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$3M is “the new threshold” for a Brooklyn townhouse

Sales at or above that level rose 579 percent over the last five years

Credit: Ideal Properties Group
Credit: Ideal Properties Group

If you have any doubt the days of bargain hunting in Brooklyn are long gone, consider this statistic. Townhouse sales of $3 million or more in Brooklyn and North Brooklyn rose 579 percent over the last five years, according to the New York Post.

A new report shows that $3 million is “the new threshold” for a townhouse in the borough, managing director of Ideal Properties Group Aleksandra Stepanovic told the newspaper.

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In 2014, 98 townhouses were sold in Brooklyn and North Brooklyn for more than $3 million, the newspaper reported. In 2013, 47 townhouses sold for $3 million or more, while in 2009 the number was only 11. Gowanus also saw its first $3 million sale last year.

The deals in the $3 million and up category accounted for 9.5 percent of the total 1,035 townhouses that were sold in the borough last year. Actress Michelle Williams sold her Boerum Hill home for $8.8 million late last year.

Most of these transactions occured in Brooklyn Heights, Cobble Hill and Park Slope. Boerum Hill, Downtown Brooklyn, Fort Greene and Carroll Gardens also saw a chunk of the sales. [NYP] — Claire Moses

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Townhouse Market