Borough Park at a Glance
Borough Park is one of Brooklyn’s oldest neighborhoods. The neighborhood is currently experiencing a significant population growth, yet for different reasons than other areas in the borough. Rather than seeing an 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, a 72% increase. The expansion of Maimonides Hospital and several other development projects have 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 buses as well.
Borough Park had a total dollar volume of $138,686,500 in 2020
The average p/sf for Industrial/Office Buildings were $226 in 2020
The average condo sellout in 2020 was $882,000
Residential Market: 2020
Avg Residential Rent
$1,750
Avg Price for Condo Sellouts
$882,000
Investment Sales: 2020
Total Dollar Volume of Investment Sales
$138,686,500
Avg Industrial/Office Sale PPSF
$226
Avg Multifamily Sale PPSF
$328
Avg Retail/Mixed-Use Sale PPSF
$496
Avg Development Site Sale PPBSF
$274
Additional Demographics: 2020
Avg Household Income
$70,148
Total Population
133,878
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
