Brooklyn | December 2022

By Linecity, February 13, 2023

According to New York City records, the median price for an apartment in Brooklyn in the month of December 2022 was $729,000.  The price represents a 5.6% dip from last year’s median of $775,000.  The number of sales also dropped, plunging from 575 to 465 representing a year-over-year decrease of 19.1%.

What exactly does $729,000 get you in Brooklyn?  Let’s take a closer look.

Apartment 703 at 9956 3rd Avenue (aka The Narrows Condominium) in Fort Hamilton, Brooklyn is an open concept one bedroom with a private terrace.

The Narrows is a new ground-up condominium located on a quiet residential street just off Shore Road and within a stone’s throw distance to Shore Road Park.  The building, with its floor-to-ceiling windows and protruding balconies, offers a bit of glam in a neighborhood dominated by older low-rise structures, single and two-family homes.  The Verrazano Bridge can be seen from the front door as well as from the building’s skydeck. 

Apartment 703 is a spacious one bedroom apartment (725 square feet) with plentiful natural light. Features include the terrace, high ceilings, dramatic multi-panel floor-to-ceiling windows, wide plank oak flooring, washer/dryer and an open kitchen with an eat-in peninsula.

The kitchen exudes elegance.  Design elements include Caesarstone slab countertops and backsplashes, custom built cabinetry and millwork by Scavolini and integrated premium appliances.  The wide plank flooring extends into the space.

The Narrows rises eight floors and contains 40 apartments.  The building maintains a full-time doorman. For a small building, there are a multitude of amenities.  The top draw is a sky deck with a heated outdoor pool, furnishings and spectacular views.  Additional features include a lobby fireplace with seating, fitness center, private storage, bike storage and deeded garage parking. 

At $729,000, the apartment sold for $1,005 per square foot.  The average price per square foot for the 23 units sold in 2022 was $1032.

The MTA B63 bus stops at the corner of 3rd Avenue and Shore Road and ends at Brooklyn Bridge Park/Pier 6 via 5 Avenue. Apartment 703 at 9956 3rd Avenue was first introduced to the market in June 2022.  The building is being represented by David Fernandez and Andrew Appell of Serhant.  Please visit Linecity for more details.