According to a recent report by The Department of City Planning, 4 Brooklyn, NY Community Districts are in the 10 citywide community districts that saw more residential development in 2023 than the city's other 49 districts combined!
The 4 Brooklyn districts are District 1 (Greenpoint-Williamsburg), District 2 (Brooklyn Heights, Dumbo, Downtown Brooklyn), District 8 (Crown Heights, Prospect Heights), and District 5 (East New York, Cypress Hills, New Lots, Starrett City).
In 2023, almost no housing was built in the Southern Brooklyn neighborhoods of Bay Ridge, Dyker Heights, Bath Beach, Bensonhurst and Coney Island. Housing in these neighborhoods are mostly low rise apartment buildings, built in the 1920's and 1930's as well as many single and 2 family homes.
The numbers speak for themselves:
2,200 housing units were built in District 1, just behind a Bronx neighborhood. District 1 also had a significant number of alterations/renovations done.
District 2 saw 1,600 new housing units built.
District 5 saw 794 new housing units built
District 8 saw 1,133 new housing units built.
The biggest projects in Brooklyn, New York were in Greenpoint Landing's 35 Commercial Street, in Downtown Brooklyn, The Brooklyn Tower, Brooklyn's 1st “supertall” residential skyscraper and the tallest building in the borough and in Prospect Heights, the 2 building project 595 Dean Street, part of the overall Pacific Park development.
According to the Department of City Planning, on the flip side of this good news, the 15,359 new homes that received building permits in 2023 is the lowest since 2016. The expiration of the 421A tax incentive program for builders, was the cause of the drop in permits.
The Mayor's City of YES for Housing Opportunity Proposal would enable more housing to be built in every neighborhood around the city.
To be continued...
Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.
If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop 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.
Sincerely yours,
Accord Real Estate Group
Your Brooklyn neighborhoods Realtors
