Courtesy of Curbed NY and Mansion Global, get a glimpse of a modern kitchen in Brooklyn, NY.
Famous for its brownstones, people from all over the world are paying big bucks to buy or live in Brooklyn.
Some call it the Brooklyn boom.
Once blighted neighborhoods like Bedford Stuyvesant have turned into prime real estate.
Some say Brooklyn has replaced Manhattan as the place to be.
And that’s not just because of Barclay Stadium.
New data suggests that brownstone prices in Brooklyn could continue to reach new heights. The median price for a brownstone sold in the second quarter of this year was a record $2,589,500, up 38.8% compared with the same period in 2014, according to a new report from real estate brokerage Douglas Elliman. The average sales price rose 21.2% in the same period to a record $2,898,551. Meanwhile, the number of brownstone sales fell 51% compared with the previous year as a result of lower inventories.
To buy a brownstone in need of renovation, expect to pay at least 1.8 million.
One fully renovated will set you back 3 million.
What’s causing the rise in price? Demand.
Some reports say to build a brownstone from scratch could cost five million dollars.
So it makes sense to buy a one point eight million dollar brownstone and pour one point five million in renovation costs into it to make it brand new.
If you’re looking to rent, the pictures above show what 7,000 dollars gets you.
In Fort Greene section of Brooklyn a three bedroom apartment with two floors, private backyard, bathrooms, washer and dryer is asking seven grand a month.
Same price for a short term two bedroom townhouse rental in Boerum Hills.
There’s no question life is not easy and getting tougher every day living in the Big Apple.
At least we have these beautiful kitchen to look at and enjoy.