Sound legal advice and representation for clients throughout New York.
877-791-8076
Law Offices of Louis D. Stober, Jr., L.L.C.
We provide experienced employment/discrimination, personal injury, probate and estate planning, traffic violations, and real estate law representation from our Mineola office.
View Our Legal Services

Real estate transactions boom in Brooklyn

Reports indicate that the purchase and buying of properties was strong toward the end of 2017 in the area of Brooklyn, New York. This applies to both residential and commercial real estate transactions. The market was strong in Brooklyn even though some other markets in New York stumbled during this same time period.

The median price for a home in Brooklyn jumped 2.7 percent from the previous year, rising to about $770,000. This is the third-largest price hike recorded in this borough of New York City. The record happened to be set earlier in the year, in 2017's second quarter, when the price rose to a whopping $795,000.

In addition, apartments in Brooklyn neighborhoods have seen huge gains compared with several years ago. Historically, just about everything in the area was below $500,000. Back in 2012, over half of the apartment buildings in the borough were listed under half a million dollars. Meanwhile, during the final three months of the year, only 22 percent of apartment listings were under this threshold.

Engaging in residential and commercial real estate transactions can understandably be exciting, but it can also be intimidating and overwhelming. Every deal is different, and unfortunately, a single mistake that may seem small initially can lead to costly hiccups that might cause a deal to fall through altogether. A qualified real estate attorney in New York, however, can offer the guidance needed to navigate even the most complex of deals so that a buyer can achieve his or her unique real estate goals in the Empire State.

Source: nytimes.com, "Brooklyn Real Estate Prices Climb Higher", Stefanos Chen, Jan. 11, 2018

No Comments

Leave a comment
Comment Information
REQUEST AN APPOINTMENT »

Discover explore additional resources

Contact Our Employment Law And Personal Injury Attorneys

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

See Louis D. Stober featured in the LI Pulse - Top Legal Eagles of Long Island 2012 – 2016

98 Front Street | Mineola, NY 11501 | Toll Free: 877-791-8076 | Fax: 516-742-8603 | Map & Directions