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By Accord Real Estate Group

Brooklyn’s Greenwood Heights Neighborhood Spotlight

June 30th 2016
Tags: All about Brooklyn New York, Brooklyn Real Estate

Greenwood Heights is sandwiched in between Park Slope and Sunset Park. The neighborhood boundaries here are 39th Street to the South, The Prospect Expressway to the North, 8th Avenue to the East and The Gowanus Canal to the West.

Greenwood Heights has excellent walkability as do many wonderful Brooklyn neighborhoods with many bus, subway and car travel options going into Manhattan. Greenwood Heights and nearby Park Slope have many amazing and diverse shopping and dining options along 5th and 7th Avenues.

Real Estate in Greenwood Heights consists of lovely wood frame row houses, brownstone townhouses, multi family homes and mixed use buildings.

Greenwood Heights is in close proximity to incredible parks and nature. For example, Greenwood Cemetery which has 478 acres of rolling hills, walking paths and wonderful views. Prospect Park and it’s 585 acres of trees, lakes and strolling paths are also within walking distance to Greenwood Heights. 

Greenwood Cemetery Greenwood Cemetery -Main Entrance

The cemetery's main entrance is located on 5th Avenue and 25th Street October 1st until the 1st day of daylight savings time hours are 7:45 am until 6 pm. After daylight savings time the gates are open from 7:45 am until 5 pm all winter long! The gate at 4th Avenue and 35th Street is open from 8 am until 4 pm 7 days a week. The entrance at Fort Hamilton Parkway and Prospect Park West is open from 8 am until 4 pm on weekends only.

In the 1840’s, Green Wood as the neighborhood was called at the time, rivaled Niagara Falls as the top tourist destination in the United States, decades before Prospect Park was conceived.

Today’s real estate market in Greenwood Heights is on the rise. The average listing price for homes is in the $1.3M range with the price per square foot at approximately $700.00. The Condo market is soaring with prices for a 3 bedroom, 2 full bath unit in the $1M range and larger units of approximately 1,800 square feet are asking in the $2M range. The rental market is red hot with asking rents for a studio apartment in the $1,800 to $2,200 range and 2 bedrooms in the $3,000 to $3,400 range.

Some examples of the development boom in Greenwood Heights are:

Sterling Town Developers residential project   located at 186 21st Street between 4th and 5th Avenues. Planned is a 25,040 square foot building with 26 units and 13 parking spaces. The units will be approximately 963 square feet each. Isaac and Stern are the architects here.

Developer Steve Cheung is planning a 63,218 square foot, 81 unit residential building at 685 4th Avenue, corner of 22nd Street. The building will include 6,400 square feet of retail space and 18 parking spots. 16 of the 81 units will be priced as affordable units. The units will be approximately 780 square feet each. Michael Kang is the architect here.

Another project going on in Greenwood Heights that is of note is the redevelopment of the Eagle provisions building located at 628 5th Avenue. Developer George Malafis is planning a 6 story building with 2,000 square feet of ground floor retail space, 20,304 square feet of residential space with 27 apartments of an average size of 725 square feet. There will be 14 parking spaces available. The architect on this project is Tom Winter.

If you are planning to sell your Brooklyn property, whether a residential property, a commercial building, mixed use, multifamily, vacant land, co-op or condominium or a development opportunity, call us. You will be very happy that you did.

Thank you.

Accord Real Estate Group