Investment sales jump in southwest Brooklyn
Photo courtesy of Sunset Park Landmarks Committee
Real estate investment sales will grow by around 57 percent in southwest Brooklyn by the end of 2014, according to data from Massey Knakal Realty Services.
Neighborhoods included in these numbers are Bay Ridge, Bensonhurst and Sunset Park, which account for 25 percent of the total buildings sold and 18 percent of total sales figures within all of Brooklyn.
According to Massey Knakal Vice President for Research Adrian Mercado, Brooklyn’s booming “middle class” Asian immigrant and Asian-American population, along with the Sunset Park waterfront’s industrial and creative tech development at Industry City and Brooklyn Army Terminal, are contributing to the investment interest.