Engel & Volkers Brownstone Brooklyn 1Q19 Market Report

1Q19

BROWNSTONE BROOKLYN MARKET REPORT

Brownstone Brooklyn Market Report 1Q19 Overview Our report indicates that townhouses in Brownstone Brooklyn are trading just below the average sales price established a year ago and the average sales price for condominiums is 6.7% above the average sales price established in the 1Q18. While the overall volume of townhouse transactions has increased year over year the gross transaction volume and number of sales of condominiums has decreased dramatically.

Townhouses Over $290MM worth of 1- to 4-family townhouses traded hands in 1Q19, versus $263MM during 1Q18, an increase of $27MM, or 10.1%. However, while transaction volume increased the average sales price decreased by 5.9% to $2,477,000, approximately. Park Slope took the top spot in our ranking of highest priced transactions on a gross sales price basis at $4.8MM. A rather unique home in Boerum Hill claimed the top spot on dollar per square foot basis at $4,107. Notable transactions appear on page 9 of this report.

Condominiums Approximately $234MM worth of condominiums sold in 1Q19, versus $362MM during 1Q18, a decrease of $129MM, or 35.5%. While the number of transactions dropped 39.5%, year over year average price per square foot edged up by 1.5% to $1,200 and average sales price increased 6.7%. A transaction at the Standish in Brooklyn Heights was the most expensive deal on both a gross sales price and dollar per square foot basis, $16.7MM and $2,693, respectively. Other notable condominium transactions appear on page 9 of this report.

If you are interested in receiving a complimentary opinion of value for your property, please don’t hesitate to contact me directly. Sincerely,

Donald P. Brennan, Jr. License Partner | Real Estate Broker Engel & Völkers Brownstone Brooklyn Brennan Realty Services, LLC 45 Main Street, Suite 1022 Brooklyn, NY 11201 Email: donald.brennan@evrealestate.com Cell: (917) 568-6525 Web: brownstonebrooklyn.evrealestate.com

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1Q 2019 Market Report | 4

BROWNSTONE BROOKLYN Townhouse Summary The townhouse market saw an increase in

1 to 4 Family Townhouses

transactions compared to last quarter with 117 sales. Average sales price decreased during the quarter and on the year. PPSF increased by ~4% both on the quarter and on the year. The four-quarter trailing average is $959 PSF and over $2.6MM gross.

Average Sales Price Average Price Per Sq Ft Median Sales Price

3.57% AVERAGE PPSF INCREASE YEAR OVER YEAR

(in Millions)

Number of Sales

1Q19

%∆ (Qtr)

4Q19

%∆ (Yr)

1Q18

$2,476,898

-4.42%

$2,591,531

-5.92%

$2,632,690

$950

3.85%

$915

3.57%

$917

$2,530,000

5.42%

$2,400,000

4.89%

$2,412,000

117

105

100

$20.0

$2500 $2,500

$16.0

$2,000 $2000

$12.0

$1,500 $1500

$8.0

$1,000 $1000

$4.0

$500 $500

$0.0

2016 20164Q2017 20171Q2017 20172Q2017 20173Q2017 20174Q2018 20181Q2018 20182Q2018 20183Q2018 20184Q2019 20191Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

PPSF PRICE

$0

Condo Summary The condo market saw another large decrease

Condominium Units

in transactions, with 147. This is a reduction

1Q19

%∆ (Qtr)

4Q19

%∆ (Yr)

1Q18

$1,591,087

26.06%

$1,262,138

6.66%

$1,491,675

$1,201

11.43%

$1,078

1.46%

$1,184

$1,325,000

37.86%

$961,124

13.73%

$1,165,000

of almost 100 transactions year-over-year.

Average sales price increased notably on the

Average Sales Price

quarter and over last year. PPSF increased on

Average Price Per Sq Ft

the quarter, but is mostly level on the year.

Median Sales Price

PSF and under $1.5MM gross.

Number of Sales

6.66% AVERAGE SALES PRICE INCREASE YEAR OVER YEAR

(in Millions)

The four-quarter trailing average is $1,167

147

192

243

$20 $20.0

$2000 $2,000

$16.0 $16

$1,600 $1600

$12.0 $12

$1,200 $1200

$8.0 $8

$800

$4.0 $4

$400

$0.0 $0

2016 20164Q2017 20171Q2017 20172Q2017 20173Q2017 20174Q2018 20181Q2018 20182Q2018 20183Q2018 20184Q2019 20191Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

PPSF PRICE

$0$0

All materials presented herein are prepared by Brennan Realty Services LLC, and are intended for informational purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. Property information was gathered through StreetEasyTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.

1Q 2019 Market Report | 5

BROOKLYN HEIGHTS Townhouse Summary The first quarter saw only one townhouse

1 to 4 Family Townhouses

transaction in Brooklyn Heights. While the price of this transaction was well below recent comparables, it is only one data point. The four-quarter trailing average is $1,694 PSF and just over $6.65MM gross.

Average Sales Price Average Price Per Sq Ft Median Sales Price Number of Sales

AVERAGE PPSF OVER TRAILING FOUR QUARTERS

%∆ (Qtr)

4Q19

%∆ (Yr)

1Q18

$2,530,000

-64.91%

$7,210,000

-25.34%

$3,388,500

$917

-40.50%

$1,541

-14.29%

$1,070

$2,530,000

-64.37%

$7,100,000

-25.34%

$3,388,500

1

5

2

$15.0 $15.0

$2500 $2,500

$12.0 $12.0

$2,000 $2000

$9.0 $9.0

$1,500 $1500

$6.0 $6.0

$1,000 $1000

(in Millions)

$1,694

1Q19

$3.0 $3.0 $0.0 $0.0

PPSF PRICE

$500 2016 20164Q2017 20171Q2017 20172Q2017 20173Q2017 20174Q2018 20181Q2018 20182Q2018 20183Q2018 20184Q2019 20191Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

$0 $0

Condo Summary The first quarter saw a noticeable decrease

Condominium Units

in transaction volume over the previous year.

1Q19

%∆ (Qtr)

4Q19

%∆ (Yr)

1Q18

$5,154,674

104.23%

$2,523,949

119.71%

$2,346,133

$1,476

15.29%

$1,281

-5.35%

$1,560

$3,683,960

119.08%

$1,681,563

101.56%

$1,827,759

Due in part to the strength of the limited number of transactions, average sales price

Average Sales Price

doubled from the previous quarter and on the

Average Price Per Sq Ft

year. PPSF saw increases on the quarter but is

Median Sales Price

average is $1,476 PSF and over $3.3MM gross.

Number of Sales

119.71% AVERAGE SALES PRICE INCREASE YEAR OVER YEAR

(in Millions)

down on the year. The four-quarter trailing

6

14

27

$20 $20.0

$2000 $2,000

$16.0 $16

$1,600 $1600

$12.0 $12

$1,200 $1200

$8.0 $8

$800 $800

$4.0 $4

$400 $400

$0.0 $0

2016 20164Q2017 20171Q2017 20172Q2017 20173Q2017 20174Q2018 20181Q2018 20182Q2018 20183Q2018 20184Q2019 20191Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

PPSF PRICE

$0 $0

All materials presented herein are prepared by Brennan Realty Services LLC, and are intended for informational purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. Property information was gathered through StreetEasyTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.

1Q 2019 Market Report | 6

COBBLE HILL Townhouse Summary Transaction volume was down in Cobble Hill

1 to 4 Family Townhouses

this quarter. The average sales price increased notably on the quarter but is mostly level on the year at $3.5MM. PPSF was level on the quarter, at $1,200. The four-quarter trailing average is $1,323 PSF and $3.76MM gross.

Average Sales Price Average Price Per Sq Ft Median Sales Price

15.05% AVERAGE PPSF INCREASE QUARTER OVER QUARTER

(in Millions)

Number of Sales

1Q19

%∆ (Qtr)

4Q19

%∆ (Yr)

1Q18

$3,491,667

15.05%

$3,035,000

-1.42%

$3,542,111

$1,213

-0.65%

$1,221

-9.70%

$1,343

$3,500,000

29.63%

$2,700,000

0.00%

$3,500,000

3

7

9

$7.5

$2500 $2,500

$6.0

$2000 $2,000

$4.5

$1500 $1,500

$.30 $3.0

$1000 $1,000

$1.5

$500 $500

$0.0

2016 20164Q2017 20171Q2017 20172Q2017 20173Q2017 20174Q2018 20181Q2018 20182Q2018 20183Q2018 20184Q2019 20191Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

PPSF PRICE

$0

Condo Summary The first quarter saw only six transactions.

Condominium Units

Average sales price increased significantly for the quarter and over the previous year.

PPSF was also up on both periods but more modestly. The four-quarter trailing average is $1,181 PSF and just below $1.0MM gross.

Average Sales Price Average Price Per Sq Ft Median Sales Price

12.22% AVERAGE PPSF INCREASE YEAR OVER YEAR

(in Millions)

Number of Sales

1Q19

%∆ (Qtr)

4Q19

%∆ (Yr)

1Q18

$1,256,667

49.10%

$842,857

12.22%

$1,119,835

$1,225

2.77%

$1,192

5.73%

$1,159

$1,000,000

16.28%

$860,000

7.82%

$927,500

6

7

12

$5.0

$2000 $2,000

$4.0

$1,600 $1600

$3.0

$1,200 $1200

$2.0

$800

$1.0

$400

$0.0

2016 20164Q2017 20171Q2017 20172Q2017 20173Q2017 20174Q2018 20181Q2018 20182Q2018 20183Q2018 20184Q2019 20191Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

PPSF PRICE

$0 $0

All materials presented herein are prepared by Brennan Realty Services LLC, and are intended for informational purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. Property information was gathered through StreetEasyTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.

1Q 2019 Market Report | 7

CARROLL GARDENS Townhouse Summary Carroll Gardens saw a huge increase in

1 to 4 Family Townhouses

transactions to 20. Average sales price and PPSF are mostly unchanged on the quarter but down significantly on the all time highs from last year. The four-quarter trailing average is $1,076 PSF and just under $3.0MM gross.

Average Sales Price Average Price Per Sq Ft Median Sales Price

$1,029 AVERAGE PPSF THIS QUARTER

(in Millions)

Number of Sales

1Q19

%∆ (Qtr)

4Q19

%∆ (Yr)

1Q18

$2,832,755

-2.81%

$2,914,545

-29.33%

$4,008,400

$1,029

0.51%

$1,024

-16.89%

$1,238

$2,847,500

9.52%

$2,600,000

-11.02%

$3,200,000

20

11

7

$10.0

$2500 $2,500

$8.0

$2,000 $2000

$6.0

$1,500 $1500

$4.0

$1,000 $1000

$2.0

$500

$0.0

2016 20164Q2017 20171Q2017 20172Q2017 20173Q2017 20174Q2018 20181Q2018 20182Q2018 20183Q2018 20184Q2019 20191Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

PPSF PRICE

$0

Condo Summary Ten condo transactions closed in Carroll

Condominium Units

Gardens during the quarter. The average sales

1Q19

%∆ (Qtr)

4Q19

%∆ (Yr)

1Q18

$1,718,500

2.44%

$1,677,500

8.08%

$1,589,991

$1,201

6.52%

$1,128

9.30%

$1,099

$1,325,000

-21.01%

$1,677,500

-13.11%

$1,525,000

price increased for the quarter by 2.5%, and 8.1% on the year. Average PPSF increased to

Average Sales Price

$1,201. The four-quarter trailing average is

Average Price Per Sq Ft

$1,174 PSF and over $1.7MM gross.

Median Sales Price

$1.75MM AVERAGE SALES PRICE OVER TRAILING FOUR QUARTERS

(in Millions)

Number of Sales

10

2

4

$5.0 $5.0

$2000 $2,000

$4.0 $4.0

$1,600 $1600

$3.0 $3.0

$1,200 $1200

$2.0 $2.0

$800

$1.0 $1.0

$400

$0.0 $0.0

2016 20164Q2017 20171Q2017 20172Q2017 20173Q2017 20174Q2018 20181Q2018 20182Q2018 20183Q2018 20184Q2019 20191Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

PPSF PRICE

$0 $0

All materials presented herein are prepared by Brennan Realty Services LLC, and are intended for informational purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. Property information was gathered through StreetEasyTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.

1Q 2019 Market Report | 8

COLUMBIA STREET WATERFRONT DISTRICT Townhouse Summary There were no townhouse transactions in

1 to 4 Family Townhouses

the Columbia Street Waterfront District

1Q19

%∆ (Qtr)

4Q19

%∆ (Yr)

1Q18

Average Sales Price

-

-

$2,485,000

-

$2,150,000

Average Price Per Sq Ft

-

-

$1,115

-

$543

Median Sales Price

-

-

$2,485,000

-

$2,150,000

Number of Sales

-

0 TOWNHOUSE TRANSACTIONS

(in Millions)

this quarter.

2

1

$5.0

$2500 $2,500

$4.0

$2,000 $2000

$3.0

$1,500 $1500

$2.0

$1,000 $1000

$1.0

$500

$0.0

2016 20164Q2017 20171Q2017 20172Q2017 20173Q2017 20174Q2018 20181Q2018 20182Q2018 20183Q2018 20184Q2019 20191Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

PPSF PRICE

$0

Condo Summary Columbia St Waterfront District saw seven

Condominium Units

condo transactions this quarter. Average

1Q19

%∆ (Qtr)

4Q19

%∆ (Yr)

1Q18

$1,224,000

-14.27%

$1,427,667

9.09%

$1,122,000

$1,164

-2.44%

$1,193

7.76%

$1,080

$1,405,000

6.60%

$1,318,000

17.82%

$1,192,500

sales price decreased 14% on the quarter, but is up 9% on the year. PPSF was down

Average Sales Price

modestly on the quarter, but saw similar

Average Price Per Sq Ft

year over year growth. The four-quarter

Median Sales Price

$1.1MM gross.

Number of Sales

9.09% AVERAGE SALES PRICE INCREASE YEAR OVER YEAR

(in Millions)

trailing average is $1,092 PSF and just above

7

6

4

$3.75 $3.75

$2000 $2,000

$3.00

$1,600 $1600

$2.25 $2.25

$1,200 $1200

$1.50 $1.50

$800

$0.75 $0.75

$400

$0.00 $0.00

2016 20164Q2017 20171Q2017 20172Q2017 20173Q2017 20174Q2018 20181Q2018 20182Q2018 20183Q2018 20184Q2019 20191Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

PPSF PRICE

$0

All materials presented herein are prepared by Brennan Realty Services LLC, and are intended for informational purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. Property information was gathered through StreetEasyTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.

1Q 2019 Market Report | 9

BOERUM HILL Townhouse Summary There were six townhouse transactions in

1 to 4 Family Townhouses

Boerum Hill during the quarter. Average sales price decreased again this quarter, and is down significantly on the year. PPSF, however, continues to climb. The fourquarter trailing average is $1,227 PSF and just over $3.2MM gross.

Average Sales Price Average Price Per Sq Ft Median Sales Price Number of Sales

AVERAGE PPSF INCREASE QUARTER OVER QUARTER

%∆ (Qtr)

4Q19

%∆ (Yr)

1Q18

$2,803,083

-7.53%

$3,031,250

-40.12%

$4,681,250

$1,385

5.90%

$1,308

2.58%

$1,351

$3,085,000

13.73%

$2,712,500

-18.01%

$3,762,500

6

4

4

$10.0 $10.0

$2500 $2,500

$8.0 $8.0

$2,000 $2000

$6.0 $6.0

$1,500 $1500

$4.0 $4.0

$1,000 $1000

$2.0 $2.0

$500

(in Millions)

5.90%

1Q19

$0.0 $0.0

2016 20164Q2017 20171Q2017 20172Q2017 20173Q2017 20174Q2018 20181Q2018 20182Q2018 20183Q2018 20184Q2019 20191Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

PPSF PRICE

$0

Condo Summary The volume of Boerum Hill condo sales

Condominium Units

increased this quarter to seven transactions.

1Q19

%∆ (Qtr)

4Q19

%∆ (Yr)

1Q18

$1,478,167

8.72%

$1,359,667

-29.17%

$2,086,914

$1,222

-6.42%

$1,306

6.92%

$1,143

$1,180,000

76.38%

$669,000

1.29%

$1,165,000

The average sales price increased during the quarter by 2.5% while PPSF decreased

Average Sales Price

by over 6%. On the year, however, PPSF

Average Price Per Sq Ft

increased by more that 6%. The four-quarter

Median Sales Price

$1.6MM gross.

Number of Sales

6.92% AVERAGE PPSF INCREASE YEAR OVER YEAR

(in Millions)

trailing average is $1,255 PSF and just under

7

3

11

$7.5

$2000 $2,000

$6.0

$1,600 $1600

$4.5

$1,200 $1200

$3.0

$800 $800

$1.5

$400

$0.0 $0.0

2016 20164Q2017 20171Q2017 20172Q2017 20173Q2017 20174Q2018 20181Q2018 20182Q2018 20183Q2018 20184Q2019 20191Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

PPSF PRICE

$0

All materials presented herein are prepared by Brennan Realty Services LLC, and are intended for informational purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. Property information was gathered through StreetEasyTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.

1Q 2019 Market Report | 10

Townhouse Market Neighborhood Overview Average Price Per Sq Ft

Average Sales Price

Average SF

Total # of Properties

Gross Transaction Volume

# of Transactions

% of Total Transactions

Boerum Hill

$1,385

$2,803,083

2,957

794

16,818,500

6

5.17%

Cobble Hill

$1,213

$3,491,667

2,883

956

10,475,000

3

2.59%

Park Slope

$1,067

$2,723,031

2,739

3,627

87,137,000

32

27.59%

Carroll Gardens

$1,029

$2,832,755

2,785

1,423

56,655,103

20

17.24%

Clinton Hill

$953

$2,725,688

2,882

1,328

21,805,500

8

6.90%

Prospect Heights

$951

$2,572,500

2,791

910

20,580,000

8

6.90%

Brooklyn Heights

$917

$2,530,000

2,760

497

2,530,000

1

0.86%

Fort Greene

$865

$2,321,111

2,782

1,236

20,890,000

9

7.76%

Gowanus

$817

$2,071,250

2,580

964

16,570,000

8

6.90%

Bedford-Stuyvesant (W)

$624

$1,625,524

2,632

3,972

34,135,999

21

18.10%

Columbia Water District

-

-

-

190

-

0

0.00%

DUMBO

-

-

-

4

-

0

0.00%

$950

$2,476,898

2,746

15,901

287,597,102

116

100.00%

Market

ALL

Condominium Market Neighborhood Overview Average Price Per Sq Ft

Average Sales Price

Average SF

Total # of Properties

Gross Transaction Volume

# of Transactions

% of Total Transactions

Brooklyn Heights

$1,476

$5,154,674

3,151

890

30,928,041

6

4.08%

DUMBO

$1,395

$2,267,709

1,535

1,197

38,551,059

17

11.56%

Prospect Heights

$1,278

$1,413,280

1,114

1,367

28,265,596

20

13.61%

Gowanus

$1,233

$1,630,464

1,405

557

8,152,319

5

3.40%

Cobble Hill

$1,225

$1,256,667

994

541

7,540,000

6

4.08%

Boerum Hill

$1,222

$1,478,167

1,193

827

10,347,170

7

4.76%

Fort Greene

$1,211

$1,309,917

1,088

848

15,719,000

12

8.16%

Carroll Gardens

$1,201

$1,718,500

1,371

659

17,185,000

10

6.80%

Columbia Water District

$1,164

$1,224,000

1,036

691

8,568,000

7

4.76%

Park Slope

$1,146

$1,317,532

1,130

2,733

48,748,685

37

25.17%

Clinton Hill

$1,032

$1,120,307

1,086

942

14,563,988

13

8.84%

$842

$760,143

1,012

2,575

5,321,000

7

4.76%

$1,201

$1,591,087

1,250

13,827

233,889,858

147

100.00%

Market

Bedford-Stuyvesant (W) ALL

All materials presented herein are prepared by Brennan Realty Services LLC, and are intended for informational purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. Property information was gathered through StreetEasyTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.

1Q 2019 Market Report | 11

Top 5 Townhouse Sales By Sales Price Rank

Address

Neighborhood

Sales Price

Square Feet

$PSF

1

30 8 Ave

Park Slope

$4,800,000

1,384

$1,200

2

1 John St #5B

Dumbo

$4,750,000

2,495

$1,904

3

77 Second Pl

Carroll Gardens

$4,410,000

4,256

$1,036

4

194 St Johns Pl

Park Slope

$4,300,000

4,296

$1,001

5

371 Clinton St

Park Slope

$4,250,000

960

$1,250

Top 5 Townhouse Sales By Price Per Square Foot Rank

Address

Neighborhood

Sales Price

Square Feet

$PSF

1

139 Bond St

BOERUM HILL

$2,300,000

560

$4,107

2

153 16th St

PARK SLOPE

$1,070,000

585

$1,829

3

151 President St

CARROLL GARDENS

$2,950,000

1,785

$1,653

4

666 Degraw St

PARK SLOPE

$3,200,000

1,959

$1,633

5

3 Webster Pl

PARK SLOPE

$1,570,000

964

$1,629

Top 5 Condominium Sales By Sales Price Rank

Address

Neighborhood

Sales Price

Square Feet

$PSF

1

167 Columbia Hts #PH

Brooklyn Heights

$16,745,122

6,218

$2,693

2

200 Water St #Pha

Dumbo

$5,088,559

2,835

$1,795

3

319 4 St

Park Slope

$4,700,000

4,149

$1,133

4

229 Dean St

Boerum Hill

$4,450,000

3,780

$1,177

5

90 Furman St #N-212

Boerum Hill

$4,327,919

3,081

$1,405

Top 5 Condominium Sales By Price Per Square Foot Rank

Address

Neighborhood

Sales Price

Square Feet

$PSF

1

167 Columbia Hts #PH

Brooklyn Heights

$16,745,122

6,218

$2,693

2

70 Washington St #PHN

Dumbo

$1,995,000

1,008

$1,979

3

200 Water St #PHB

Dumbo

$3,600,000

1,871

$1,924

4

1 Main St #11J

Dumbo

$3,700,000

2,005

$1,845

5

200 Water St #Pha

Dumbo

$5,088,559

2,835

$1,795

All materials presented herein are prepared by Brennan Realty Services LLC, and are intended for informational purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. Property information was gathered through StreetEasyTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.

1Q 2019 Market Report | 12

GOWANUS Townhouse Summary Gowanus saw eight transactions during

1 to 4 Family Townhouses

the quarter. Average sales price held steady on the quarter, but increased by 6.35% on the year. PPSF was down notably for both periods. The four-quarter trailing average is $974 PSF and just under $2.3MM gross.

Average Sales Price Average Price Per Sq Ft Median Sales Price

$2.3MM AVERAGE SALES PRICE OVER TRAILING FOUR QUARTERS

(in Millions)

Number of Sales

1Q19

%∆ (Qtr)

4Q19

%∆ (Yr)

1Q18

$2,071,250

0.69%

$2,057,143

6.35%

$1,947,555

$817

-11.59%

$924

-14.76%

$958

$1,950,000

6.56%

$1,830,000

0.65%

$1,937,500

8

7

6

$5.0

$2,500

$4.0

$2,000

$3.0

$1,500

$2.0

$1,000

$1.0

$500

$0.0

2016 20164Q2017 20171Q2017 20172Q2017 20173Q2017 20174Q2018 20181Q2018 20182Q2018 20183Q2018 20184Q2019 20191Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

PPSF PRICE

$0

Condo Summary Gowanus saw a steady five condo

Condominium Units

transactions this quarter. Average sales price

1Q19

%∆ (Qtr)

4Q19

%∆ (Yr)

1Q18

$1,630,464

-10.14%

$1,814,540

25.59%

$1,298,247

$1,233

-6.70%

$1,322

-0.36%

$1,238

$1,362,319

-11.62%

$1,541,370

27.92%

$1,064,950

decreased from the previous quarter’s spike, but is up notably on the year. PPSF decreased

Average Sales Price

on the quarter as well, but is level on the

Average Price Per Sq Ft

year. The four-quarter trailing average is $1,254 PSF and over $1.5MM gross.

Median Sales Price

25.59% AVERAGE SALES PRICE INCREASE YEAR OVER YEAR

(in Millions)

Number of Sales

5

6

6

$5.0

$2000 $2,000

$4.0

$1,600 $1600

$3.0

$1,200 $1200

$2.0

$800

$1.0

$400

$0.0

2016 20164Q2017 20171Q2017 20172Q2017 20173Q2017 20174Q2018 20181Q2018 20182Q2018 20183Q2018 20184Q2019 20191Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

PPSF PRICE

$0

All materials presented herein are prepared by Brennan Realty Services LLC, and are intended for informational purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. Property information was gathered through StreetEasyTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.

1Q 2019 Market Report | 13

FORT GREENE Townhouse Summary Fort Greene saw increased transaction

1 to 4 Family Townhouses

volume this quarter, with nine. Average sales price was down significantly on the quarter, but up on the year. PPSF, however, was down for both periods to $865. The four-quarter trailing average dropped just below $1,000 PSF and just under $3.0MM gross.

Average Sales Price Average Price Per Sq Ft Median Sales Price

13.20% AVERAGE SALES PRICE INCREASE YEAR OVER YEAR

(in Millions)

Number of Sales

1Q19

%∆ (Qtr)

4Q19

%∆ (Yr)

1Q18

$2,321,111

-35.25%

$3,585,000

13.20%

$2,050,505

$865

-25.14%

$1,156

-24.29%

$1,143

$2,500,000

-24.24%

$3,300,000

21.92%

$2,050,505

9

5

2

$7.5 $7.5

$2500 $2,500

$6.0 $6.0

$2,000 $2000

$4.5 $4.5

$1,500 $1500

$3.0 $3.0

$1,000 $1000

$1.5

$500 $500

$0.0

2016 20164Q2017 20171Q2017 20172Q2017 20173Q2017 20174Q2018 20181Q2018 20182Q2018 20183Q2018 20184Q2019 20191Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

PPSF PRICE

$0

Condo Summary Fort Greene saw 12 condo transactions for

Condominium Units

the second consecutive quarter. Average

1Q19

%∆ (Qtr)

4Q19

%∆ (Yr)

1Q18

$1,309,917

2.16%

$1,282,167

-7.26%

$1,412,465

$1,211

-0.28%

$1,214

2.91%

$1,176

$1,395,000

0.18%

$1,392,500

6.49%

$1,310,000

sales price increased by 2% on the quarter, but is down over 7% on the year. PPSF

Average Sales Price

decreased nominally to $1,211 for the

Average Price Per Sq Ft

quarter, but showed 3% year over year

Median Sales Price

$1,207 PSF and over $1.3MM gross.

Number of Sales

2.91% AVERAGE PPSF INCREASE YEAR OVER YEAR

(in Millions)

growth. The four-quarter trailing average is

12

12

14

$3.75

$2000 $2,000

$3.00

$1,600 $1600

$2.25

$1,200 $1200

$1.50 $1.50

$800

$0.75 $0.75

$400 $400

$0.0 $0.00

2016 20164Q2017 20171Q2017 20172Q2017 20173Q2017 20174Q2018 20181Q2018 20182Q2018 20183Q2018 20184Q2019 20191Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

PPSF PRICE

$0

All materials presented herein are prepared by Brennan Realty Services LLC, and are intended for informational purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. Property information was gathered through StreetEasyTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.

1Q 2019 Market Report | 14

CLINTON HILL Townhouse Summary Clinton Hill saw eight transactions during the

1 to 4 Family Townhouses

quarter. The average sales price increased 5% from the previous quarter, while PPSF dropped slightly. Both metrics, however, were positive on the year. The four-quarter trailing average is $930 PSF and just under $2.6MM gross.

Average Sales Price Average Price Per Sq Ft Median Sales Price

3.26% AVERAGE SALES PRICE INCREASE YEAR OVER YEAR

(in Millions)

Number of Sales

1Q19

%∆ (Qtr)

4Q19

%∆ (Yr)

1Q18

$2,725,688

4.86%

$2,599,444

3.26%

$2,639,703

$953

-1.95%

$972

11.29%

$857

$2,752,500

1.94%

$2,700,000

0.09%

$2,750,000

8

9

7

$7.5 $7.5

$2500 $2,500

$6.0

$2,000 $2000

$4.5

$1,500 $1500

$3.0

$1,000 $1000

$1.5

$500

$0.0

2016 20164Q2017 20171Q2017 20172Q2017 20173Q2017 20174Q2018 20181Q2018 20182Q2018 20183Q2018 20184Q2019 20191Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

PPSF PRICE

$0

Condo Summary Clinton Hill condo transactions remained

Condominium Units

steady at 13 this quarter. Average sales price

1Q19

%∆ (Qtr)

4Q19

%∆ (Yr)

1Q18

$1,120,307

5.34%

$1,063,492

3.79%

$1,079,365

$1,032

-2.45%

$1,058

-5.26%

$1,089

$1,170,988

20.10%

$975,000

35.96%

$861,250

increased more than 5% on the quarter, and by almost 4% over the previous year.

Average Sales Price

PPSF was down nominally on both, but

Average Price Per Sq Ft

remains over $1,000PSF. The four-quarter

Median Sales Price

$1.1MM gross.

Number of Sales

3.79% AVERAGE SALES PRICE INCREASE YEAR OVER YEAR

(in Millions)

trailing average is $1,053 PSF and just over

13

14

18

$3.75 $3.75

$2000 $2,000

$3.00 $3.00

$1600 $1,600

$2.25 $2.25

$1200 $1,200

$1.50 $1.50

$800

$0.75 $0.75

$400

$0.0 $0.00

2016 20164Q2017 20171Q2017 20172Q2017 20173Q2017 20174Q2018 20181Q2018 20182Q2018 20183Q2018 20184Q2019 20191Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

PPSF PRICE

$0

All materials presented herein are prepared by Brennan Realty Services LLC, and are intended for informational purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. Property information was gathered through StreetEasyTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.

1Q 2019 Market Report | 15

PROSPECT HEIGHTS Townhouse Summary Prospect Heights saw increased transaction

1 to 4 Family Townhouses

volume, with eight. Average sales price increased significantly on the quarter, but is down for the year. PPSF increased similarly on the quarter, and was level on the year.

The four-quarter trailing average is $972PSF and just below $2.5MM gross.

Average Sales Price Average Price Per Sq Ft Median Sales Price

$2.57MM AVERAGE SALES PRICE THIS QUARTER

(in Millions)

Number of Sales

1Q19

%∆ (Qtr)

4Q19

%∆ (Yr)

1Q18

$2,572,500

28.09%

$2,008,333

-10.99%

$2,890,000

$951

20.40%

$790

1.80%

$934

$2,547,500

59.22%

$1,600,000

-19.64%

$3,170,000

8

3

3

$7.5 $7.5

$2500 $2,500

$6.0 $6.0

$2,000 $2000

$4.5 $4.5

$1,500 $1500

$3.0

$1,000 $1000

$1.5

$500

$0.0

2016 20164Q2017 20171Q2017 20172Q2017 20173Q2017 20174Q2018 20181Q2018 20182Q2018 20183Q2018 20184Q2019 20191Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

PPSF PRICE

$0

Condo Summary Prospect Heights had 20 condo transactions

Condominium Units

this quarter. Average sales price decreased

1Q19

%∆ (Qtr)

4Q19

%∆ (Yr)

1Q18

$1,413,280

-10.81%

$1,584,560

-12.61%

$1,617,295

$1,278

-3.99%

$1,331

-3.60%

$1,325

$1,459,055

-3.95%

$1,519,046

1.32%

$1,440,000

by double digits from the previous quarter, and on the year. While more modestly, PPSF

Average Sales Price

decreased on both periods as well. The four-

Average Price Per Sq Ft

quarter trailing average is $1,333 PSF and just under $1.6MM gross.

Median Sales Price

$1.6MM AVERAGE SALES PRICE OVER TRAILING FOUR QUARTERS

(in Millions)

Number of Sales

20

19

35

$5$5.0

$2000 $2,000

$4$4.0

$1,600 $1600

$3.0 $3

$1,200 $1200

$2$2.0

$800

$1$1.0

$400

$0.0 $0

2016 20164Q2017 20171Q2017 20172Q2017 20173Q2017 20174Q2018 20181Q2018 20182Q2018 20183Q2018 20184Q2019 20191Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

PPSF PRICE

$0

All materials presented herein are prepared by Brennan Realty Services LLC, and are intended for informational purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. Property information was gathered through StreetEasyTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.

1Q 2019 Market Report | 16

PARK SLOPE Townhouse Summary Park Slope saw 32 townhouse transactions

1 to 4 Family Townhouses

during the quarter, an incease from last quarter. The average sales price was level on the quarter but down on the year. PPSF increased for both periods. The four-quarter trailing average is $1,097 PSF and just under $2.9MM gross.

Average Sales Price Average Price Per Sq Ft Median Sales Price Number of Sales

AVERAGE PPSF INCREASE YEAR OVER YEAR

%∆ (Qtr)

4Q19

%∆ (Yr)

1Q18

$2,723,031

1.17%

$2,691,465

-10.95%

$3,057,997

$1,067

4.82%

$1,018

3.84%

$1,028

$2,837,500

7.34%

$2,643,500

7.18%

$2,647,500

32

25

30

$20.0 $20.0

$2500 $2,500

$16.0 $16.0

$2,000 $2000

$12.0 $12.0

$1,500 $1500

$8.0 $8.0

$1,000 $1000

$4.0 $4.0

$500

(in Millions)

3.84%

1Q19

$0.0 $0.0

2016 20164Q2017 20171Q2017 20172Q2017 20173Q2017 20174Q2018 20181Q2018 20182Q2018 20183Q2018 20184Q2019 20191Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

PPSF PRICE

$0

Condo Summary Park Slope saw 37 condo transactions this

Condominium Units

quarter. Average sales price was mostly level

1Q19

%∆ (Qtr)

4Q19

%∆ (Yr)

1Q18

$1,317,532

1.38%

$1,299,646

-15.85%

$1,565,674

$1,146

-3.15%

$1,183

-3.86%

$1,192

$1,365,000

10.08%

$1,240,000

1.68%

$1,342,500

on the quarter, but was down significantly on the year. PPSF decreased by ~3% on

Average Sales Price

both periods, to $1,146. The four-quarter

Average Price Per Sq Ft

trailing average is $1,207 PSF and above $1.3MM gross.

Median Sales Price

$1,207 AVERAGE PPSF OVER TRAILING FOUR QUARTERS

(in Millions)

Number of Sales

37

38

40

$7.5 $7.5

$2000 $2,000

$6.0

$1,600 $1600

$4.5

$1,200 $1200

$3.0 $3.0

$800

$1.5 $1.5

$400

$0.0 $0.0

2016 20164Q2017 20171Q2017 20172Q2017 20173Q2017 20174Q2018 20181Q2018 20182Q2018 20183Q2018 20184Q2019 20191Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

PPSF PRICE

$0

All materials presented herein are prepared by Brennan Realty Services LLC, and are intended for informational purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. Property information was gathered through StreetEasyTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.

1Q 2019 Market Report | 17

BEDFORD-STUYVESANT (WEST) Townhouse Summary The first quarter saw only twenty-one

1 to 4 Family Townhouses

transactions, a decrease from last year.

Average sales price and PPSF were both up significantly, both on the quarter and on the year. The four quarter trailing average is just under $600 PSF and $1.65 MM gross.

Average Sales Price Average Price Per Sq Ft Median Sales Price

14.96% AVERAGE SALES PRICE INCREASE YEAR OVER YEAR

(in Millions)

Number of Sales

1Q19

%∆ (Qtr)

4Q19

%∆ (Yr)

1Q18

$1,625,524

19.82%

$1,356,635

14.96%

$1,413,966

$624

37.14%

$455

18.77%

$526

$1,600,000

23.08%

$1,300,000

23.08%

$1,300,000

21

27

29

$7.5 $7.5

$2500 $2,500

$6.0 $6.0

$2,000 $2000

$4.5 $4.5

$1,500 $1500

$3.0

$1,000 $1000

$1.5

$500

$0.0

2016 20164Q2017 20171Q2017 20172Q2017 20173Q2017 20174Q2018 20181Q2018 20182Q2018 20183Q2018 20184Q2019 20191Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

PPSF PRICE

$0

Condo Summary The first quarter saw a noticeable decrease

Condominium Units

in transaction volume over the previous year,

1Q19

%∆ (Qtr)

4Q19

%∆ (Yr)

1Q18

$760,143

-1.96%

$775,324

-10.34%

$847,838

$842

11.67%

$754

-5.31%

$889

$800,000

15.67%

$691,596

-3.62%

$830,029

down to seven from 52. On the quarter, PPSF saw a double digit increase. Average sales

Average Sales Price

price and PPSF, however, decreased notably

Average Price Per Sq Ft

on the year. The four-quarter trailing average is $810 PSF and just over $800K gross.

Median Sales Price

$810 AVERAGE PPSF OVER TRAILING FOUR QUARTERS

(in Millions)

Number of Sales

7

60

52

$3.75

$2000 $2,000

$3.00

$1,600 $1600

$2.25

$1,200 $1200

$1.50

$800

$0.75

$400

$0.0 $0.00

2016 20164Q2017 20171Q2017 20172Q2017 20173Q2017 20174Q2018 20181Q2018 20182Q2018 20183Q2018 20184Q2019 20191Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

PPSF PRICE

$0

All materials presented herein are prepared by Brennan Realty Services LLC, and are intended for informational purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. Property information was gathered through StreetEasyTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.

1Q 2019 Market Report | 18

DUMBO Condo Summary Condo transactions in Dumbo increased this

Condominium Units

quarter to 17. Average sales price increased during the quarter and on the year to just under $2.3MM PPSF, however, dropped nominally on both periods. The four-quarter trailing average is $1,357 PSF and above $2.1MM gross.

Average Sales Price Average Price Per Sq Ft Median Sales Price

$1,395 AVERAGE PPSF THIS QUARTER

(in Millions)

Number of Sales

1Q19

%∆ (Qtr)

4Q19

%∆ (Yr)

1Q18

$2,267,709

39.20%

$1,629,136

9.09%

$2,078,846

$1,395

5.11%

$1,327

4.81%

$1,331

$1,995,000

43.63%

$1,389,000

4.18%

$1,915,000

17

11

20

$20 $20.0

$2000 $2,000

$16.0 $16

$1,600 $1600

$12.0 $12

$1200 $1,200

$8.0 $8

$800

$4.0 $4

$400 $400

$0.0 $0

2016 20164Q2017 20171Q2017 20172Q2017 20173Q2017 20174Q2018 20181Q2018 20182Q2018 20183Q2018 20184Q2019 20191Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

PPSF PRICE

$0 $0

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This report was created with contributions from the following Engel & Völkers Brownstone Brooklyn team members—Kyle Gregory and Samantha Anderson.

Donald P. Brennan, Jr. License Partner | Real Estate Broker Engel & Völkers Brownstone Brooklyn Brennan Realty Services, LLC 45 Main Street, Suite 1022 Brooklyn, NY 11201 Email: donald.brennan@evrealestate.com Cell: (917) 568-6525 Web: brownstonebrooklyn.evrealestate.com

All materials presented herein are prepared by Brennan Realty Services LLC, and are intended for informational purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. Property information was gathered through StreetEasyTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.

NOTES

Greenpoint

QUEENS

MANHATTAN Navy Yard

Williamsburg

DUMBO Brooklyn Heights

Downtown Brooklyn

Clinton Hill

Cobble Boerum Fort Greene Hill Hill Carroll Gardens Red Hook

Park Slope Greenwood Heights

BedfordStuyvesant

Prospect Heights

Gowanus

Windsor Terrace

Bushwick

Crown Heights

BROOKLYN Lefferts Gardens

Sunset Park

Bay Ridge ©Mapbox

Fort Shop Locations

Hamilton DUMBO – 45 Main Street, Suite 1022

.

Cobble Hill – 221A Court Street

Engel &Völkers Brownstone Brooklyn Office Phone: (718) 858 8238

Email: BrownstoneBrooklyn@EVRealEstate.com Web: BrownstoneBrooklyn.EVRealEstate.com @EVBrownstoneBrooklyn

.

Prospect Heights – 663 Vanderbilt Avenue