Brooklyn | October 2022

By Linecity, December 20, 2022

According to New York City records, the median price for an apartment in Brooklyn in the month of October 2022 was $735,000. The price represents an increase of 4.1% from the median price of $704,687 recorded in October 2021. The number of apartment sales, however, slipped from last year, falling from 514 to 447, representing a year-over-year decrease of 13%.

In September, some 594 apartments sold in Brooklyn; the median price was the same as October, $735,000. In August, the median price was $775,000 as 648 apartments closed.  When comparing October to August, the number of apartment sales in Brooklyn fell 31% while the median price has fallen 5.2%.

What exactly does $735,000 get you in Brooklyn? Let’s take a closer look.

Apartment 2-D at 707 Willoughby Avenue in Bedford Stuyvesant is a spacious one bedroom in a new condominium development. The second floor residence measures 701 square feet and features a large open, loft-like living area (33’3”x11’7”) and a huge private terrace (229 sq ft) that runs the width of the apartment.   The unit shares the second floor with just one other residence.

The residence offers wide plank hardwood floors, recessed lighting, oversized windows, a washer/dryer and an open horseshoe-shaped kitchen. The kitchen is both stylish and practical. There is an eat-in peninsula, custom laminate cabinets, white stone countertops, a suite of Blomberg stainless steel appliances and a stunning Calacatta porcelain backsplash that extends to the top of the upper cabinets.   

707 Willoughby Avenue is located in the northeast quadrant of Bedford Stuyvesant, between Throop Avenue and Marcus Garvey Boulevard.  The seven-story structure contains 20 apartments and has a distinct street presence with a two-toned elevation.  Security is provided by a Virtual Doorman. 

Despite its size, the building boasts an assortment of amenities.  These include deeded parking spaces, climate-controlled storage spaces, bike and package rooms, fitness center and a furnished roofdeck.  The deck has an outdoor kitchen, private cabanas and outstanding skyline views.

Apartment 2-D at 707 Willoughby Avenue was first introduced to the market in late May 2022 with an original ask of $750,000.  At $735,000, the average price per square foot was $1048.The listing was represented by Michael Bethoney, Natanel Malkourkian, Michael Desena and Natasha Karaty of Nest Seekers International.  Please visit Linecity for more details and current availabilities.