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10 Year Study Shows Huge Price Jumps Across Brooklyn

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Real estate brokerage launched in Williamsburg late 2002, and the firm has been tracking the Brooklyn market since its first full year of operation. With a decade of data in the books, aptsandlofts put together a survey looking at the last ten years, charting the changes in eight popular neighborhoods. Unsurprisingly, every neighborhood saw huge price gains; in most areas, sale prices are up more than 100 percent. Here are a few highlights:

· The most expensive sale was 70 Willow Street, Truman Capote's former house, which sold for $14.2 million.

· The penthouse of the Clocktower building at 1 Main Street in Dumbo set a price per square foot record. It sold for more than $10M at $3,358/psf.

· Townhouse prices in Brooklyn Heights are up more than 150 percent. In 2003, the average sale price was $1.926M. Today, it's $4.86M.

· Williamsburg is the "epicenter of the Brooklyn condo housing boom." In 2003, the neighborhood had just 21 condo sales, while 2013 saw a whopping 706. Prices are also way up. Ten years ago, there 42 sales with an
average price of $378,000, compared to 125 sales with an average price of $1,262M in 2012.

· Throughout the decade, Park Slope was one of the most active neighborhoods, seeing an average of 500 co-op and condo sales, plus 150 townhouse sales per year. All of the neighborhood's price records were set on Prospect Park West.

· Boerum Hill, Cobble Hill, and Carroll Gardens, which aptsandlofts horribly abbreviates as BoCoCa, saw the average townhouse price rise more than 120 percent to $1.828M. The report was clearly done before they had all of the data, because it notes that this price will likely rise to $2.1M by "year-end 2013."

· Dumbo actually saw the lowest price gains, but that's unsurprising giving the neighborhood's big boom in the early-aughts. Prices rose 26 percent in 10 years, and average price per square foot rose 48 percent.

· Williamsburg may be the center of the condo boom, but Bedford-Stuyvesant also saw serious gains. In 2003, the neighborhood had just 12 condo sales, but ten years later sales volume was up nearly 1000 percent to 124 sales.
· [official]
· All Market Reports coverage [Curbed]