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.”