According to New York City records, the median price for an apartment in Brooklyn in the month of March 2023 was $699,000. The price represents a 6.7% drop from last year’s median of $749,500. The number of sales for March, when compared to 2022, fell significantly, dropping from 640 to 446 representing a year-over-year decrease of 30%.
March is the sixth consecutive month that the number of year-over-year sales has dropped in Brooklyn by at least 12%. On a positive note, the decrease fared favorably when compared to the 38% drop in year-over-year sales from February 2022.
What exactly does $699,000 get you in Brooklyn? Let’s take a closer look.
Apartment 4-B at 460 East New York Avenue is a two-bedroom duplex with a private roof terrace in a newly built condominium. The boutique building rises four stories and contains eight apartments. Even at four stories, the building stands tall above its townhouse neighbors.
460 East New York Avenue is located in the Wingate neighborhood of Brooklyn between New York Avenue and Brooklyn Avenue five blocks east of Prospect Park. The block is largely residential with a multitude of modest two-story townhomes. 460 is one of several newer structures that have replaced the smaller properties along this stretch of East New York Avenue.
Apartment 4-B is a 813 square-foot two-bedroom, two bath unit with plentiful light. The apartment provides four rooms and two outdoor spaces. On the primary floor there is a full open kitchen that leads into the living/dining area. There is a comfortable balcony off the living area. There is a bedroom as well as a full bath on this floor. The second floor offers a second bedroom with an en suite bath and the private roof (18’6”x17’6).
The apartment has a clean contemporary feel. Features include oversized Pella windows, wide plank flooring, central heating and cooling and recessed lighting.
The open kitchen offers stone countertops and backsplashes, custom designed cabinets and a suite of stainless steel appliances.
460 East New York Avenue is a non-elevator building. Security is provided via a video intercom. There is dedicated private storage in the basement.
At $699,000, apartment 4-B sold for $859 per square foot.
The Sterling Street subway station, which services the 2 and 5 (weekdays only) trains, is located at the corner of Nostrand Avenue and Sterling Street. This is about an eight minute walk. Apartment 4-B at 460 East New York Avenue was first introduced to the market in October 2022. It went to contract four months later in February 2023, The closing price was the same as the original ask. The building is being represented by Deborah Rieders and Dario Nolfi of Corcoran. Please visit Linecity for more details.