This is the fastest-growing BK nabe

Median price for a pad in Bushwick is up 84% since 2008

New York /
Jun.June 25, 2018 09:30 AM

690 Bushwick Avenue, 1513 Gates Avenue, and 358 Grove Street in Bushwick (Credit: CityRealty)

Apartment prices in Bushwick have jumped faster than any other New York City neighborhood over the past decade.

The median price of $788,700 in the trendy Brooklyn neighborhood is 84 percent higher than it was in 2008, according to data from Trulia cited by Bloomberg.

As neighborhoods like the Lower East Side and Williamsburg became too pricey, buyers started looking deeper in Brooklyn.

“As Williamsburg flourished, Bushwick was discovered,” New York University urban planning professor Mitchell Moss told Bloomberg. “My students have been priced out of the East Village and they’re priced out of Williamsburg, so now they’re living in Bushwick, and they may buy in Ridgewood.”

Bushwick is now the 90th most expensive neighborhood in the New York metro area, up from the 189th most expensive in 2008.

Ridgewood, Sunset Park and Jackson Heights have also seen large price increases over the past 10 years.

Brooklyn developers like Boaz Gilad’s Brookland Capital are heavily invested in building in the neighborhood. [Bloomberg] – Rich Bockmann 


Related Articles

arrow_forward_ios
Former J. Crew CEO Mickey Drexler and 760 N Walnut Ave, Ketchum (Getty; Realtor)

Former J. Crew CEO Mickey Drexler sells Idaho estate

Former J. Crew CEO Mickey Drexler sells Idaho estate
Singapore (iStock)

Singapore luxury market rebounds despite fewer foreign buyers

Singapore luxury market rebounds despite fewer foreign buyers
(iStock)

Mortgage requests surge ahead of Thanksgiving

Mortgage requests surge ahead of Thanksgiving
Vanke US managing director Kai-yan Lee, RFR’s Aby Rosen and 100 East 53rd Street (Photos via Foster + Partners and Getty)

Vanke seeks to remove RFR from Midtown condo project

Vanke seeks to remove RFR from Midtown condo project
Hippo founders Assaf Wand and Eyal Navon (LinkedIn)

Home insurance startup Hippo raises $350M

Home insurance startup Hippo raises $350M
Prices increased 6.6 percent year-over-year in September (iStock)

US home prices surged 6.6% in September

US home prices surged 6.6% in September
From left: Edison Properties CEO Robert Selsam, Ironstate Development's Michael Barry, Stellar Management founder Larry Gluck (LinkedIn; Gluck Family Foundation)

These developers could benefit the most from Soho’s rezoning

These developers could benefit the most from Soho’s rezoning
176 North 6th Street and 16 South Portland Avenue in Brooklyn (StreetEasy; Google Maps)

Brooklyn luxury market surges with nearly $73M in contracts

Brooklyn luxury market surges with nearly $73M in contracts
arrow_forward_ios

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

Loading...