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