The Real Deal New York

Investors eyeing Brooklyn’s Weeksville

The lesser-known sub-neighborhood is getting new attention
July 12, 2015 04:00PM

Inventory in Weeksville, the easternmost section of Crown Heights, is tight, with only a dozen houses on the market. But that may soon change as developers push into the area.

“Now investors are coming in, you see a new building here, a new building there,” Manga Mwazi, a broker with Douglas Elliman, told the Wall Street Journal. “Everyone just has to set their watches and wait.”

The interest is partially due to rarely found deals in the neighborhood, with homes priced between $549,000 and $977,000. One co-op in the area is asking just $225,000.

“A lot of the buyers were priced out of Bed-Stuy,” Josiane Lysius of Douglas Elliman, told the Journal of an open house that attracted some 60 visitors. She added that Weeksville’s convenience to public transportation and wide row houses with deep backyards are a draw for buyers. [WSJ] Christopher Cameron