2Q19
BROWNSTONE BROOKLYN MARKET REPORT
Brownstone Brooklyn Market Report 2Q19 Overview Our report indicates that townhouses in Brownstone Brooklyn are trading just above the average sales price established a year ago and the average sales price for condominiums is 3.7% below the average sales price established in the 2Q18. While the overall volume and gross transaction volume of townhouses have increased year over year, the gross transaction volume of condominiums has decreased dramatically.
Townhouses Over $325MM worth of 1- to 4-family townhouses traded hands in 2Q19, versus $268MM during 2Q18, a increase of $59MM, or 21.9%. Transaction volume increased notably compared to last year. The average sales price increased modestly as well, to approximately $2,455,000. Brooklyn Heights took the top spot in our ranking of highest gross priced transactions at $8.9MM. The Heights also claimed the top spot on a dollar per square foot basis at $1,875. Notable transactions appear on page 9 of this report.
Condominiums Approximately $240MM worth of condominiums sold in 2Q19, versus $340MM during 2Q18, a decrease of $100MM, or 29.5%. While the number of transactions dropped 26.9%, year over year average price per square foot dipped by 4.1% to $1,125 and average sales price dipped similarly by 3.7%. A transaction at the Pierhouse in Brooklyn Heights was the most expensive deal on a gross sales price basis at just below $5.0MM. A penthouse in DUMBO took the top spot on a dollar per square foot basis at $1,769. 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
ENGEL&VÖLKERS DEVELOPMENT
ENGEL&VÖLKERS
YACHTING
ENGEL&VÖLKERS COMMERCIAL
ENGEL&VÖLKERS RESORTS
2Q 2019 Market Report | 2
BROWNSTONE BROOKLYN Townhouse Summary The townhouse market saw an increase in
1 to 4 Family Townhouses
transactions compared to last quarter with 133 sales. Average sales price stayed mostly level on the quarter and on the year. PPSF, however, dipped on both periods. The fourquarter trailing average is $948 PSF and over $2.6MM gross.
Average Sales Price Average Price Per Sq Ft Median Sales Price
$2.45MM AVERAGE SALES PRICE THIS QUARTER
(in Millions)
Number of Sales
2Q19
%∆ (Qtr)
1Q19
%∆ (Yr)
2Q18
$2,454,864
-0.89%
$2,476,898
1.76%
$2,412,511
$854
-10.17%
$950
-3.56%
$885
$2,150,000
-15.02%
$2,530,000
-2.27%
$2,200,000
133
117
111
$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
2017 1Q2018 2Q2018 3Q2018 4Q2019 1Q2019 20171Q2017 20172Q2017 20173Q2017 20174Q2018 2018 2018 2018 2018 2019 20192Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0
Condo Summary The condo market saw 166 trades, an
Condominium Units
increase form Q1, but well below highs from
2Q19
%∆ (Qtr)
1Q19
%∆ (Yr)
2Q18
$1,445,178
-9.17%
$1,591,087
-3.66%
$1,500,056
$1,125
-6.32%
$1,201
-4.08%
$1,173
$1,177,500
-11.13%
$1,325,000
4.67%
$1,125,000
’17 and ‘18. Average sales price decreased by 9.1% on the quarter, but only 3.6% from last
Average Sales Price
year. PPSF decreased on both periods, as well.
Average Price Per Sq Ft
The four-quarter trailing average is $1,157 PSF and under $1.5MM gross.
Median Sales Price
$1,125 AVERAGE PPSF THIS QUARTER
(in Millions)
Number of Sales
166
147
227
$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
2017 1Q2018 2Q2018 3Q2018 4Q2019 1Q2019 20171Q2017 20172Q2017 20173Q2017 20174Q2018 2018 2018 2018 2018 2019 20192Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
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.
2Q 2019 Market Report | 3
BROOKLYN HEIGHTS Townhouse Summary The second quarter saw a modest uptick in
1 to 4 Family Townhouses
transaction volume to four townhome trades in Brooklyn Heights. Average sales price was the year. PPSF was also up dramatically on the quarter, but level on the year. The fourquarter trailing average is $1,683 PSF and just over $6.8MM gross.
16.88% AVERAGE SALES PRICE INCREASE YEAR OVER YEAR
Average Sales Price Average Price Per Sq Ft Median Sales Price Number of Sales
%∆ (Qtr)
1Q19
%∆ (Yr)
2Q18
$6,247,500
146.94%
$2,530,000
16.88%
$5,345,000
$1,516
65.40%
$917
-0.08%
$1,517
$5,850,000
131.23%
$2,530,000
50.00%
$3,900,000
4
1
3
$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)
up dramatically on both the quarter and
2Q19
$3.0 $3.0 $0.0 $0.0
PPSF PRICE
$500 2017 2Q2017 3Q2017 4Q2018 1Q2018 2Q2018 3Q2018 4Q2019 1Q 2019 2Q 20171Q2017 2017 2017 2017 2018 2018 2018 2018 2019 2019 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
$0 $0
Condo Summary The second quarter saw a noticeable uptick in
Condominium Units
transaction volume from the previous quarter.
2Q19
%∆ (Qtr)
1Q19
%∆ (Yr)
2Q18
$2,403,214
-53.38%
$5,154,674
-30.30%
$3,447,864
$1,391
-5.76%
$1,476
-17.13%
$1,679
$2,150,000
-41.64%
$3,683,960
-12.60%
$2,460,000
Average sales price and PPSF both dropped significantly from the previous quarter and on
Average Sales Price
the year. The four-quarter trailing average is
Average Price Per Sq Ft
$1,397 PSF and over $3.0MM gross.
Median Sales Price
$1,397 AVERAGE PPSF OVER TRAILING FOUR QUARTERS
(in Millions)
Number of Sales
15
6
16
$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
2017 3Q2018 4Q2019 1Q2019 20171Q2017 20172Q2017 20173Q2017 20174Q2018 20181Q2018 20182Q2018 2018 2018 2019 20192Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
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.
2Q 2019 Market Report | 4
COBBLE HILL Townhouse Summary Transaction volume was back to more normal
1 to 4 Family Townhouses
levels with six trades this quarter. The average sales price increased very significantly on the quarter and on the year to $5.9MM. PPSF was also up on the quarter, but mostly level on the year. The four-quarter trailing average is $1,334 PSF and just under $4.2MM gross.
Average Sales Price Average Price Per Sq Ft Median Sales Price
17.67% AVERAGE PPSF INCREASE QUARTER OVER QUARTER
(in Millions)
Number of Sales
2Q19
%∆ (Qtr)
1Q19
%∆ (Yr)
2Q18
$5,889,050
68.88%
$3,491,667
60.85%
$3,661,250
$1,427
17.67%
$1,213
1.98%
$1,399
$5,865,500
67.59%
$3,500,000
65.23%
$3,550,000
6
3
4
$9.0
$2500 $2,500
$7.2 $7.2
$2000 $2,000
$5.4 $5.4
$1500 $1,500
$3.6 $3.6
$1000 $1,000
$1.8 $1.8
$500 $500
$0.0
2017 1Q2018 2Q2018 3Q2018 4Q2019 1Q2019 20171Q2017 20172Q2017 20173Q2017 20174Q2018 2018 2018 2018 2018 2019 20192Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0
Condo Summary The second quarter again saw six
Condominium Units
transactions. As a result of a very well received development, average sales price and PPSF increased significantly for the quarter and over the previous year. The fourquarter trailing average is $1,287 PSF and just over $1.5MM gross.
Average Sales Price Average Price Per Sq Ft Median Sales Price
134.64% AVERAGE SALES PRICE INCREASE QUARTER OVER QUARTER
(in Millions)
Number of Sales
2Q19
%∆ (Qtr)
1Q19
%∆ (Yr)
2Q18
$2,948,625
134.64%
$1,256,667
285.56%
$764,771
$1,536
25.31%
$1,225
40.54%
$1,093
$3,013,069
201.31%
$1,000,000
317.31%
$722,022
6
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
2017 4Q2018 1Q2018 2Q2018 3Q2018 4Q2019 1Q2019 20171Q2017 20172Q2017 20173Q2017 2017 2018 2018 2018 2018 2019 20192Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
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.
2Q 2019 Market Report | 5
CARROLL GARDENS Townhouse Summary Carroll Gardens saw a return to more
1 to 4 Family Townhouses
modest transaction volume, with nine. Average sales price was mostly unchanged the year. PPSF, however, saw pretty healthy upward movement on both periods. The four-quarter trailing average is $1,087 PSF and just under $2.9MM gross.
5.51% AVERAGE PPSF INCREASE QUARTER OVER QUARTER
Average Sales Price Average Price Per Sq Ft Median Sales Price Number of Sales
(in Millions)
on the quarter but down significantly on
2Q19
%∆ (Qtr)
1Q19
%∆ (Yr)
2Q18
$2,830,556
-0.08%
$2,832,755
-16.98%
$3,409,286
$1,086
5.51%
$1,029
6.88%
$1,016
$2,650,000
-6.94%
$2,847,500
-23.19%
$3,450,000
9
20
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
2017 1Q2018 2Q2018 3Q2018 4Q2019 1Q2019 20171Q2017 20172Q2017 20173Q2017 20174Q2018 2018 2018 2018 2018 2019 20192Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0
Condo Summary Eight condo transactions closed in Carroll
Condominium Units
Gardens during the quarter. The average
2Q19
%∆ (Qtr)
1Q19
%∆ (Yr)
2Q18
$1,464,500
-14.78%
$1,718,500
-12.97%
$1,682,814
$1,086
-9.63%
$1,201
3.44%
$1,050
$1,440,000
8.68%
$1,325,000
-0.69%
$1,450,000
sales price decreased for the quarter and on the year. PPSF was also down on the quarter,
Average Sales Price
but saw an increase of 3.4% on the year.
Average Price Per Sq Ft
The four-quarter trailing average is $1,179 PSF and just below $1.7MM gross.
Median Sales Price
3.44% AVERAGE PPSF INCREASE YEAR OVER YEAR
(in Millions)
Number of Sales
8
10
7
$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
2017 1Q2018 2Q2018 3Q2018 4Q2019 1Q2019 20171Q2017 20172Q2017 20173Q2017 20174Q2018 2018 2018 2018 2018 2019 20192Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
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.
2Q 2019 Market Report | 6
COLUMBIA STREET WATERFRONT DISTRICT Townhouse Summary Only one townhouse transacted in the
1 to 4 Family Townhouses
Columbia St Waterfront during the quarter. Average Sales Price Average Price Per Sq Ft Median Sales Price
1 TOWNHOUSE TRANSACTIONS
(in Millions)
Number of Sales
2Q19
%∆ (Qtr)
1Q19
%∆ (Yr)
2Q18
$2,100,000
-
-
-
-
$972
-
-
-
-
$2,100,000
-
-
-
-
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
2017 1Q2018 2Q2018 3Q2018 4Q2019 1Q2019 20171Q2017 20172Q2017 20173Q2017 20174Q2018 2018 2018 2018 2018 2019 20192Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0
Condo Summary Columbia St Waterfront District saw four
Condominium Units
condo transactions this quarter. Average
2Q19
%∆ (Qtr)
1Q19
%∆ (Yr)
2Q18
$1,005,025
-17.89%
$1,224,000
0.96%
$995,500
$1,045
-10.25%
$1,164
1.37%
$1,031
$930,050
-33.80%
$1,405,000
2.88%
$904,000
sales price decreased 18% on the quarter, but is flat on the year. PPSF was down on
Average Sales Price
the quarter but up modestly on the year. The
Average Price Per Sq Ft
four-quarter trailing average is $1,100 PSF and just above $1.1MM gross.
Median Sales Price
$1,100 AVERAGE PPSF OVER TRAILING FOUR QUARTERS
(in Millions)
Number of Sales
4
7
7
$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
2017 1Q2018 2Q2018 3Q2018 4Q2019 1Q2019 20171Q2017 20172Q2017 20173Q2017 20174Q2018 2018 2018 2018 2018 2019 20192Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
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.
2Q 2019 Market Report | 7
BOERUM HILL Townhouse Summary There were only three townhouse transactions
1 to 4 Family Townhouses
in Boerum Hill during the quarter. Average sales price spiked from the previous quarter’s dip, and PPSF continues to be strong, but is down from the previous quarter’s high. The four-quarter trailing average is $1,259 PSF and just under $3.3MM gross.
Average Sales Price Average Price Per Sq Ft Median Sales Price Number of Sales
AVERAGE PPSF OVER THIS QUARTER
%∆ (Qtr)
1Q19
%∆ (Yr)
2Q18
$3,375,000
20.40%
$2,803,083
17.05%
$2,883,333
$1,242
-10.37%
$1,385
19.64%
$1,038
$3,475,000
12.64%
$3,085,000
21.93%
$2,850,00
3
6
3
$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)
$1,242
2Q19
$0.0 $0.0
2017 1Q2018 2Q2018 3Q2018 4Q2019 1Q2019 20171Q2017 20172Q2017 20173Q2017 20174Q2018 2018 2018 2018 2018 2019 20192Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0
Condo Summary The volume of Boerum Hill condo sales
Condominium Units
increased this quarter to eleven transactions.
2Q19
%∆ (Qtr)
1Q19
%∆ (Yr)
2Q18
$1,387,364
-6.14%
$1,478,167
-21.79%
$1,773,863
$1,187
-2.88%
$1,222
-5.23%
$1,253
$1,150,000
-2.54%
$1,180,000
-11.37%
$1,297,500
The average sales price dencreased during the quarter by 6.1% while PPSF decreased
Average Sales Price
by only 2.8%. On the year, both metrics are
Average Price Per Sq Ft
also lower. The four-quarter trailing average is $1,235 PSF and just under $1.5MM gross.
Median Sales Price
$1,235 AVERAGE PPSF OVER TRAILING FOUR QUARTERS
(in Millions)
Number of Sales
11
7
14
$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
2017 1Q2018 2Q2018 3Q2018 4Q2019 1Q2019 20171Q2017 20172Q2017 20173Q2017 20174Q2018 2018 2018 2018 2018 2019 20192Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
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.
2Q 2019 Market Report | 8
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
Brooklyn Heights
$1,516
$6,247,500
4,250
497
$24,990,000
4
3.00%
Cobble Hill
$1,427
$5,889,050
4,104
956
$35,334,300
3
5.00%
Boerum Hill
$1,242
$3,375,000
2,872
794
$10,125,000
3
2.00%
Park Slope
$1,138
$3,213,446
2,933
3,627
$83,549,600
26
20.00%
Carroll Gardens
$1,086
$2,830,556
2,708
1,423
$25,475,000
9
7.00%
Gowanus
$1,025
$1,709,000
1,675
964
$8,545,000
5
4.00%
Columbia Water District
$972
$2,100,000
2,160
190
$2,100,000
1
1.00%
Fort Greene
$900
$2,154,996
2,480
1,236
$19,394,963
9
7.00%
Prospect Heights
$864
$3,010,000
3,632
910
$6,020,000
2
2.00%
Clinton Hill
$724
$1,892,500
2,740
1,328
$24,602,500
13
10.00%
Bedford-Stuyvesant (W)
$554
$1,570,193
2,916
-
$86,360,604
55
41.00%
-
-
-
4
-
0
0.00%
$854
$2,454,864
2,910
11,929
$326,496,967
133
100.00%
Market
DUMBO 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
Cobble Hill
$1,536
$2,948,625
1,878
541
$17,691,752
6
4.00%
Brooklyn Heights
$1,391
$2,403,214
1,752
890
$36,048,209
15
9.00%
Prospect Heights
$1,313
$1,717,559
1,286
1,367
$29,198,500
17
10.00%
Gowanus
$1,305
$1,253,167
948
557
$7,519,000
6
4.00%
DUMBO
$1,276
$1,774,695
1,345
1,197
$17,746,945
10
6.00%
Boerum Hill
$1,187
$1,387,364
1,150
827
$15,261,000
11
7%
Park Slope
$1,179
$1,486,305
1,233
2,733
$50,534,365
34
20.00%
Fort Greene
$1,173
$1,295,922
1,114
848
$15,551,059
12
7.00%
Carroll Gardens
$1,086
$1,464,500
1,357
659
$11,716,000
8
5.00%
Columbia Water District
$1,045
$1,005,025
970
691
$4,020,100
4
2.00%
Clinton Hill
$1,021
$1,098,825
1,068
942
$7,691,773
7
4.00%
$739
$747,801
1,047
-
$26,920,845
36
22.00%
$1,125
$1,445,178
1,243
111,252
$239,899,548
166
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.
2Q 2019 Market Report | 9
Top 5 Townhouse Sales By Sales Price Rank
Address
Neighborhood
Sales Price
Square Feet
$PSF
1
15 Willow St
Brooklyn Heights
$8,990,000
6,200
$1,450
2
88 Amity St
Cobble Hill
$8,553,300
5,888
$1,453
3
219 Kane St
Cobble Hill
$6,500,000
3,828
$1,698
4
120 Amity St
Cobble Hill
$6,231,000
4,056
$1,536
5
65 Cranberry St
Brooklyn Heights
$6,000,000
3,440
$1,744
Top 5 Townhouse Sales By Price Per Square Foot Rank
Address
Neighborhood
Sales Price
Square Feet
$PSF
1
69 Joralemon St
Brooklyn Heights
$5,700,000
3,040
$1,875
2
65 Cranberry St
Brooklyn Heights
$6,000,000
3,440
$1,744
3
219 Kane St
Cobble Hill
$6,500,000
3,828
$1,698
4
633 2nd St
Park Slope
$4,500,000
2,708
$1,662
5
378 17th St
Park Slope
$1,750,000
1,080
$1,620
Top 5 Condominium Sales By Sales Price Rank
Address
Neighborhood
Sales Price
Square Feet
$PSF
1
130 Furman St #S-108
Brooklyn Heights
$4,952,107
4,731
$1,047
2
51 Jay St #Pha
DUMBO
$4,709,916
2,663
$1,769
3
100 Amity St #7
Cobble Hill
$4,634,615
2,850
$1,626
4
70 Henry St #4
Brooklyn Heights
$4,604,610
2,697
$1,707
5
100 Amity St #15
Cobble Hill
$4,056,000
2,345
$1,730
Top 5 Condominium Sales By Price Per Square Foot Rank
Address
Neighborhood
Sales Price
Square Feet
$PSF
1
51 Jay St #Pha
DUMBO
$4,709,916
2,663
$1,769
2
9 College Pl #3a
Brooklyn Heights
$2,325,000
1,326
$1,753
3
100 Amity St #15
Cobble Hill
$4,056,000
2,345
$1,730
4
70 Henry St #2
Brooklyn Heights
$2,650,000
1,540
$1,721
5
70 Henry St #4
Brooklyn Heights
$4,604,610
2,697
$1,707
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.
2Q 2019 Market Report | 10
GOWANUS Townhouse Summary Gowanus saw five transactions during
1 to 4 Family Townhouses
the quarter. Average sales price dropped notably on the quarter and on the year. PPSF, however, was up significantly for both periods. The four-quarter trailing average is $989 PSF and just under $2.2MM gross.
Average Sales Price Average Price Per Sq Ft Median Sales Price
8.20% AVERAGE PPSF INCREASE YEAR OVER YEAR
(in Millions)
Number of Sales
2Q19
%∆ (Qtr)
1Q19
%∆ (Yr)
2Q18
$1,709,000
-17.49%
$2,071,250
-19.99%
$2,136,000
$1,025
25.49%
$817
8.20%
$948
$2,000,000
2.56%
$1,950,000
-13.04%
$2,3000,000
5
8
5
$5.0
$2,500
$4.0
$2,000
$3.0
$1,500
$2.0
$1,000
$1.0
$500
$0.0
2017 1Q2018 2Q2018 3Q2018 4Q2019 1Q2019 20171Q2017 20172Q2017 20173Q2017 20174Q2018 2018 2018 2018 2018 2019 20192Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0
Condo Summary Gowanus saw a steady six condo transactions
Condominium Units
this quarter. Average sales price decreased
2Q19
%∆ (Qtr)
1Q19
%∆ (Yr)
2Q18
$1,253,167
-23.14%
$1,630,464
-21.81%
$1,602,749
$1,305
5.84%
$1,233
3.97%
$1,255
$1,187,000
-12.87%
$1,362,319
-7.65%
$1,285,350
significantly on the quarter and on the year. PPSF, however, showed growth in both
Average Sales Price
periods. The four-quarter trailing average is
Average Price Per Sq Ft
$1,266 PSF and over $1.4MM gross.
Median Sales Price
$1,305 AVERAGE PPSF THIS QUARTER
(in Millions)
Number of Sales
6
5
10
$5.0
$2000 $2,000
$4.0
$1,600 $1600
$3.0
$1,200 $1200
$2.0
$800
$1.0
$400
$0.0
2017 1Q2018 2Q2018 3Q2018 4Q2019 1Q2019 20171Q2017 20172Q2017 20173Q2017 20174Q2018 2018 2018 2018 2018 2019 20192Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
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.
2Q 2019 Market Report | 11
FORT GREENE Townhouse Summary Fort Greene saw 9 transactions again this
1 to 4 Family Townhouses
quarter. Average sales price was down notably on the quarter, and dramatically on the year. PPSF, however, was up for both periods to $900. The four-quarter trailing average is just below $1,000 PSF and just under $2.7MM gross.
Average Sales Price Average Price Per Sq Ft Median Sales Price
4.06% AVERAGE PPSF INCREASE QUARTER OVER QUARTER
(in Millions)
Number of Sales
2Q19
%∆ (Qtr)
1Q19
%∆ (Yr)
2Q18
$2,154,996
-7.16%
$2,321,111
-29.89%
$3,073,750
$900
4.06%
$865
3.23%
$872
$2,300,000
-8.00%
$2,500,000
-23.33%
$3,000,000
9
9
6
$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
2017 1Q2018 2Q2018 3Q2018 4Q2019 1Q2019 20171Q2017 20172Q2017 20173Q2017 20174Q2018 2018 2018 2018 2018 2019 20192Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0
Condo Summary Fort Greene saw exactly 12 condo
Condominium Units
transactions for the third consecutive
2Q19
%∆ (Qtr)
1Q19
%∆ (Yr)
2Q18
$1,295,922
-1.07%
$1,309,917
-5.91%
$1,377,250
$1,173
-3.11%
$1,211
-0.40%
$1,178
$1,262,500
-9.50%
$1,395,000
-7.88%
$1,370,500
quarter. Average sales price stayed mostly level on the quarter, but is down on the year.
Average Sales Price
PPSF, meanwhile, was down nominally on
Average Price Per Sq Ft
the quarter, but level on the year. The four-
Median Sales Price
just over $1.3MM gross.
Number of Sales
$1.30MM AVERAGE SALES PRICE OVER TRAILING FOUR QUARTERS
(in Millions)
quarter trailing average is $1,205 PSF and
12
12
12
$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
2017 2Q2018 3Q2018 4Q2019 1Q2019 20171Q2017 20172Q2017 20173Q2017 20174Q2018 20181Q2018 2018 2018 2018 2019 20192Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
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.
2Q 2019 Market Report | 12
CLINTON HILL Townhouse Summary Clinton Hill saw 13 transactions during the
1 to 4 Family Townhouses
quarter. The average sales price and PPSF decreased dramatically from the previous quarter and the previous year. The fourquarter trailing average is $862 PSF and just under $2.4MM gross.
Average Sales Price Average Price Per Sq Ft Median Sales Price
$2.35MM AVERAGE SALES PRICE OVER TRAILING FOUR QUARTERS
(in Millions)
Number of Sales
2Q19
%∆ (Qtr)
1Q19
%∆ (Yr)
2Q18
$1,892,500
-30.57%
$2,725,688
-27.70%
$2,617,500
$724
-24.11%
$953
-21.14%
$918
$1,830,000
-33.51%
$2,752,500
-41.90%
$3,150,000
13
8
8
$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
2017 1Q2018 2Q2018 3Q2018 4Q2019 1Q2019 20171Q2017 20172Q2017 20173Q2017 20174Q2018 2018 2018 2018 2018 2019 20192Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0
Condo Summary Clinton Hill condo transactions dipped
Condominium Units
to seven this quarter. Average sales price
2Q19
%∆ (Qtr)
1Q19
%∆ (Yr)
2Q18
$1,098,825
-1.92%
$1,120,307
-1.22%
$1,112,399
$1,021
-1.07%
$1,032
-3.40%
$1,057
$995,000
-15.03%
$1,170,988
-10.76%
$1,115,000
remained level on the quarter and on the previous year. PPSF was mostly level on the
Average Sales Price
quarter but down slightly on the year. The
Average Price Per Sq Ft
four-quarter trailing average is $1,048 PSF and just under $1.1MM gross.
Median Sales Price
$1,021 AVERAGE PPSF THIS QUARTER
(in Millions)
Number of Sales
7
13
13
$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
2017 1Q2018 2Q2018 3Q2018 4Q2019 1Q2019 20171Q2017 20172Q2017 20173Q2017 20174Q2018 2018 2018 2018 2018 2019 20192Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
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.
2Q 2019 Market Report | 13
PROSPECT HEIGHTS Townhouse Summary Prospect Heights saw only two transactions
1 to 4 Family Townhouses
this quarter. While trades were low, the average sales price increased significantly on the quarter, and for the year. PPSF, however, was down for both periods. The four-quarter trailing average is $958 PSF and just below $2.5MM gross.
Average Sales Price Average Price Per Sq Ft Median Sales Price
$3.01MM AVERAGE SALES PRICE THIS QUARTER
(in Millions)
Number of Sales
2Q19
%∆ (Qtr)
1Q19
%∆ (Yr)
2Q18
$3,010,000
17.01%
$2,572,500
7.69%
$2,795,000
$864
-9.19%
$951
-19.33%
$1,071
$3,010,000
18.16%
$2,547,500
7.69%
$2,795,000
2
8
1
$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
2017 1Q2018 2Q2018 3Q2018 4Q2019 1Q2019 20171Q2017 20172Q2017 20173Q2017 20174Q2018 2018 2018 2018 2018 2019 20192Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0
Condo Summary Prospect Heights had 17 condo transactions
Condominium Units
this quarter. Average sales price increased by
2Q19
%∆ (Qtr)
1Q19
%∆ (Yr)
2Q18
$1,717,559
21.53%
$1,413,280
-3.39%
$1,777,886
$1,313
2.80%
$1,278
-3.01%
$1,354
$1,749,410
19.90%
$1,459,055
10.72%
$1,580,046
double digits from the previous quarter, but is down slightly on the year. PPSF increased
Average Sales Price
modestly on the quarter, but dipped on the
Average Price Per Sq Ft
year. The four-quarter trailing average is $1,324 PSF and just over $1.5MM gross.
Median Sales Price
$1,324 AVERAGE PPSF OVER TRAILING FOUR QUARTERS
(in Millions)
Number of Sales
17
20
32
$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
2017 2Q2018 3Q2018 4Q2019 1Q2019 20171Q2017 20172Q2017 20173Q2017 20174Q2018 20181Q2018 2018 2018 2018 2019 20192Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
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.
2Q 2019 Market Report | 14
PARK SLOPE Townhouse Summary Park Slope saw 26 townhouse transactions
1 to 4 Family Townhouses
during the quarter, a dip from last quarter. The average sales price was up notably on the quarter and on the year. PPSF increased similarly for the quarter, but is level on the year. The four-quarter trailing average is $1,093 PSF and just over $2.9MM gross.
Average Sales Price Average Price Per Sq Ft Median Sales Price
7.90% AVERAGE SALES PRICE INCREASE YEAR OVER YEAR
(in Millions)
Number of Sales
2Q19
%∆ (Qtr)
1Q19
%∆ (Yr)
2Q18
$3,213,446
18.01%
$2,723,031
7.90%
$2,978,122
$1,138
6.62%
$1,067
-0.78%
$1,147
$3,181,050
12.11%
$2,837,500
24.75%
$2,550,000
26
32
31
$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
2017 1Q2018 2Q2018 3Q2018 4Q2019 1Q2019 20171Q2017 20172Q2017 20173Q2017 20174Q2018 2018 2018 2018 2018 2019 20192Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0 $0
Condo Summary Park Slope saw 34 condo transactions
Condominium Units
this quarter. Average sales price was up
2Q19
%∆ (Qtr)
1Q19
%∆ (Yr)
2Q18
$1,486,305
12.81%
$1,317,532
4.09%
$1,427,908
$1,179
2.85%
$1,146
-7.61%
$1,276
$1,312,500
-3.85%
$1,365,000
1.74%
$1,290,000
notably on the quarter and on the year. PPSF increased by 2.8% on the quarter, but
Average Sales Price
was down on the year. The four-quarter
Average Price Per Sq Ft
trailing average is $1,185 PSF and above $1.3MM gross.
Median Sales Price
4.09% AVERAGE SALES PRICE INCREASE YEAR OVER YEAR
(in Millions)
Number of Sales
34
37
41
$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
2017 1Q2018 2Q2018 3Q2018 4Q2019 1Q2019 20171Q2017 20172Q2017 20173Q2017 20174Q2018 2018 2018 2018 2018 2019 20192Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
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.
2Q 2019 Market Report | 15
BEDFORD-STUYVESANT (WEST) Townhouse Summary The second quarter saw an impressive 55
1 to 4 Family Townhouses
transactions. Average sales price was down 3.4% and PPSF was down over 10%, on the quarter. PPSF, however, is mostly level on the year. The four quarter trailing average is $543 PSF and just over $1.5 MM gross.
Average Sales Price Average Price Per Sq Ft Median Sales Price
13.64% AVERAGE SALES PRICE INCREASE YEAR OVER YEAR
(in Millions)
Number of Sales
2Q19
%∆ (Qtr)
1Q19
%∆ (Yr)
2Q18
$1,570,193
-3.40%
$1,625,524
13.64%
$1,381,732
$554
-11.22%
$624
-0.42%
$557
$1,385,000
-13.44%
$1,600,000
11.02%
$1,247,528
55
21
43
$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
2017 1Q2018 2Q2018 3Q2018 4Q2019 1Q2019 20171Q2017 20172Q2017 20173Q2017 20174Q2018 2018 2018 2018 2018 2019 20192Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0
Condo Summary The second quarter saw a continued robust
Condominium Units
activity in transaction volume with 36 trades.
2Q19
%∆ (Qtr)
1Q19
%∆ (Yr)
2Q18
$747,801
-10.38%
$834.405
-3.68%
$776,378
$739
-5.25%
$780
-10.44%
$825
$697,502
-13.68%
$808,000
-14.94%
$820,000
Average sales price and PPSF saw decreases, both on the quarter and on the year, but not
Average Sales Price
overly divergent from trailing averages. The
Average Price Per Sq Ft
four-quarter trailing average is $759 PSF and just under $800K gross.
Median Sales Price
$787K AVERAGE SALES PRICE OVER TRAILING FOUR QUARTERS
(in Millions)
Number of Sales
36
47
55
$3.75
$2000 $2,000
$3.00
$1,600 $1600
$2.25
$1,200 $1200
$1.50
$800
$0.75
$400
$0.0
2017 1Q2018 2Q2018 3Q2018 4Q2019 1Q2019 20171Q2017 20172Q2017 20173Q2017 20174Q2018 2018 2018 2018 2018 2019 20192Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
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.
2Q 2019 Market Report | 16
DUMBO Condo Summary Condo transactions in DUMBO decreased
Condominium Units
this quarter to 10. Average sales price decreased during the quarter and on the year. PPSF dropped notably on both periods as well. The four-quarter trailing average is $1,338 PSF and just above $2.0MM gross.
Average Sales Price Average Price Per Sq Ft Median Sales Price
$2.03MM AVERAGE SALES PRICE OVER TRAILING FOUR QUARTERS
(in Millions)
Number of Sales
2Q19
%∆ (Qtr)
1Q19
%∆ (Yr)
2Q18
$1,774,695
-21.74%
$2,267,709
-22.41%
$2,287,357
$1,276
-8.53%
$1,395
-7.80%
$1,384
$1,500,00
-24.81%
$1,995,000
-33.85%
$2,267,500
10
17
14
$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
2017 1Q2018 2Q2018 3Q2018 4Q2019 1Q2019 20171Q2017 20172Q2017 20173Q2017 20174Q2018 2018 2018 2018 2018 2019 20192Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0 $0
Would You Like To Know What Your Property Is Worth? Engel & Völkers Brownstone Brooklyn agents are your local experts— attuned to the fluctuating Brooklyn and Manhattan real estate markets. Let us provide you with a comprehensive and up-to-date complimentary valuation of your property, or a property that you are interested in acquiring. Simply call or email Donald using the contact information noted below. From representing residential buyers and sellers in re-sales and new development (townhouses, condos and co-ops), to landlords and renters of multi-family properties, Engel & Völkers Brownstone Brooklyn is a respected and trusted advisor. Advocacy is central to everything we do. No matter what your goals are, our team has decades of experience to help you reach them. 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.
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