The New Coney Island - Brooklyn's Times Square by the Sea

Saturday, November 2, 2013

NY Post - Brooklyn home prices hit 10 year record high

Excerpts -

Before the economic meltdown, the average price of a Brooklyn home hit $603,428 in 2007 — then sank to $494,720 in 2009 — but has rebounded to a stunning $694,777, according to the Elliman Report.

“It isn’t a discount neighborhood anymore,” said Pam Liebman, CEO of The Corcoran Group.

Pricey Manhattan homes are helping to drive buyers across the Brooklyn Bridge, but many are attracted to the hipster borough because it’s become an attractive place to live.

Brooklyn is “hot because of all the restaurant openings, Barclays Center,” said Frank Percesepe, regional senior vice president, Brooklyn for Corcoran. “So many commercial neighborhoods are getting new buildings, and they are getting turned around into beautiful neighborhoods.”

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