Is the Brooklyn market crashing before our very eyes? That's the impression you'll get after reading this little Crain's ditty about plummeting values in the BK, which sites the PriceChops at Williamsburg's 55 Berry and Dumbo's 85 Adams as proof of a declining marketplace. And that's not all. Corcoran reports a 17% drop in Brooklyn condo sales prices compared with this time last year, and developers are refusing to get into ridiculous bidding wars over choice pieces of land in Williamsburg and Dumbo. But all is not gloomy! Real estate pros are betting on population, Park Slope prestige (heh.) and "contextual rezoning" to keep everything stable in the Borough of Kings. Developing!
· Developmental delays [New York Business]