Brooklyn’s real estate landscape is evolving at a rapid pace. From trendy Williamsburg to the classic brownstones of Park Slope, the borough is a melting pot of cultures, creativity, and opportunity. Here, Don Mastroianni and Mike Smith—Managing Partners of The Agency’s newly opened Brooklyn Park Slope office—share their insights on what’s driving buyers to Brooklyn today, the neighborhoods making waves, and the vibrant lifestyle that keeps the borough buzzing.
Brooklyn has changed a lot over the years. What does today’s Brooklyn look and feel like?
DON: Today’s Brooklyn is a vibrant blend of old and new, it has diverse neighborhoods offering a mix of historic charm and modern amenities. You’ll find trendy cafes, artisanal shops, and a thriving arts scene alongside iconic brownstones and waterfront parks.
Why are buyers drawn to the area today?
MIKE: In addition to its proximity to Manhattan, some of Brooklyn’s recent developments, many of which are converted warehouses to apartment complexes, buyers and renters get more bang for their buck with luxury building amenities and more apartment space than what’s typically offered in Manhattan.
Brooklyn has a lively cultural scene, diverse neighborhoods, and a strong sense of community. The borough is known for its historic charm, trendy dining spots, eclectic vibe, and thriving arts and entertainment venues. These factors contribute to Brooklyn’s allure, drawing buyers looking for a dynamic urban lifestyle enriched with local flavor and creative energy, all while offering a slightly more relaxed pace compared to Manhattan.
Who is buying property in Brooklyn right now?
DON: First-time buyers, remote workers, commuters to NYC, and families.
Trends have shown increased interest from young professionals and families seeking urban living outside Manhattan, as well as from international buyers looking to invest in New York City real estate.
Have you seen any increase in buyers or renters from a certain region?
MIKE: Trends have shown increased interest from young professionals and families seeking urban living outside Manhattan, as well as from international buyers looking to invest in New York City real estate. Factors like Brooklyn’s cultural appeal, relative affordability compared to Manhattan, and its status as a center for innovation and creativity have contributed to its attractiveness.
What Brooklyn neighborhoods are attracting buyers most right now?
DON: Areas like Williamsburg continue to draw attention with their trendy vibe, waterfront views, and vibrant nightlife. Brooklyn Heights and DUMBO are sought after for their historic charm, scenic views of Manhattan, and proximity to cultural amenities. Prospect Heights and Park Slope are popular for their family-friendly environments, excellent schools, blossoming landscape, and beautiful brownstone-lined streets.
What activities are popular with Brooklyn residents and visitors?
MIKE: Brooklyn residents and visitors enjoy exploring diverse food markets like Smorgasburg, where they can sample local and global cuisines on Sundays from April to October. Cultural hotspots such as the Brooklyn Museum and BAM (Brooklyn Academy of Music) draw crowds with art exhibitions and live performances.
For outdoor enthusiasts, Prospect Park and Brooklyn Bridge Park offer ideal settings for activities and stunning skyline views. The Barclays Center further enriches Brooklyn’s vibrant music scene with a variety of events. Craft breweries and vibrant street art add to the borough’s dynamic atmosphere, ensuring there’s always something new to enjoy.
What’s the food scene like in Brooklyn?
DON: The food scene in Brooklyn is incredibly diverse and exciting! You can find everything from world-class restaurants to hole-in-the-wall eateries serving up a wide range of cuisines. Social media trends are also sending a lot of the foodies to Brooklyn to check out these eclectic hot spots.
New residential developments, especially in Gowanus, are expected to reshape Brooklyn’s real estate landscape by bringing in more housing options and potentially increasing property values.
What parks and public spaces are must-visits?
MIKE: Prospect Park is a gem with its sprawling greenery, lakes, and the iconic Prospect Park Zoo. Prospect Park is a must-see in early April when its cherry blossoms are in peak season. Brooklyn Bridge Park offers stunning views of the Manhattan skyline, recreational activities like kayaking, and fantastic events throughout the year.
Brooklyn Botanic Garden is a haven with its diverse plant collections and serene landscapes. Additionally, McCarren Park in Williamsburg is popular for its sports facilities and lively community events.
Are there any new residential developments on the horizon? And how do you anticipate their arrival will change the real estate market in Brooklyn?
DON: New residential developments, especially in Gowanus, are expected to reshape Brooklyn’s real estate landscape by bringing in more housing options and potentially increasing property values. This expansion could attract a diverse mix of residents seeking bigger and more modern living spaces, as well as convenient urban amenities.
What are your predictions for real estate in Brooklyn? What can we expect to see this year and into the future?
MIKE: In the coming year and beyond, we anticipate continued growth and evolution in Brooklyn’s real estate market. We can expect to see ongoing demand for housing in desirable neighborhoods like Williamsburg, Park Slope, and Gowanus, driven by their unique amenities and accessibility. With increasing interest from buyers and developers, new residential and mixed-use developments are likely to reshape the skyline and offer a wider range of housing options.
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