Condo Prices Fall 18 Percent in Bed-Stuy, Bushwick, Crown Heights: Report
(DNAINFO) Camille Bautista | January 15, 2016 — The average price for a condo came in at $570,000, 18 percent less than the year before.
Condo prices in central Brooklyn plunged by 18 percent at the end of 2015, according to a real estate report from The Corcoran Group.
The average price for condos in Bedford-Stuyvesant, Crown Heights, Prospect-Lefferts Gardens and Bushwick came in at $570,000 for the last quarter of the year, compared to $697,000 for the same period in 2014, the real estate group said.
Corcoran attributed the dip to the fact that 2014 saw a seven-year record high, which was in large part due to new development, according to Mark Martov, a Corcoran real estate agent for Bed-Stuy and Bushwick.