Brooklyn Heights sees softening

Brooklyn Heights is one of the most established and wealthiest sections of the borough. But while the area is faring better than most other Brooklyn neighborhoods, it is still seeing softening. Sales for 20 Henry, the luxury condo conversion, were temporarily suspended until construction on the model apartments is finished and, on Montague Street, the main retail drag, retail vacancies are popping up as an all-too-familiar sign of the economic downturn. On this week’s Webcast, The Real Deal’s Jen Benepe talks to Tim King, a principal at CPEX Real Estate, about retail and to residential broker William Ross of Halstead Property about how the housing market in Brooklyn Heights is holding up during these trying times. To watch the full Webcast click on the video below.