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

Saturday, November 2, 2013

NY Post - Brooklyn properties win big from Barclays success

Excerpt -

She cites two three-bedroom apartments she sold at 328 Bergen St., a condo building in Boerum Hill. The first unit went on the market last September, just before the stadium opened, and sold for $875,000. The second, a similar unit, went to market in February, months after the center opened, and sold this summer for $996,000 — a 14 percent bump.

“Now, obviously, there are market forces at play,” Barrett says. “But I think that since [Barclays] opened, that question mark just went away and people view it as a positive for the neighborhood.”

Corcoran broker Mary Lowe saw an even more dramatic payoff from the Barclays debut.

In the last year, Lowe has sold four units in Prospect Heights’ 173-unit Newswalk condo loft building, which, at 535 Dean St., is less than a block from the Atlantic Yards construction site. The first unit, which she sold last September, went for $567 per square foot. The second sold in June for $719. The third went in August for $889. And last month, Lowe says, she put a Newswalk apartment into contract at $913 per square foot.

“The first sale, there were lots of questions from buyers, a lot of nervousness and uncertainty about what Barclays would become,” Lowe says. “My last sale, I got very few questions. Buyers can walk around the neighborhood, and they see more amenities, more services, more restaurants.”

The arena’s opening has also rounded out the area’s cultural offerings, says Halstead broker Isaac Halperin, who has sold units in Fort Greene’s One Hanson Place, which overlooks the arena.

“You have highbrow cultural activities at Brooklyn Academy of Music, and now you also have more mainstream entertainment at Barclays,” he says.

No comments: