Brooklyn Heights is one of New York City’s most desirable neighborhoods, which may lead many to think moving there is astronomically expensive. Yet of the 116 residential units sold in Brooklyn Heights during the first half of 2023, 45% cost less than $1 million. Conversely, only 5% were priced at $8 million-$12 million, and none cost more than that.
Of the 111 residential units for sale as of June, 23% were priced under $1 million, with another 36% in the $1 million-$3 million range. At the high end of the market, 13% had an asking price of $8 million-$12 million, and just 5% were priced higher.
To look at it another way, the median asking price for co-ops was well under $1 million—$665,000, to be exact. The median asking price for condos was $2.96 million; for townhouses, $8.5 million.
For the 138 rental properties available in June, the median monthly rent ranged from $3,544 for studio apartments and $4,725 for one-bedroom units to $7,250 for three-bedroom units and $8,397 for those with four or more bedrooms. Ten percent of the available units were asking for more than $9,000 per month in rent; nearly as many (9%) charged $2,500-$3,500 a month. The asking rent for 38% of the available units was $3,500-$5,000 per month. The plurality of units, 42%, charged $5,000-$9,000 per month.
Ten percent of the available units were asking for more than $9,000 per month in rent; nearly as many (9%) charged $2,500-$3,500 a month. The asking rent for 38% of the available units was $3,500-$5,000 per month. The plurality of units, 42%, charged $5,000-$9,000 per month.
