Borough Park at a Glance
Borough Park, one of Brooklyn’s oldest neighborhoods, is currently experiencing a large amount of population growth, but for different reasons than other areas in the borough. Rather than seeing the influx of new residents moving in, Borough Park is experiencing a growth in the size of the families that already live in the area, and these new family members are growing and making the decision to move out but stay local. Borough Park also saw 28,000 new jobs develop between 2009 and 2017, coming at about a 72% increase. The expansion of Maimonides Hospital and several other development projects have certainly contributed to the job and residential influx. The neighborhood is a largely orthodox community with many retail stores and restaurants catering to the community. The neighborhood is serviced by the D trains and several busses as well.
Borough Park is home to one of the largest Orthodox Jewish communities outside of Israel
The Stella and Joseph Payson Birthing Center, Maimonides handles more births than any other hospital in New York State
Nicknamed “Baby Boom Capital” because of high birth rate - most recently 27.9% in 2015
Residential Market: 2018
Avg Residential Rent
$1,898
Avg Price for Condo Sellouts
$298,000
Approx No. of Residential Units in the Development Pipeline
39
Investment Sales: 2018
Total Dollar Volume of Investment Sales
$233,133,008
Avg Industrial/Office Sale PPSF
$503
Avg Multifamily Sale PPSF
$266
Avg Retail/Mixed-Use Sale PPSF
$450
Avg Development Site Sale PPBSF
$207
Additional Demographics: 2015
Avg Household Income
$59,743
Total Population
249,139
Employment Growth (2009-2017)
+72% (28,000)
Transportation
Subways
Buses
B8 B9 B11 B16 B35 B110
Neighborhood Vibes
The main commercial corridor of Borough Park, Thirteenth Avenue, is home to many locally owned shops with long-time family ownership. Many of these stores cater to the Orthodox Jewish community of the area, attracting the loyalty of the neighborhood residents, while also bringing in customers from all parts of the city and other states.
Glatt a la Carte
A highly-acclaimed upscale kosher steakhouse
The Living Torah Museum
This is a group of Orthodox Jewish Museums featuring exhibits and artifacts - this is only location in Brooklyn