The Real Deal New York

Sunset Park luxury market is heating up: brokers

A townhouse in the area recently sold for a record to $2M
March 20, 2017 05:00PM

439 36th Street in Brooklyn

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