Deborah Rieders, an associate broker with Corcoran, said sales have been brisk at Pier House, the 105-unit condominium in Brooklyn Bridge Park, since it opened in 2015. “It’s one of the few full-service buildings in the neighborhood,” said Ms. Rieders, who lives there herself. “Every apartment has a west-facing view. Every unit is built as a little townhouse — duplexes with a separation between the bedroom and living areas.”
Some buyers, she said, were longtime residents of Brooklyn Heights or other brownstone areas who had been living in townhouses and loved the neighborhood but wanted to downsize. “Others were people who never thought they’d want to live in Brooklyn but were won over by the views.”
Andrew Friedman, an associate broker with Halstead, noted that the rental market was slow until recently, with plenty of apartments available, thanks to a glut of units built nearby, in Downtown Brooklyn. But now, he said, things are picking up. “There have been price corrections, and owners offering incentives,” so rentals are moving more quickly.
What You’ll Pay
The median sale price, according to StreetEasy, is $982,000, while the median rental price is $2,715 a month. But prices range as widely as the properties: In mid-May, 129 homes were for sale, with a studio on Remsen Street listed at $270,000 and a 6,000-square-foot 19th-century townhouse on Henry Street recently reduced to $7.25 million. And some new luxury apartments are listed for upward of $10 million.
Mr. Friedman of Halstead said rental prices have not changed much in the last year. As for sales, he said, the average price for a one-bedroom was $676,000 in 2017, and $734,000 in 2018. The average price for a three-bedroom apartment increased from $1.7 million in 2017 to $2.6 million in 2018 — a jump, he said, that reflected sales in new developments that came online in 2017 but closed in 2018.