Brooklyn brownstones remain unsold

Convention predicts that outer borough markets are the last to see price jumps but the first to see them fall. In Brooklyn, prices are falling and its brownstones are staying on the market longer. Streeteasy.com shows 38 percent of townhouses had price cuts recenty, with an average drop of 11 percent. Prices have nearly reached parity with Manhattan, and broker Rick Wohlfarth says that “you’re going to see people who were looking in Brooklyn coming back to Manhattan.” In Prospect Heights, six of 10 listings have been cut, as have a third of the listings in Brooklyn Heights, Carroll Gardens and Park Slope.