Brooklyn's real estate value continues to sustain, with demand extending well into the center of the borough. In addition to the always popular Park Slope, Williamsburg, and Greenpoint, other neighborhoods—including Flatbush, Prospect Lefferts Gardens, and Bed-Stuy—are becoming particularly attractive to buyers in search of the best value and return of investment.
To help ascertain which neighborhoods in the borough buyers should consider this year, we consulted our Brown Harris Stevens Brooklyn and Manhattan agents for their insight on the current market.
Nestled between Bushwick and Williamsburg, East Williamsburg's balance of convenience and demand are among the reasons Jesse Rosenthal recommends the neighborhood. "The fundamentals are there," he said. "Good opportunity mixed with accessible transportation."
For the most value, however, many agents agree it is best to venture farther into the heart of the borough, particularly in the areas surrounding Prospect Park. "The price point and large inventory of single- and multi-family homes will draw people back into the center of Brooklyn," explained Peter Grazioli.
"Neighborhoods like Flatbush, Bed-Stuy, and Bay Ridge have lovely homes and more affordable prices than traditional Brownstone Brooklyn," said Bill Sheppard.
Steven Segretta echoed Sheppard's sentiments, noting the aforementioned neighborhoods also tend to have the lowest price per square foot in the area. He also pointed to the increasingly popular Crown Heights as one worth considering.
"Prospect Lefferts Gardens will provide value for buyers in 2022 because of its proximity to Prospect Park, local attractions (including the Ice Rink/Roller Rink and Brooklyn Botanic Gardens), and the Q train," said Joanna Mayfield Marks. She also noted the neighborhood is just one subway stop away from Park Slope and five from Manhattan.