Most everyone said it-- supply and demand. Small neighborhood, and I watched many of my ex-Tribeca neighbors cross the bridge (I did so 10 yrs. ago) and buy (and renovate) gorgeous brownstones. Also, living there (and working there as an agent), people (including me) like that you can walk to the city easily (or take a train 1 stop), but in my opinion feels peaceful (quite unlike 1 stop away). Also, amenities abound, including parks, dog runs, and other things people love (Cadman Plaza astroturf field, the Brooklyn Bridge dog run & where dogs congregate behind War Memorial, Dumbo's an easy walk away, as is the Promenade, Barnes & Noble, Trader Joe's, Sahadi's, Movie Theaters, etc.). So, you get peace and quiet, with a local neighborhood feel, with all the amenities of the City (and a few stops to Target, Barclays, and more). So, with all that, it's very in demand. I also personally find that economy and unemployment rates have little impact on NYC (Brooklyn Heights included) real estate. I once read when young that even in the Great Depression, Rolls Royce's and Rolex's were selling. If you want help finding (or selling) a home with a local expert, I'd be happy to help and rebate 5% of my commission to customer AND donate 5% of my commission to the 501c3 charity of your choice after closing with me as agent. Thanks,
Licensed Real Estate Salesperson
Hi Linda. For your overall cost you can raise your price if maintenance (on co-ops) or Carrying Charges & Real Estate Taxes (condos) are low. However, your price would go down if the converse is true, so you'd have to look at the big picture (what is your monthly cost in the end). I have a lovely two bedroom condo near Dumbo I have an offer accepted on this week, brand new for $610,000, with carrying charges and real estate taxes only a few hundred dollars (and, if you like Brooklyn Heights, Dumbo/Vinegar Hill is just on the other side of the bridge). There are still a couple of one bedrooms left in that building for $375,000 with a few hundred cc/ret. Comes with storage room, too. If you want me to look for you and send you some listings, I'll be happy to. I rebate 10% of my commission to the buyer (or customer when selling) at closing. That means on a $500,000 place, you'd get back about $1250 based on a 5% commission paid by the seller. Extra incentive to go with me.
Thanks and if you need help, just touch base with me.
I live in Brooklyn Heights.