Sunset Park luxury market is heating up: brokers

A townhouse in the area recently sold for a record to $2M

New York /
Mar.March 20, 2017 05:00 PM

Brooklyn’s Sunset Park appears poised to see a jump in high-end property sales, as the area becomes increasingly popular with buyers.

Earlier this month, a 2,800-square-foot townhouse in the neighborhood sold for just over $2 million, DNAinfo reported. It’s the priciest sale of a townhouse in the area so far, according to the publication.

Compass’ TRData LogoTINY Abigail Palanca, the listing broker of the 439 36th Street townhouse, told DNAinfo that buyers are drawn to the area because the brownstones there are cheaper and larger than those in places like Windsor Terrace and Park Slope.

Development in the area is also driving up demand for housing, brokers told DNAinfo. Industry City — a multi-million dollar industrial development in the areas — has brought around 6,000 workers to the area since 2013. The complex will eventually feature a hotel, shops, and a 16-building hub for tech startups.

In the fourth quarter of 2016, the median sales price in Brooklyn hit $750,000, an all-time record.  [DNAinfo]Miriam Hall  


Related Articles

arrow_forward_ios
Here are the week’s top luxury sales
Here are the week’s top luxury sales
Here are the week’s top luxury sales
Clockwise from left: John D. Rockefeller, Izzy Englander, Steven Mnuchin, David Koch, Jacqueline Bouvier, and William Zeckendorf (Credit: Getty Images and StreetEasy)
For 15 years, David Koch lived at the world’s “richest building”
For 15 years, David Koch lived at the world’s “richest building”
Here are the week’s top luxury sales
Here are the week’s top luxury sales
Here are the week’s top luxury sales
371 Clinton Street in Carroll Gardens and 6 Strong Place in Cobble Hill (Photos via Compass)
Townhouse sales dominate Brooklyn’s luxury market
Townhouse sales dominate Brooklyn’s luxury market
37 East 12th Street and 262 Central Park West (Google Maps, iStock)
Luxury report: Patience pays off for buyer of $20M penthouse
Luxury report: Patience pays off for buyer of $20M penthouse
Gotham's Joel Picket and David Picket with 538 10th Ave. (Google Maps)
Gotham plans massive mixed-use building on Far West Side
Gotham plans massive mixed-use building on Far West Side
(iStock)
Forbearance rate stubborn among home-mortgage borrowers
Forbearance rate stubborn among home-mortgage borrowers
(Engel & Völkers Market Center, 432 Park)
Sugimoto-curated 79th floor at 432 Park quietly hits market
Sugimoto-curated 79th floor at 432 Park quietly hits market
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...