According to New York City records, the median price for an apartment in Brooklyn in the month of July 2023 was $785,000. The price represents a 5% drop from last year’s median of $827,000. The number of sales for July, when compared to 2022, fell dramatically, dropping from 638 to 455 representing a year-over-year decrease of 29%.
July is the tenth consecutive month that the number of year-over-year sales has dropped in Brooklyn by double digits.
What exactly does $785,000 get you in Brooklyn? Let’s take a closer look.
Apartment 4-R at 454 11th Street is a delightful floor-through apartment with plentiful light and a private roof deck. This top floor residence offers four spacious rooms, all of which have windows. The fourth room, which is located off the kitchen, can be used as a dining room, home office or a den. Apartment features include: high ceilings, deep crown moldings, long plank floors and a decorative fireplace.
The kitchen sits in the middle of the residence, just off the versatile fourth room. The renovated kitchen is replete with white stone counters, gray lacquered cabinets, stainless steel appliances and a subway-tiled backsplash. There is a window above the farmhouse sink.
The roof deck runs the full length of the apartment, measuring 11 feet wide and 57 feet deep.
To make this home even more enticing is the extremely low monthly maintenance of $657.
454 11th Street is a pre-war four-story building located on a classic Park Slope block between 6th Avenue and 7th Avenue. The timeless red brick building contains eight apartments, two floor-through units on each floor. The co-op offers private storage, a bike room and common laundry facilities. This is a walk-up building
The area is serviced by the F and G subway lines at the intersection of 9th Street and 7th Avenue. The B67 and B69 bus lines run along 7th Avenue.
Apartment 4-R was first introduced to the market in April 2023 at $750,000. In less than two months, this unit was under contract. The $785,000 closing price represents a 4.7% hike above the original ask.
Joanna Mayfield Marks of Brown Harris Stevens represented ownership. Please visit Linecity for more details.