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By Accord Real Estate Group

Brooklyn Real Estate Sunset Park Properties - High Demand/ Prices Up

September 25th 2013
Tags: Brooklyn Blog, Real Estate News, Brooklyn Real Estate

Before we get to talk about Real Estate, let’s just review the background and history of Sunset Park. Since the 1980's until today Sunset Park Brooklyn, NY has the largest Chinese community in New York City and has been known as Brooklyn's Chinatown. Sunset Park was at one time called Little Latin America, with over 50% of the neighborhoods population being Hispanic in cultural background and origin. These days Sunset Park is home to a wonderful diversity of not only Asians, but Hispanics, Finns, Norwegians, Italians, Orthodox Jews and others. 

Now on to Sunset Park real estate. The borders of the Sunset Park neighborhood are between 65th Street and 42nd Street and from 3rd Avenue to 8th/9th Avenue. The two main hubs of Sunset Park are 7th and 8th Avenues. 9th Avenue bordering Borough Park is rapidly becoming populated with Asian families and businesses. 3rd and 4th Avenues are a mixture of residential and commercial and industrial properties. 5th and 6th Avenues are a mixture of commercial mom and pop mixed use buildings, apartment buildings, single and multi family buildings.

The demand for and the price of properties in Sunset Park, like several other Brooklyn neighborhoods such as Dumbo, Williamsburg, Prospect Heights, Bedford Stuyvesant, Cobble Hill, Boerum Hill, Fort Greene, Clinton Hill has risen steadily over the last few years. Our real estate company and our real estate brokers and agents have sold properties in several of the hottest neighborhoods just named and we are extremely proud to be doing business in this amazing Brooklyn real estate market. As examples of the pricing of properties in today's market in Sunset Park are: Co op apartments are selling in the range of $200,000 - $600,000, Condominiums are being sold in the $300,000- $800,000 price range, single family to small multi family homes are selling in the range of $700,000 to $1,600,000, larger multi family and apartment buildings are selling in the range of just over $1,000,000 to well into the $2,000,000- $3,000,000 price range and mixed -use stores plus apartments are selling in the range of $700,000 to over $1,000,000.

Sunset Park, the park itself, which is located between 41st street and 44th street, from 5th to 7th avenue, has the highest peak in Brooklyn with wonderful views of the lower Manhattan Freedom Tower, the Empire State Building and the Statue of Liberty. For all the fans of Ralph Kramden, the Brooklyn bus driver of The Honeymooners T.V. series, there is a Jackie Gleason depot in Sunset Park located on the East side of 5th Avenue, between 36th and 38th Streets.

On August 31st in our blog entitled Brooklyn New York, A Foodies Paradise, one of the neighborhoods that we focused on is Sunset Park, which has some of Brooklyn's very best ethnic restaurants from Cantonese to Thai to Vietnamese cuisine and more.

For more information about Brooklyn Real Estate, please call or email our Brooklyn Real Estate company and one of our Brokers will be happy to help.