Regarding the priciest Brooklyn neighborhoods, Williamsburg was the most expensive one in the first quarter of 2012, with a median price per square foot of $805. Dumbo came second with $732/Sq Ft and Brooklyn Heights was third with $709/ Sq Ft.

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Brooklyn had two neighborhoods in the top 10, Dumbo and Manhattan Beach. After being in third place in Q3 2011, Dumbo ranked seventh this time with a median sale price of $901,151, while Manhattan Beach ranked tenth with a median sale price of $877,500.

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Five Borough Overview

It’s no surprise that Manhattan monopolized the City with regard to commercial real estate: it comprised 83% of the sales, accounting for $4.1 billion. Brooklyn was in a distant second place, with $451 million in sales volume.

Office and Multifamily Buildings Accounting for half of all the commercial real estate sales, the office market saw $2.52 billion in volume, up 34% Y-o-Y. Likewise, with $1.44 billion in sales, the multifamily sector also increased, by 31% Y-o-Y, and dropped by 25% compared to Q4 2011.    Transactions over $5 Million The over $5 million transactions accounted for a total of $4.19 billion in sales in Q1 2012, contributing 84% to the overall commercial sales volume. Looking only at the 10 largest closed commercial deals, these transactions alone accounted for almost $2 billion in volume.

530 5th Avenue

Click here to see our interactive map displaying all commercial properties sold in Manhattan in Q1 2012.

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The Aldyn

The first quarter of 2012 saw The Edge edge ahead once again (pun intended) as the building with the most units sold – as was the case taking 2011 as a whole. 4 buildings were in a tie with the same number of units sold, thus meaning that the “top 10″ contained in fact 13 buildings.

#1. The Edge
The two towers at 22 North 6th Street and 34 North 7th Street had a total of 49 units sold in Q1 2012, with a median price of $707,684.

#2. ONE48
This building, that was 75% sold in November 2011, occupies the second spot on our list, selling 41 units in Q1 2011 at a median price of $735,000.

#3. The Sheffield
This building in Clinton had 26 units sold at a median price of $2,006,031. It is the building with the second highest median price in the top 10, after the 4th placed The Aldyn. Here are the buildings with most units sold in Q1 2012:

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Continental Plaza. Picture courtesy of NorthJersey.com

Continental Plaza, a three-tower office complex located on 401 Hackensack Avenue in Hackensack (Bergen County), is scheduled for a foreclosure auction. The lien amount is $101.9M.

According to a North Jersey.com article that dates back to May 27th, 2010, the interest-only mortgage was initiated in 2004 but could not be refinanced in September of 2009, when it matured. The 2004 estimation had valued Continental Plaza at $109M. However, due to the decline in commercial property values, an estimation back in 2010 would have valued the property at less than the amount owed.

Considering the fact that the auction is scheduled for May 11th, the aforementioned article correctly predicted the extension of the foreclosure process.

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On the map, the size of the circle indicates the number of sales by building while the color shows the price per square foot. You can click on the dots to see more details about sold units in the buildings you’re interested in.

Click on the following link to browse current Manhattan apartments for sale.

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Map of the most expensive blocks in Brooklyn

It’s time for our third and final post covering the most expensive blocks in New York City, and this time we analyze Brooklyn. If you haven’t read the first two entries (covering the most expensive blocks in Queens and over NYC as a whole), you can do it here and here.

If you look at the map of the priciest blocks in Brooklyn, you may notice that Park Slope has 3 blocks in the top 10, followed by Cobble Hill with 2. Midwood, Brooklyn Heights, Carroll Gardens, Manhattan Beach and Homecrest are represented in the top 10 by one block each.

The priciest block  in Brooklyn is in Midwood, delimited by Avenue I and Avenue J / Ocean Parkway and East 7th Street, with a median sale price of $4,350,000. The biggest sale here was the single-family home on 935 Ocean Parkway. It sold on November 11th, 2010 for $6,130,000. Less than one year later, on September 20th, 2011, it exchanged hands again, for a slightly smaller amount of $6,000,000.

The second priciest block is in Brooklyn Heights, delimited by Joralemon Street and State Street / Willow Place and Hicks Street, which had a median sale price of $3,125,000. A similar thing happened with the most expensive property here as with the one at 935 Ocean Parkway. Namely, the single-family home at 33 Willow Place exchanged hands twice, the first time on August 13th, 2010, for $3,600,000 and the second time on June 28th, 2011 for $3,920,000.

The block that completes the top 3 is in Park Slope, delimited by 2nd Street and 3rd Street / 8th Avenue and Prospect Park West. There were 6 properties sold here, with a median price of $2,818,775. Here’s the complete top 10 of the priciest blocks in Brooklyn:

Methodology: For this report we looked at median sale prices for all of the blocks in Brooklyn with at least three home sales within the last two years.

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Most expensive blocks in NYC

Continuing the topic of our recent article that covered the most expensive blocks in Queens, it’s time to go city-wide. We could have easily entitled this post “Most Expensive Blocks in Manhattan”, since New York City’s 10 priciest blocks are all located in Manhattan.

A quick glance at the map of Manhattan’s priciest blocks reveals the fact that the Upper East Side dominates the top 10 with 4 blocks, followed by West Village with 2. East Midtown, Chelsea, Tribeca and Soho each have 1 block in the top 10 as well.

The priciest block in NYC is the block between East 70th – East 71st Street / 5th Avenue – Park Avenue, which recorded 9 transactions and had a median sale price of $8,925,000. The biggest sale here was 720 Park Avenue’s 4A coop unit, which sold for $21,995,500.

The second priciest block is East Midtown’s block between East 58th – East 59th Street / Park Avenue – 3rd Avenue, with a median sale price of $7,350,000. Two penthouses were the biggest sales on the block: 53W and 54E, both on 151 East 58 Street, which both sold for $18.5M. This block, along with the block that placed 9th (delimited by East 87th and East 88th Street / York Avenue & East End Avenue), had the highest number of transactions (23) among all blocks in the top 10.

Completing the top 3 was the Chelsea block between West 21st Street and West 22nd Street / 11th Avenue and 10th Avenue, which recorded 3 sales and had a median sale price of $6,650,000. Here is the complete top 10 of the priciest blocks in NYC:

Methodology: For this report we looked at median sale prices for all of the blocks in New York City with at least three home sales within the last two years.

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By the way, did we mention that it looks great? Because it really does – see for yourself.

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The Woodcrest Country Club - Photo Courtesy of Injersey.com

The Woodcrest Country Club, located at 300 Evesham Road in the Cherry Hill Township of New Jersey, is scheduled for a foreclosure auction on  March 28th, with a lien amount of $11,877,437.

The 155-acre property is located just a few short miles away from the city of Philadelphia. According to this 2010 article, the club has always been a favorite location for affluent people. This should come as no surprise, as the club boasts an 18-hole golf course, an indoor golf academy, a generous pool, tennis facilities and more.

The plaintiff in this auction is Sun National Bank. To browse more foreclosure listings in Camden County, visit our Camden County foreclosures page.

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