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By Accord Real Estate Group

Brooklyn’s Downtown Brooklyn

May 9th 2018
Tags: All about Brooklyn New York, Brooklyn Real Estate

Downtown Brooklyn, NY is in the Northwestern part of the borough. The street boundaries of Downtown Brooklyn are Tillary Street to the North, Ashland Place to the East, Atlantic Center and Schermerhorn Street to the South and Court Street to the West.

The 2004 rezoning of Downtown Brooklyn changed the way Downtown Brooklyn would grow and grow it has, well beyond any projections.

Downtown Brooklyn has now clearly become a residential hub with commercial space being developed in every direction. Downtown Brooklyn is New York City’s third largest central business district.

Here are some examples of today’s asking prices for residential properties in Downtown Brooklyn.

Condominium prices range from:

$625,000 for a 2 room, 1 bath, studio apartment to $699,000 for a 2 room, 1 bath studio with 634 square feet to $845,000 for a 1 bedroom, 1 bath with 739 square feet to $1.2M for a 1 bedroom, 1 bath with 895 square feet.

2 bedroom, 2 bath units range in price from $1.325M for 1,098 square feet to $1.595M for 1,144 square feet to $1.790M for 1,703 square feet.

3 bedroom 2 to 3.5 bath units range in price from $2.085M for 1,421 square feet to $2.554M for 1,651 square feet to $3.271M for 2,150 square feet.

Co op apartment prices range from:

For a 2 room studio with 1 bath, prices start at $349,000 and go up to $450,000.

For a 1 bedroom, 1 bath, 625 square foot,  the asking price is $649,000, for a 2 bedroom, 1 bath, 900 square foot, asking $850,000, for a 2 bedroom, 1.5 bath, 1,223 square foot, asking $899,000 and for a 2 bedroom, 2 bath, 1,200+ square foot apartment, the asking price is $995,000.

There are many Condops on the market today in Downtown Brooklyn. How this works is, these buildings are mixed use with Commercial and Residential space. The Commercial spaces are considered one condo unit and the entire residential section is considered another that is sub divided into co-operative shares, hence the term condop.

The price range for condop apartments on the market today is:

$858,000 for a 2 room, 1 bath studio with 548 square feet, $1.1M for a 1 bedroom, 1 bath with 739 square feet and the price goes up to $1.3M for a similar size unit.

For 2 bedroom, 2 bath units of approximately the same square footage in size, the price range is between $1.977M and $2.379M.

For a 3 bedroom, 2 bath, 1,485 square foot condop unit the asking price is $3.081M.

If you can find one, a single family townhouse in this neighborhood is likely to be expensive. One townhouse is on the market now that is completely renovated with 15 rooms, 5 bedrooms, 6 baths and 3,875 square feet in size and has an asking price of $3.7M.

Downtown Brooklyn has it’s own Apple Store located at 123 Flatbush Avenue at Ashland Place. The only other Apple Store in Brooklyn at this time is in Williamsburg on Bedford Avenue.

Downtown Brooklyn has some good schools and needs more to accommodate the tremendous population growth that has happened in this neighborhood. Some of these schools are:

P.S. 8 Elementary School located at 37 Hicks Street, serving grades K-8.

P.S. 261 Phillip Livingston located at 314 Pacific Street, serving grades PK, OK, SE- 5.

Stuyvesant High School located at 345 Chambers Street serving grades 9-12.

City Polytechnic High School of Engineering, Architecture & Technology located at 105 Tech Place.

The Brooklyn International High School located at 49 Flatbush Avenue Extension.

Urban Assembly School for Law & Justice located at 283 Adams Street.

The subway into Manhattan from Downtown Brooklyn has many lines located at the Atlantic Avenue/Barclay Center station, which includes the B train(weekdays only), D,N, Q, R, 2, 3, 4 and 5 train.

Some of the best restaurants in Downtown Brooklyn are:

Bijan’s Brooklyn located at 81 Hoyt Street for American/Persian cuisine.

La Defense located at 2 Metrotech Center, a French bistro.

Saltbrick Tavern located at 156 Tillary Street for American cuisine with a twist.

Kimoto Rooftop located at 216 Duffield Street for Japanese food.

Brasserie Seoul located at 300 Schermerhorn Street for Contemporary French and Korean cuisine.

Amarachi located at 189 Bridge Street for Nigerian, Caribbean and American fusion food.

Downtown Brooklyn has some cool bars. They are:

Livingston Manor located at 42 Hoyt Street.

Kimoto Rooftop located at 216 Duffield Street.

House of Wax located at 445 Albee Square.

Brooklyn Brewhouse located at 229 Duffield Street.
Rocco’s Taco’s and Tequilla bar located at 339 Adams Street.

Grand Army located at 336 State Street for sophisticated cocktails.

There is a Trader Joe’s in Downtown Brooklyn located at 445 Gold Street.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn NY property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, co op or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

Your Brooklyn Real Estate Broker