The Real Deal New York

Big surge in Brooklyn brownstone buyers who earn $300K

Number of new owners in that income bracket up 316 percent in first quarter, report finds
April 09, 2014 11:49AM

The brownstone buyers in Brooklyn are increasingly earning, on average, an income of at least $300,000 per year, according to a quarterly report from Ideal Properties Group.

Indeed, close to a third of the residents who bought a home in the first quarter earn $300,000 or more, the research showed. This marks a year-over-year surge of 316 percent in those neighborhoods, including Williamsburg, Greenpoint, Park Slope and Carroll Gardens. Thirty-one percent of brownstone buyers fall into the salary range of $100,000 to $199,000, the report said. The majority of buyers have jobs in either sales, finance or accounting.

Even prospective buyers who have $500,000 in savings and $200,000 available to put down are coming up against plenty of competition for properties. Agents “are shopping them around with hundreds like them or better qualified,” Aleksandra Scepanovic of Ideal Properties told DNAinfo. [DNAinfo]Mark Maurer