Market Overview for Quarter 1, 2021
Median Sale Price
No. of Transactions
Brooklyn Median Sale Price
In Quarter 1, the median home sale price in Downtown Brooklyn was $925K, a 13% increase year-over-year. A total of 59 properties changed hands, representing a 13% contraction compared to the same month last year. The median price per square foot as of Quarter 1 was $1,109, an -8% YoY change. In Brooklyn, the median home sale price was $802K.
Downtown Brooklyn Neighborhood Map
As the third largest business district in NYC, Downtown Brooklyn may buzz during the day but it's relatively quiet at night. A wealth of condos, apartments, brownstones and townhouses were built within the last decade and today it's an eclectic neighborhood and commuter's dream with parks, several schools, and many bus lines and subway stations.
Top most expensive neighborhoods in Brooklyn
Downtown Brooklyn median price compared with other neighborhoods in Brooklyn
Downtown Brooklyn property values are on the higher-end for neighborhoods in Brooklyn .
Downtown Brooklyn median price compared with all the neighborhoods in Brooklyn
|Neighborhood||Borough||Median Sale Price|
|Columbia Street Waterfront District||Brooklyn||$1,247,500|
|Prospect - Lefferts Gardens||Brooklyn||$834,981|
|Prospect Park South||Brooklyn||$725,000|
|Old Mill Basin||Brooklyn||$613,750|
|East New York||Brooklyn||$527,500|
Residential Properties Sold in Downtown Brooklyn
|Property Type||Median sale price||Y-o-Y||Median sale price/sqft||Y-o-Y||Transactions|
The median condo price in Downtown Brooklyn in Quarter 1 was $1.1M, up 12% year-over-year. Median coop sale price in Downtown Brooklyn were $560K, a change of 6% year-over-year. There was no statistically significant data for median house sale price activity for the period of Quarter 1 in Downtown Brooklyn.
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Downtown Brooklyn Neighborhood Guide
Second only to Manhattan, Downtown Brooklyn is one of the largest central business districts in all of NYC. This is a neighborhood that's been in flux since it was rezoned in 2004 and, with private investments worth billions of dollars, will be transforming for years to come. New Yorkers looking for adorable shops, knick-knack stalls, some of the best food in the city, and a plethora of transportation options are happy to call this classic neighborhood home. Though it's bustling with professionals during the day, nighttime brings a more serene vibe.
Architecture and landmarks
The business district of Downtown Brooklyn is home to the type of stately architecture you'd expect from a historical office area - vaulted ceilings and fluted columns abound. When you get beyond the offices, you'll be treated to a small-town suburban feel, with tree-lined streets, brownstone buildings, august churches, and impeccably restored row house, complete with incredible views of the Lower Manhattan skyline. Its history is rich and landmarks abound in this part of Brooklyn. They include the Brooklyn Historical Society - right across the neighborhood boundary in Brooklyn Heights, the New York Transit Museum, and the historical enclave of Bridge Plaza.
The Brooklyn and Manhattan Bridges connect Downtown Brooklyn to Manhattan and there is an impressive number of public transportation options, including a Manhattan trunk line with direct access to Lower Manhattan, as well as six major subway stations that service the A, C, F, N, R, 2, 3, 4, 5, B, D, Q, and G trains. The Long Island Rail Road also stops in neighboring Fort Greene at the intersection of Flatbush and Atlantic Avenues.
Downtown Brooklyn is at the intersection of several school districts, therefore PK to 5th grade children can attend one of the following zoned institutions: PS 287, PS 307, PS 8, PS 67, PS 20 and PS 261, in and around the neighborhood. Older children can choose between 5 unzoned middle schools within a mile radius, and 7 high schools in Downtown Brooklyn alone. Some of the more prestigious post-secondary schools in the neighborhood include Long Island University, St. Francis College, Brooklyn Law School, and the New York City Technical College.
The main health center is the Brooklyn Hospital Center located on Dekalb Avenue, next to Fort Greene Park. There are also plenty of health clinics, private practices, and alternative health options.
Downtown Brooklyn is located in the 84th precinct where there were a reported 22.7 crimes per 1,000 people in 2015. This precinct is one of the least safe in the borough.
Things to do
Much of Downtown Brooklyn's vibe comes from the fact that it's a bustling center of economic activity, but there are plenty of out-of-the-way cafes, nightclubs, and restaurants. Stop by the iconic Brooklyner skyscraper condo building to check out La Defense, a local favorite combination of a French bistro and bakery.
For a taste of the south, Hill Country Barbecue Market not only features dry-rub-style meats with all the fixings, they also have free live music on most every night of the week. For foodies with a taste for international cuisine, there's something here for everyone, including Shanghainese at Yaso Tangbao, classic French food at Brooklyn Fare, and award-winning pizza at Forno Rosso Pizzeria. Libations can be enjoyed at bars and nightclubs on almost every corner. Spots popular with the locals include the throwback cocktails at Livingston Manor, the upscale vibe at Myrtle and Gold, and the dance floor at Kimoto Rooftop.
As for green spaces, MetroTech Commons is a common area in the middle of a cluster of office buildings. You'll see professionals having lunch there on weekdays and a series of events happening on weekends, including local art installations and music festivals. Brooklyn Bridge Park is the most popular park in the area but Walt Whitman Park is much less crowded and has equally impressive views of the skyline. Visitors can walk around the fountain to read inscriptions of Whitman's poetry.