Brooklyn booms with big real estate developments
There are big things in the works for Brooklyn!
The biggest and most populated borough, home to everything from local markets to commercials starring Liam Neeson, has been booming on the real estate charts and adding tons of new developments, including in Downtown Brooklyn, Park Slope, Red Hook and Williamsburg.
According to Ariel Property Advisors, over 9.8 million buildable square feet of development property in Brooklyn—both residential and commercial—traded for over $1.8 billion last year, a 28 percent increase in dollar volume from 2013 and an 84 percent increase in dollar volume from 2012.