Brownstone Brooklyn Apartments Averaging $661K

010308 brownstone web Brownstone Brooklyn Apartments Averaging $661K The average price of an apartment in Brooklyn rose 8 percent during 2007 to $661,000, according to a report from the Corcoran Group released on Wednesday. Here are some more Brooklyn tidbits:

  • The average price per square foot for a co-op jumped 33 percent from 2006 to 2007 to $577.
  • The average co-op sales price increased 7 percent year-over-year, from $497,000 in 2006 to $534,000 in 2007.
  • The average price of a co-op studio rose 10 percent–the most of any co-op size–from $246,000 in 2006 to $271,000 in 2007.
  • Condo prices increased an average of 5 percent in 2007, from $705,000 in 2006 to $740,000.
  • Demand for family-size apartments drove the average sales price of a three-bedroom condo up 24 percent in 2007 (the biggest rise of any condo size) to $1.172 million, compared to $946,000 the previous year.
  • Condo prices rose by 14 percent, on average, in Brooklyn Heights–the biggest increase of any neighborhood polled by Corcoran–from $554,000 in 2006 to $630,000 in 2007.
  • The average price of a one-family townhouse in Brooklyn increased marginally, from $1.536 million in 2006 to $1.581 million in 2007, but the median price increased by 11 percent during the same period.
Article continues below
More from Culture
Shades of "Greenery."
Pantone’s Color of the Year is Green—a Vastly Underappreciated Color