Crown Heights, without question, is in the midsts of a rapid transformation, as both condo prices and land prices have about doubled in the last two years,” writes the New York Times.
So now the paper is writing all about the neighborhood they seem to regard as somewhat unknown, possibly dangerous, but definitely gentrifying— a neighborhood poised to welcome some 1,250 units in two-dozen residential projects in the coming years.
A lot of the new residents will be in their late 20s, early 30s who have the finances to pay an additional couple hundred dollars a month to own a piece of property, versus renting, Boaz Gilad of Brookland Capital told the paper.
Another group will be families who may have wanted to buy in neighborhoods like Park Slope and Carroll Gardens, but because of budget constraints, landed in a townhouse in Crown Heights at half the cost, said Gilad.
So, basically, if you’re hoping to score a real estate asset in Crown Heights in the next year or two, you better act fast: Once the Times says “you’ve got next,” it’s off to the races.