The Real Deal New York

Median sale price tops $1.2M in… Gowanus?

Prices top Carroll Gardens, Park Slope according to Property Shark
December 26, 2016 01:00PM

The Gowanus Canal (Photo by Catherine Gibbons)

Despite the smell and despite the pollution, the median sale price in Gowanus topped $1.2 million this year — surging past neighborhoods like Carroll Gardens and Park Slope.

The 68 percent year-over-year increase landed Gowanus at No. 14 on Property Shark’s list of the city’s 50 most expensive neighborhoods, DNAinfo reported. Last year, Gowanus clocked in at No. 42 with a median sale price of $720,000.

According to Property Shark, Carroll Gardens was No. 15 this year with a median sale price of $1.2 million and Park Slope ranked No. 25 with a median sale price of $979,500.

Prices in Gowanus are poised to climb higher, if the city rezones the largely-industrial neighborhood, a move that would spur residential development. Already, speculative investment rose 47 percent in 2015 from the prior year.

This summer, Property Markets Group went into contract to buy a development site with 332,000 buildable square feet along the Gowanus Canal for about $50 million. [DNAinfo] — E.B. Solomont