Midtown skyline from Central Park (via Douglas Elliman, 129 West 80th Street, #4)
2021 was a smashing year for New York City real estate — that is, unless you were a commercial office landlord, a retail store in a business district, or a hotel in Times Square. On the residential end, however, few sectors performed better than Brooklyn's condo market, where ten neighborhoods saw record average closing prices and the average price of a Brooklyn condo surged 16 percent to a record price of $1.21 million ($1,176 per square foot).
A borough away, overall Manhattan condo prices are still down from pre-pandemic levels. They came in at an average of $2.6 million ($1,681 per square foot) in 2021 as compared to $2.9 million ($1,816 per square foot) in 2019, representing a 10 percent difference. Still off from the heady days of 2016, only one Manhattan neighborhood broke records: Morningside Heights, largely due to the closings at Vandewater, one of the only condo buildings in the neighborhood and the sole new development offering over the past decade.
Throughout New York, the biggest gainers were the rapidly gentrifying neighborhoods of South Slope, Crown Heights, Downtown Brooklyn, and Prospect Lefferts Gardens. If our hesitant developers and unmoved City Planning Department don't provide more supply to market, expect these prices to increase further and spread to more affordable areas of the city.
A borough away, overall Manhattan condo prices are still down from pre-pandemic levels. They came in at an average of $2.6 million ($1,681 per square foot) in 2021 as compared to $2.9 million ($1,816 per square foot) in 2019, representing a 10 percent difference. Still off from the heady days of 2016, only one Manhattan neighborhood broke records: Morningside Heights, largely due to the closings at Vandewater, one of the only condo buildings in the neighborhood and the sole new development offering over the past decade.
Throughout New York, the biggest gainers were the rapidly gentrifying neighborhoods of South Slope, Crown Heights, Downtown Brooklyn, and Prospect Lefferts Gardens. If our hesitant developers and unmoved City Planning Department don't provide more supply to market, expect these prices to increase further and spread to more affordable areas of the city.
In this article:
Manhattan and Brooklyn neighborhoods that reached record condo prices in 2021
Bedford-Stuyvesant | 2021's Condo Average: $902 /ft2 (+3% since 2019)
From the Listing: From high ceilings, exposed brick, and white oak flooring to central A/C, in-unit washer/dryer, and lots of storage, no detail has been overlooked in this two-bedroom apartment. The kitchen is renovated with room for a dining table. The living area has room for a couch and additional seating. Both bedrooms can fit queen beds and are extra deep for additional storage. The bathroom has a double vanity with modern tiling. See floor plan and full details here.
From the Listing: Residence 4F is a well-proportioned two-bedroom, one and a half-bathroom optimally laid out with the consumer in mind. A calculated, collaborative effort between a seamless blend of unique textures and styles, paired with tasteful neutrality works harmoniously to implement an ideal composition. Upon entry, your attention is drawn to the solid oak floors, detailed with elements inherently natural to the species of wood. The kitchen achieves a notable sense of intention, implemented through a collection of complementary tones and materials. The south-facing living room is substantial in size, contributing to an uninterrupted transition between living and dining space. See floor plan and full details here.
Fort Greene | $1,199 /ft2 (+3.2% since 2019)
From the Listing: Perched up in the sky with a stunning panorama view of all of Brooklyn, unit 17C at 230 Ashland Place is a 2-bedroom 2-bathroom apartment worthy of being called a home. Taking an already grand and rare open concept layout, the owners of this lovely unit built a brand new kitchen and added a coveted center island to make cooking and entertaining a true delight. The ample living space boasts tall ceilings and a wall of windows with sweeping east, south and western exposures ushering in unobstructed sunrises and sunsets each day. See floor plan and full details here.
From the Listing: Mint, high-floor convertible three-bedroom condo at the iconic One Hanson Place! This stunning apartment is unquestionably the very best laid-out and most spacious two-bedroom apartment in the very best pre-war luxury condo in Brooklyn. It is also one of the most tastefully finished units around. The open kitchen features Viking appliances, a pantry, lava stone counters, and a breakfast bar. Big, custom closets in every room, 10.5-foot ceilings above, chestnut strip flooring below, and custom finishes throughout, all sealed in by noise-blocking concrete walls, floors, and ceilings. Abated taxes until 2024. See floor plan and full details here.
Clinton Hill | $1,032 /ft2 (+7.5% since 2019)
From the Listing: Welcome to 970 Kent Avenue #111, a spacious two-bedroom, two-bath in The Kent. This once industrial factory transformed into a beautiful luxury building still has much of its industrial characteristics throughout. The apartment features 12-foot ceilings and oversized windows that overlook the building's courtyard. The open kitchen is newly renovated and features stainless steel appliances, plenty of cabinets for storage, and a center island that is great for preparing food and entertaining. Off the kitchen is an alcove that makes for a great work-from-home space. See floor plan and full details here.
From the Listing: Floor-through exposure in this unit provides excellent light throughout the day, and it has a west-facing private terrace which overlooks the interior courtyard and gets incredible late daylight. The kitchen features oak rift-cut soft close cabinets, Caesarstone countertops, all-new appliances, and a Nest temperature control system. The bathrooms have Villeroy & Boch basins and cabinets as well as Neptune soaking tubs; and the primary bathroom has both a bathtub and a large shower room. See floor plan and full details here.
Park Slope | $1,268 /ft2 (+8.7% since 2019)
From the Listing: Spacious yet cozy two-bedroom, two-bath condo with a dedicated home office space and two private outdoor spaces is in a sought-after elevator condo with a stunning common roof deck in an prime South Slope location. A small entry foyer off the convenient first floor entrance provides a welcome spot for coats and bags before the home opens up to the lovely living space beyond. A renovated kitchen with a suite of stainless steel appliances, charming open shelving and plentiful counter and cabinet space offers plenty of room for two to cook together, while an additional deep pantry ensures you have a place for everything. Adjacent to the kitchen is ample space for dining with a lovely covered outdoor patio. 421-a tax abatement expires in 2033. See floor plan and full details here.
From the Listing: Bright and airy, this two-bedroom condo with one and a half bathrooms is a wonderful opportunity to live or invest in prime north Park Slope. This charming second-floor unit has large and plentiful windows with both eastern and western exposures for sun all through out the day. The front room, vast and airy, provides an open living and dining area, spacious for either entertaining or intimate evenings at home with your family. The partially open kitchen is efficiently laid out with wood cabinets, granite counter tops, dishwasher, and ventilation to limit any strong cooking scents. See floor plan and full details here.
From the Listing: Enter this Park Slope home into a loft-like living room with high ceilings, beautiful hardwood floors, huge windows and super bright southern exposure. The open kitchen is perfectly proportions and features stainless steel appliances, amazing cabinets and ample counter space. Enormous bedrooms are at the opposite end with lovely sun dappled views over lush landscaped gardens. Let's not forget that little slice of heaven in the form of your very own private terrace! See floor plan and full details here.
DUMBO | $1,476 /ft2 (+13.8% since 2019)
From the Listing: There is limited inventory of Penthouses that remain for sale at 98 Front. The imported Italian kitchen is a clean organic palate paneled in blonde wood complimented by modern white Corian countertops and backsplashes. Designed with day-to-day living as well as entertainment in mind, residents enjoy top-of-the-line Bosch appliances, including a paneled refrigerator and dishwasher, gas cooktop, convection oven and speed ovens; and Grohe faucets and soap dispensers. Two spa-like bathrooms boast radiant heat flooring, oversized showers or Maax tubs, custom Laufen sinks, vertical recessed medicine cabinets, large format tiles, brushed nickel fixtures and floating oak shelving. See floor plan and full details here.
From the Listing: Spacious home in a former factory building has wonderful southern light streaming in through large windows. This home features an open chef’s kitchen with top-of-the-line stainless appliances, 11-foot tall exposed beam ceilings, a modern elegant bathroom with working whirlpool bathtub and separate shower, laundry/utility room with washer/dryer, bamboo floors, Central A/C, and ample closets. See floor plan and full details here.
Brooklyn Heights | $1,546 /ft2 (+14.2% since 2019)
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From the Listing: The Symon takes inspiration from the celebrated heritage of Brooklyn Heights and marries rich, natural materials with classic detailing for timeless yet fresh interiors. #9D is a three-bedroom, two-bathroom, 1,307-square-foot home perfect for a variety of lifestyles. A large gallery and elegant foyer, adorned with a diamond pattern inlaid oak wood floor, leads to an open living/dining room with three oversized windows facing north. This home boasts a superb chef's kitchen, complete with a marble-clad breakfast peninsula, Studio DB designed cabinetry, a white Statuarietto marble slab blacksplash and white dove quartz countertops. This home has a nice division of common and private spaces with the three bedrooms in their own south-facing bedroom wing. See floor plan and full details here.
From the Listing: Located in the historic Peaks Mason Mints Building, this stunning loft apartment has it all! The sunlit main living area boasts soaring 12-foot ceilings, bright oversized, industrial style windows, striking 8-inch-wide distressed oak floors and beautiful exposed original timber beams and columns. The vast open chef’s kitchen features a massive island, abundant custom cabinetry, and top-of-the-line Bosch stainless steel appliances. See floor plan and full details here.
Prospect Lefferts Gardens | $895 /ft2 (+15.5% since 2019)
From the Listing: Be the first to live in this beautiful south-facing one-bedroom, one-bathroom home! This residence is outfitted in modern, natural finishes: white oak hardwood floors run throughout, while matte white cabinetry and polished white quartz kitchen countertops create a light, airy feel. In the bathroom, white subway tiles and Moen fixtures present a pristine finish. Convenient modern appliances include Beko refrigerator, Whirlpool dishwasher, and in-unit Whirlpool washer and dryer machine. See floor plan and full details here.
From the Listing: Snatch up this great one-bedroom before it’s gone! The high-end kitchen is finished in a clean, spacious layout, and features top-of-the-line appliances, generous storage space, and large breakfast bar islands. Additional features include in-unit washer/dryer and a private balcony off the living room. Parking and storage are available for purchase. See floor plan and full details here.
Downtown Brooklyn | $1,429 /ft2 (+15.6% since 2019)
From the Listing: Prepare to be amazed by the floor-to-ceiling glass windows all around you, bringing amazing, warm sunlight beaming in throughout this high-floor home. The oversized main level features an open gourmet kitchen with hidden, wood-panel covered appliances, a generous dining area with amazing Lower Manhattan views, a full bath, and a living space designed for entertaining, along with ten-foot ceilings and Brazilian walnut hardwood floors throughout. See floor plan and full details here.
From the Listing: This spacious three-bedroom, two-bath home with a unique layout in the building boasts triple exposures and panoramic views hard to come by anywhere else.
As you step foot into this gracious residence, you will find an elegant foyer entrance with a wall of closets on one side - stackable Bosch washer/dryer, storage shelving and a coat closet - and a gallery wall opposite where art lovers can display some of their favorite pieces. The foyer opens up to a grand living and dining space of generous proportions where you simply remain mesmerized by the postcard views of Downtown Manhattan, One World Trade Center and the Statue of Liberty. The gourmet kitchen beautifully integrates into the living and dining space. See floor plan and full details here.
From the Listing: This high-floor unit with a north and west-facing private terrace is bathed in natural light boasting Manhattan and Downtown Brooklyn skyline views including both the Empire State Building and the Statue of Liberty. As you enter the home, you are greeted with a huge sunny living room that opens onto the terrace and the gorgeous new kitchen. The terrace is large enough to accommodate a dining table along with multiple seating options for al fresco entertaining and enjoyment. All three bedrooms are large and can easily accommodate a king or queen-sized beds. See floor plan and full details here.
From the Listing: Form and function meets style, luxury and location. Residence 12Q is a beautiful south-facing 1-bed/1-bath apartment with oversized windows, pristine light, harbor views, 10' ceilings and designer kitchen and bathroom. The home includes Viking, Sub-Zero, Thermador and Bosch appliances as well as a Bosch washer and dryer. In addition, you can relax after a hard day's work in your spa-like bathroom that's fully equipped with a Jacuzzi tub and separate stall shower. See floor plan and full details here.
Crown Heights | $971 /ft2 (+18.5% since 2019)
From the Listing: Set just one block from the Brooklyn Botanic Garden, 1015A President is a remarkable new 8-unit condominium offering soothing one and two-bedroom homes in blossoming Crown Heights. Enter to discover a sumptuous living and dining area boasting stunning light oak hardwood flooring and sliding glass doors leading to a private patio. The windowed kitchen boasts elegant custom cabinetry in a striking matte finish, Taj Mahal quartzite countertops, and high end appliances by Bertazzoni, Bosch, and Blomberg including externally vented exhaust hood. The spa-like primary bath has a beautiful floating vanity and large walk-in shower also offers radiant heated flooring and contrasting matte black fixtures. See floor plan and full details here.
From the Listing: Enjoy more than 1,531 square feet of living space with an additional 740 square feet of private outdoor space! As you enter this apartment, you are immediately greeted with tons of natural light flowing from the three large windows creating an airy and welcoming setting. The living and dining room spaces evoke old New York charm with their Romanesque windows, high ceilings, recessed lighting, wood flooring and baseboard molding. The recently updated open kitchen features modern grey cabinetry with gold pulls along with stone countertops and stainless steel appliances. See floor plan and full details here.
From the Listing: Come home to your own private parking spot and natural light streaming all day through the southwest-facing windows of this modern and well-equipped three-bedroom, two-bath Crown Heights home! Enter a sunny, large open-concept living space whose seamless flow starts with a chef’s kitchen equipped with stainless steel appliances including an induction oven. White soft-close cabinets and drawers provide abundant storage and Caesarstone countertops complement the calm and clean aesthetic. See floor plan and full details here.
South Slope - Greenwood Heights | $1,109 /ft2 (+21% since 2019)
From the Listing: A keyed elevator opens directly into this expansive, impeccably design 1,401-square-foot two-bedroom, two-bath home deeded with a private storage room. The designer kitchen designs are highlighted by gray Ceaserstone kitchen countertops and backsplash, complete with white custom cabinetry and kitchen plumbing fixtures by Riobel. The primary bathroom features Riobel fixtures in polished chrome and Calacatta porcelain tiled walls and floors, and white subway wall tile finished with Carrara marble floor tiles complete the secondary bathroom. See floor plan and full details here.
From the Listing: 259 21st Street was built as a grammar school circa 1901 and converted to a condominium in 2004. This generous loft in the building has been elegantly and thoughtfully renovated to maximize the space while retaining the open feel. There are two separate bedrooms on the second floor, and the third bedroom is on the main floor. The open kitchen has custom made cabinets and a Viola Park Island with a butcher block countertop, a Bosch dishwasher, a GE Profile fridge and stove, and a Grohe faucet. See floor plan and full details here.
Morningside Heights | $1,692 /ft2 (+49.5% since 2019)
From the Listing: This 770-square-foot unit with double exposures offers eight windows facing north and east with a large windowed kitchen and generous closet space. The elegant kitchens offers honed Perla Venata kitchen counters, chef caliber Miele appliances and custom, craftsman inspired oak cabinetry with pewter hardware. The primary bath is outfitted with honed Windsor Cream marble, soaking tub, large shower with frameless glass enclosure, pewter fixtures, and custom oak and travertine vanities. Additional features include the latest HVAC technology from Climatemaster, laundry equipment from Whirlpool or GE, and recessed LED lighting. See floor plan and full details here.
From the Listing: This sun-flooded, spacious corner three-bedroom condominium enjoys a prime location in Morningside Heights near Columbia University. On the southwest corner of the building, the 9’6" ceiling heights usher in light in every room and the enormous, double-paned picture windows provide an exciting cityscape from the corner living/dining room.The open plan kitchen, also light-filled, includes a Sub-Zero fridge, Viking range, ample cabinetry, Basaltina countertops and a custom glass tile backsplash. See floor plan and full details here.
Would you like to tour any of these properties?
Just complete the info below.
Or call us at (212) 755-5544
Would you like to tour any of these properties?
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