The Real Deal New York

Brooklyn sees record investment sales in first half of 2014

The total dollar amount of deals in the borough was $3.4 billion in the first half of 2014

August 21, 2014 03:45PM

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(Credit: Maurice Mayfield)

(Credit: Maurice Mayfield)

The Brooklyn investment market is on track to break another record this year, according to a report from real estate firm Massey Knakal Realty Services.

In the first half of 2014, 1,068 investment properties were sold in the borough. This is a 92 percent increase compared to the first half of 2013.

This is the largest number of sales since a previous high from the first half of 2007.

Purchases of elevator buildings were up 342 percent in the first half of 2014, compared to a year earlier. The total dollar amount was up too, growing 142 percent over the first half of 2013.

The total dollar amount of all Brooklyn deals is $3.4 billion, much higher than the previous high of $2 billion in the first half of 2006. [Brownstoner] — Claire Moses 

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