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

Sunday, January 10, 2016

Brooklyn is the real estate story of the decade - Sheepshead Bay and Coney Island drawing increasing investment

REW  excerpts -

“I think Brooklyn is the story, potentially of the decade, in real estate,” said Kliegerman. “The demand for property in Brooklyn the last couple years has been incredibly high. The pace of appreciation in the condo market has been incredibly well-received.

Back in the market, between 2007 and 2011, Brooklyn was truly a value play, and a lot of the product was not as sophisticated, but it’s at a higher level now.”

Though Manhattan has always commanded the highest real estate prices compared to the other four boroughs, Kliegerman sees a long road of opportunity for Brooklyn.

“The good news is Brooklyn is a very big borough, and has a lot more opportunity for continued growth,” he said, mentioning Downtown Brooklyn, Bushwick, and even Sheepshead Bay and Coney Island as areas increasingly drawing investors and buyers.

“I think Brooklyn has a lot of opportunity – probably more than Manhattan.”

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