Brooklyn is the second priciest borough, according to an analysis of ZIP codes by Property Club. Bushwick and East Williamsburg made it in the first half of the most expensive ZIP codes citywide.
Brooklyn closed the first-half (H1) of 2019 with 2,783 house sales across 30 ZIP codes. The sales amassed a combined total of $3 billion and the median sale price was $950,000.
Williamsburg (11211) ranked at #40, with a median sales price of $1,010,000; East Williamsburg and Bushwick (11237) ranked #43 with a median sales price of $999,000.
Brooklyn Community Board 1, where the neighborhood of Williamsburg is, listed affordable housing as a “critical need” in its District Need Statement for the 2020 Fiscal Year statement.
The statement includes a request from the Department of Housing Prevention and Development to “create a new [$10 million] fund for affordable housing and infrastructure” to address the crisis.
The District Needs Statement also emphasizes that “[h]otel growth has led to the gentrification and homogenization of our communities, and it has inflated rents and property taxes [and]… crowding out local communities, manufacturing spaces, and affordable housing.”
Over half of Brooklyn’s 18 community boards have listed affordable housing as the top priority in their 2020 Fiscal Year statements.
The most expensive Brooklyn ZIP code is 11231 covering Red Hook, Brooklyn Heights, and Gowanus, with $1,650,000 in median home sales and 71 H1 sales; it ranks 18th overall and the first 16 of 17 ZIP codes are in Manhattan.
The Brooklyn ZIP code with the highest number of H1 sales is 11215, covering Gowanus and Park Slope, where the median home sale is $1, 155,000 and 199 H1 sales; it ranks third overall in H1 sales citywide.
Cover photo by Alex Simpson on Unsplash.
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