Report says Brooklyn real estate market is booming

More and more people are moving to Brooklyn, according to a report released by the Real Estate Board of New York. Brokers and developers say they see no signs of the real estate market slowing down.

News 12 Staff

Feb 7, 2006, 11:26 PM

Updated 6,685 days ago

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Report says Brooklyn real estate market is booming
More and more people are moving to Brooklyn, according to a report released by the Real Estate Board of New York.
Brokers and developers say they see no signs of the real estate market slowing down. The board says prices in DUMBO averaged more that $1.2 million last year and development is spreading to locations further away from Manhattan. The report shows places like Bedford-Stuyvesant and Fort Greene are hot commodities.
Local residents say they have noticed the development boom and so has the city. Bedford-Stuyvesant and Fort Greene are about to join the long list of neighborhoods to be rezoned to curb the pace of development.


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