A notable increase in new development closings pushed Brooklyn apartment prices to record levels in the first quarter of 2017.

Resale apartment prices may be influenced by tight inventory on the middle to lower end of the market.

Including the world's most expensive residential real estate transaction ever.

The 12,000-square-foot, five-bedroom trophy pad occupies the entire 41st to 43rd floors of the hotel and co-op building.

The residences will be a mix of one- and two-bedrooms, plus two duplexes and a triplex penthouse.

Sales started in August 2013 for the 22-story new development.