By Brooklyn Reader

October 21, 2014, 1:06 pm

 

Brooklyn

Clinton Hill posted the highest number of new condominium sales in Brooklyn in the third quarter of 2014 (3Q14), accounting for 35 percent of all condo sales in the borough, according to an MSN Real Estate Report.

Clinton Lofts, 91 Grand Avenue

Clinton Lofts, 91 Grand Avenue

A total of 18 units were sold in Clinton Hill from July 1 to September 30, 2014.  According to MSN, this uptick was due to an influx of units that closed at the Clinton Lofts at 91 Grand Avenue.

Condo sales in Bedford-Stuyvesant, Crown Heights, Fort Greene and Clinton Hill combined accounted for more than 50 percent of total borough sales last quarter.Screen Shot 2014-10-21 at 1.12.59 PM

The quarter’s largest market down-swing was seen in Brooklyn Heights, a result of a significant inventory drop from last quarter as units fill to capacity and await new development openings.

Three-Bedroom units and One-Bedroom units represented 50 percent and 28.85 percent of all sales in Brooklyn during 3Q14, respectively. Screen Shot 2014-10-21 at 1.10.38 PM

The following neighborhoods did not account for any New Development sales during this time: Bay Ridge, Bushwick, Gowanus, Kensington, and Prospect-Lefferts Gardens.

The drastic decrease in the number of sponsor sales in Brooklyn is likely due to the slower maturation of the market in certain more established neighborhoods such as Williamsburg. however with several new developments and conversions in the pipeline this number expected to increase in upcoming quarters, said MSN.


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