Brooklyn Heights

Report attributes rising home sales in Brooklyn to co-op transactions

October 5, 2018 Shlomo Sprung
Eagle photo by Lore Croghan

In the second quarter of this year, the median price for Brooklyn residences dropped 8 percent from the year-on-year amount to $687,000, according to Curbed. A Corcoran report attributed this to unusually high prices last year.

However, the borough saw an increase in sales. During the same quarter, Brooklyn registered 1,620 transactions, up 5 percent from the previous year, Curbed reported. Co-op sales accounted for most of the deals in the borough.

As far as neighborhoods are concerned, Brooklyn Heights-Cobble Hill-DUMBO-Downtown Brooklyn led the borough with 195 sales and a median sales price of $997,000.

Second in sales was Greenpoint-Williamsburg with 176. Greenpoint-Williamsburg’s medium sales price was even higher than Brooklyn Heights at $1.056 million.

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