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
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”
Better.com CEO Vishal Garg (Photo Illustration by Steven Dilakian for The Real Deal with Getty Images and YouTube/vishalgarg)
“I’ve never managed more than 10 people in my life:” Better’s CEO fesses up
“I’ve never managed more than 10 people in my life:” Better’s CEO fesses up
Rupert Murdoch with 23 East 22nd Street
Rupert Murdoch’s One Madison unit leads Manhattan luxury contracts
Rupert Murdoch’s One Madison unit leads Manhattan luxury contracts
A photo illustration of 100 Deforest Road in Montauk (Corcoran)
Montauk trailer home discounted by $500K*
Montauk trailer home discounted by $500K*
(Photo Illustration by Steven Dilakian for The Real Deal with Getty Images)
Investors are scoring bulk discounts from strapped homebuilders
Investors are scoring bulk discounts from strapped homebuilders
(Illustration by The Real Deal with Getty)
Hamptons house hunters: If you can’t buy, build?
Hamptons house hunters: If you can’t buy, build?
Michael Flavin (Illustration by Kevin Cifuentes for The Real Deal with Getty Images)
Real estate broker Michael Flavin sentenced in fraud scheme
Real estate broker Michael Flavin sentenced in fraud scheme
Silver Lining Ranch in Aspen (Redfin, Illustration by The Real Deal)
Aspen Mansion sells for a steep $69M
Aspen Mansion sells for a steep $69M
arrow_forward_ios

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

Loading...