February 26, 2018

The Best Neighborhoods To Turn A Profit In Brooklyn Right Now

Investors have flocked to Brooklyn in the past decade, pushing prices to new heights and spurring a flood of commercial and residential construction. Now there is a rental glut and fears of a major oversupply of office space. Last year, investment sales dollar volume in the borough hit approximately $6.3B, down nearly 20% from the year before, according to TerraCRG’s Brooklyn Brooklyn 2017 market report.

“The market, by historic standards, is still very strong; prices did not go down [last year] at all,” said TerraCRG founder Ofer Cohen, adding that the neighborhoods of Kensington, Prospect Lefferts Gardens, Prospect Park South and portions of East Flatbush are where his brokers are spending much of their time.

Read more here.