Greenwood Cemetery

Average Sale Price

Number of unit sales per building:

D AVE

E AV

ISLAN CONEY

ER

ST FO

E AVENU

I

Above 20 Units 10 to 20 Units 3 to 9 Units 1 to 2 Units

Above $2,500 SF $2,000 - $2,500 SF $1,500 - $2,000 SF $1,250 - $1,500 SF $1,000 - $1,250 SF $750 - $1,000 SF $500 - $750 SF Below $500 SF No SF Available

Interactive map online at PropertyShark.com/maps

Single-family Average Price

Townhouses

Average unit sales per square foot (SF):

Multi-residence Median

Average Price

Median

Q2 2014 Change Q1 2014

2.100M

N/A

1.042M

1.200M

N/A N/A

N/A N/A

-25% 1.396M

N/A N/A

Q2 2014 Change Q2 2013

2.100M

N/A

1.042M

1.200M

104%

N/A

-22%

-14%

1.029M

895K

1.329M

1.400M

The Corcoran Report

Page 15

2nd Quarter 2014

South Brooklyn East Flatbush Marine Park Mill Basin Bergen Beach Gerritsen Beach Greenwood Sunset Park Borough Park Mapleton Midwood Bay Ridge Dyker Heights Bensonhurst Bath Beach Gravesend Sheepshead Bay Sea Gate Coney Island Brighton Beach Manhattan Beach

Average and median condo sale price in southern Brooklyn experienced over 40% year-over-year gains during Second Quarter 2014.

The average price per square foot in the condo market grew by 20% versus Second Quarter 2013, and was also up 11% from last quarter.

Average and median price in the co-op market declined versus a year ago, partially due to a surge in number of sales under $250,000.

Average unit sales per square foot (SF):

EW

39 T

Upper Bay

H

EMPIRE BLVD

ST

RK YO

E AV

EN

Number of unit sales per building:

NOSTRAND AVE

I

CO-OPS

LD AVE

MCDONA

AVENUE

Gateway National Recreation Area

Q2 2014 Change Q1 2014 Q2 2014 Change Q2 2013

CONDOS

Lower Bay

Average Sale Price

Median Price

237K

220K

271

3% 231K

3% 213K

-11% 305

Townhouses

Average Price per SF

237K

220K

271

-20%

-29%

362K

275K

381

Average Sale Price

Median Price

Average Price per SF

Q2 2014 Change Q1 2014

485K

428K

453

16% 418K

5% 406K

11% 409

Q2 2014 Change Q2 2013

485K

428K

453

49%

44%

20%

326K

296K

378

Single-family Average Price

Above 20 Units 10 to 20 Units 3 to 9 Units 1 to 2 Units

-35%

Gravesend Bay

Interactive map online at PropertyShark.com/maps

Above $2,500 SF $2,000 - $2,500 SF $1,500 - $2,000 SF $1,250 - $1,500 SF $1,000 - $1,250 SF $750 - $1,000 SF $500 - $750 SF Below $500 SF No SF Available

Multi-residence Median

Average Price

Median

Q2 2014 Change Q1 2014

849K

782K

757K

740K

75% 484K

127% 345K

-4% 790K

-12% 843K

Q2 2014 Change Q2 2013

849K

782K

757K

740K

13%

-10%

17%

24%

753K

869K

648K

599K