As home prices cool in the Manhattan market, the Brooklyn market remains on fire with prices in some neighborhoods soaring to Manhattan highs.
On the one hand, migration of buyers fleeing Manhattan’s market have driven up demand in the borough. While on the other, builders descended on Brooklyn when rezoning when made prime waterfront property in Williamsburg available for residential development.
Williamsburg — and North Brooklyn, in general — remain hot markets, although prices have fallen due to the impending 18-month shutdown of the L-train. Up and coming neighborhoods like Greenpoint, Crown Heights and Bushwick are seeing an influx of new construction and simmering demand.
And while Brooklyn home prices are competitive in comparison to Manhattan, competition among buyers remains fierce as affordability erodes and some shoppers turn to nearby Queens for more affordable housing.
Here’s a brief round-up of what’s currently available in the greater Brooklyn new condo market with a budget of $5 million, or less.
1. Pierhouse at Brooklyn Bridge Park (Brooklyn Heights)
Pierhouse at Brooklyn Bridge Park was developed by Toll Brothers City Living and Starwood Capital. It is located at 90 Furman Street and houses a total of 106 units, with sizes ranging from 2,916 square feet to 4,885 square feet.
Situated on prime waterfront property, most units feature double-height ceilings in living rooms and homebuyers can choose from one-to-five-bedroom floor plans — many with outdoor patio space.
In the kitchen, buyers will find top-notch Gaggenau appliances and honed Calacatta Tucci marble countertops, as well as solid walnut cabinets for a sleek, modern look. The master bath features a deep standalone tub and walk-in glass shower for a true spa-like experience.
Amenities include: a pet washing station, a children’s playroom, rooftop bar, rooftop pool and a full fitness center.
Pricing for available units starts at $3.4 million.
2. Polhemus Residences (Cobble Hill)
The Polhemus was the first “skyscraper” hospital ever built. It has been redeveloped into the Polhemus Residences by Fortis Property Group. It houses 17 units, with sizes ranging from 2,235 square feet to 2,281 square feet.
Polhemus Residences was designed by BKSK Architects with interiors by ASH NYC. Units feature window heights that soar up to 11 feet and voluminous ceilings reaching up to 21 feet. In addition to private gardens and harbor views, residences include oak staircases with satin nickel trim, a suite of Gaggenau appliances and radiant-heated floors in the master bath.
Amenities include: on-site parking, concierge service, rooftop lounge with cabanas and a fitness duplex.
Pricing for available units starts at $3.5 million.
3. 43 Meserole Street (Williamsburg)
43 Meserole Street was built by The Pros Developments, and designed by City Building NY Architect. The boutique building houses a mix of eight beautifully modern and spacious residences in one- to two-bedroom floorplans, including three stunning duplex units. Some residences also include private outdoor space, such as an outdoor kitchen or terrace with more than enough space for table seating.
The residences at 43 Meserole have many exquisite design features that homebuyers are sure to love, including high ceilings, a washer and dryer in every unit, built-out closets for extra storage space, and vintage-style bathrooms with wet rooms and cast iron clawfoot tubs.
Pricing for available units starts at $759,000.
4. The Greenpoint (Greenpoint)
Located on the waterfront at 21 India Street, The Greenpoint houses a total of 95 units, ranging in size from 723 square feet to 1,443 square feet. It is being developed by Palin Enterprises, Mack Real Estate Group and Urban Development Partners.
The one- to three-bedroom residences offer spectacular views, open spaces and an abundance of natural light. The building is a short walk from The NYC Ferry, providing easy and fast commutes to Midtown and Downtown Manhattan.
Amenities include: on-site parking, a basketball court, sun deck and a yoga studio.
Pricing starts at $1.1 million.
5. 200 Water Street (DUMBO)
200 Water Street was developed by Urban Realty Partners (NYC) and Megalith. It has 15 units in total, ranging in size from 1,867 square feet to 2,573 square feet. 200 Water is the last residential building to be developed on this landmarked cobblestoned street.
Residences have ceiling heights of 12-feet and seven-inch prime grade radiant heated Siberian white oak flooring.
The penthouse has floor-to-ceiling windows and a private rooftop deck.
Amenities include: a landscaped common garden and a fully attended lobby.
Pricing starts at $2.8 million.
6. 50 Greenpoint (Greenpoint)
The residences come pre-wired for Verizon FiOS, have a washer and dryer in-unit, and feature high efficiency heating and cooling systems by Daikin.
Amenities include: a pet spa, on-site parking, a package room and a resident’s lounge.
Pricing starts at $699,000.