Brooklyn Townhouse Report Take Aways:
- Sales activity is a little cooler. 2015 turned out to be a banner year for Brooklyn townhouse sales, so we were unsurprised that buyers were a little less busy in 2016. The number of townhouse sales in 2016 was down 5%.
- Strong prices. The median price for a Brooklyn townhouse in 2016 was $1.75M, up 9%, and the average price per square foot was $774, up 5%. Multi-residence townhouses were especially strong, with a 10% rise in median price and 6% in ppsf.
- Investment opportunities. Speculative investment, restoration, and property flipping are playing a role in the Brooklyn townhouse segment in some neighborhoods, particularly in Bedford-Stuyvesant.
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