According to New York City records, the median price for an apartment in Brooklyn in the month of February 2023 was $657,000. The price represents a 13.8% drop from last year’s median of $761,844. The number of sales for the month fell significantly, plunging from 474 to 296 representing a year-over-year decrease of 38%.
February is the fifth consecutive month that the number of year-over-year sales has dropped in Brooklyn by at least 12%. In January, the year-over-year sales in Brooklyn decreased by 50%.
What exactly does $657,000 (or in this case $659,000) get you in Brooklyn? Let’s take a closer look.
Apartment 4-C at 45 Argyle Road in Prospect Park South, Brooklyn is a small two-bedroom in a newly converted pre-war located just down the street from the Parade Ground fields.
45 Argyle Road, built in 1931, is one of a multitude of modest red brick pre-wars located along this stretch of Argyle Road. This reimagined condominium rises four floors and contains 16 two and three-bedroom residences. The offering plan reflects a sell out of $11.420 million.
Apartment 4-C is a 700 square-foot two bedroom, one bath apartment with an open kitchen. This corner unit has side-by-side bedrooms, each identical in size (9’7’x14’) and an open living/dining/kitchen area. The dining area enjoys its own windowed alcove.
Apartments have been designed to mix prewar elements with a clean contemporary feel. Features include exposed brick, wide plank flooring, central heating and cooling systems and a washer/dryer.
The kitchens are expertly crafted. They feature eat-in peninsulas, stone countertops, custom designed cabinets with soft-closing hinges and a Bosch appliance package.
45 Argyle Road is a non-elevator building. Security is provided via an Aiphone video intercom. There is a common courtyard.
At $659,000, the apartment sold for $941 per square foot.
The Church Avenue subway station, which services the Q line, is located at the corner of Church Avenue and East 18th Street. This is about a 6-minute walk.
Apartment 4-C at 45 Argyle Road was first introduced to the market in August 2022 at $625,000. Within two months, the residence was under contract. The $659,000 price represents a 5.4% increase above the original ask. The building is being represented by the Eklund Gomes team at Douglas Elliman. Please visit Linecity for more details.