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

Thursday, February 12, 2015

AM NY - Southwest Brooklyn real estate is heating up

Excerpt -

Although north Brooklyn neighborhoods are the focus of most of the borough’s real estate investment hype, the southwest section is catching up.

The number of buildings sold in that area extending from Sunset Park to Coney Island, including Bensonhurst, increased about 40% between 2013 and 2014, according to Adrian Mercado, the vice president for research at Massey Knakal Realty Services. The southwest end also contributed to 25% of Brooklyn’s total buildings sold, compared to 22% in northern Brooklyn, which includes Williamsburg, Greenpoint and Bushwick.

“As Brooklyn has become a stand-alone market, much in the way Manhattan is a stand-alone to New York City, more investors have come to Brooklyn as a whole looking for opportunity and yield,” Mercado said.

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