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2nd Quarter 2014

QUARTERLY SALES MARKET REPORT


WORDS FROM THE MANAGING DIRECTOR
As Brownstone Brooklyn braces for the industry-projected undersupply of new development inventory, burgeoning neighborhoods
showed strong activity this quarter.
Still, Park Slope was the true pivot point of Brownstone Brooklyns completed sales, accounting for the highest number of sales in the
area.
Market-wide, Brooklyn has registered a modest growth. Not limited to any key neighborhoods in particular, the average year-over-year
growth testifies to the boroughs continued shortage of supply of real estate product.
1
Aleksandra Scepanovic
Managing Director | Ideal Properties Group
232 Court Street, Brooklyn NY 11201 | 78 7th Avenue, Brooklyn NY 11217 | 462 Third Avenue, Brooklyn NY 11215 | 362 Bedford Avenue, Brooklyn NY 11211
w w w . i d e a l p r o p e r t i e s g r o u p . c o m | p h 7 1 8 . 8 4 0 . 2 7 5 7 | f a x 7 1 8 . 2 2 8 . 9 3 5 9
RED
HOOK
GREENWOOD
HEIGHTS
CARROLL
GARDENS
CLINTON
HILL
FORT
GREENE
GOWANUS
PARK
SLOPE
DUMBO
COBBLE
HILL
PROSPECT
HEIGHTS
PROSPECT
PARK
BROOKLYN
HEIGHTS
BOERUM
HILL
WINDSOR
TERRACE
COLUMBIA
WATER
FRONT
DOWN-
TOWN
BROWNSTONE
BROOKLYN
GREENPOINT
WILLIAMSBURG
EAST
WILLIAMSBURG
NORTH
BROOKLYN
QUARTERLY SALES MARKET REPORT
The sales market in Brownstone Brooklyn continued to expand in the second quarter 2014. Both average and median values tiptoed
upwards, with average sales prices edging 2.7 percent to $1,160,532, and median levels increasing 7.2 percent to
$905,000 from the previous quarter. Average prices per square foot accelerated by 8.7 percent to $900, while median prices rose
from $808 per square foot to $884, gaining 17.1 percent.
Actively fueling the pricing levels registered by individual apartment (condominium and co-operative) markets, 2Q 2014 proved to be
a quieter quarter for Brownstone Brooklyns townhouses. Quarter-over-quarter, average townhouse prices slipped by 4.2 percent to
$2,113,527.
Even so, the upward year-over-year streak is particularly evident within this segment of inventory, the average pricing more than
doubling relative to 2013 (up 107.2 percent year-over-year).
To an extent attributable to the flattening of the townhouse market, co-operative units gained momentum, further solidifying the gains,
and indicating enduring stability. Buyer confidence captured, the segment registered a 6.5 percent uptick quarter-over-quarter to an
average level of $687,093, a 71.1 percent increase year-over-year.
EXPANSION TIPTOES UPWARDS
232 Court Street, Brooklyn NY 11201 | 78 7th Avenue, Brooklyn NY 11217 | 462 Third Avenue, Brooklyn NY 11215 | 362 Bedford Avenue, Brooklyn NY 11211
w w w . i d e a l p r o p e r t i e s g r o u p . c o m | p h 7 1 8 . 8 4 0 . 2 7 5 7 | f a x 7 1 8 . 2 2 8 . 9 3 5 9
2nd Quarter 2014
BROWNSTONE BROOKLYN AND BEYOND
ALL ASSET CLASSES
Average
Sale Price
Median
Sale Price
Average Price
per Sq Ft
2Q 2014
Change
2Q 2013
2Q 2014
Change
1Q 2014
1,160,532 905,000 900
905,000 900
26.6% 18.3%
844,000 828
714,811 761
A
L
L

S
A
L
E
S
2.7% 7.2% 8.7%
Median Price
per Sq Ft
884
884
17.1%
808
755
9.4%
1,129,776
1,160,532
27.5%
909,973
$
ONE- TO THREE-FAMILY HOMES (TOWNHOUSES)
Average
Sale Price
Median
Sale Price
Average Price
per Sq Ft
2Q 2014
Change
2Q 2013
2Q 2014
Change
1Q 2014
2,113,527 1,935,000 785
1,935,000 785
95.5% 23.2%
1,962,500 808
990,000 637
A
L
L

S
A
L
E
S
-4.2% -1.4% -2.8%
Median Price
per Sq Ft
712
712
17.7%
717
605
-0.7%
2,205,165
2,113,527
107.2%
1,019,876
$
CO-OPERATIVE UNITS
Average
Sale Price
Median
Sale Price
Average Price
per Sq Ft
2Q 2014
Change
2Q 2013
2Q 2014
Change
1Q 2014
687,093 640,000 776
640,000 776
56.1% 27.8%
539,000 708
410,000 607
A
L
L

S
A
L
E
S
6.5% 18.7% 9.6%
Median Price
per Sq Ft
747
747
23.1%
694
607
7.7%
645,446
687,093
71.1%
401,667
$
1
QUARTERLY SALES MARKET REPORT
Perhaps in anticipation of the industry-projected undersupply of condominium inventory in Brownstone Brooklyn, or possibly equally
reflecting the softening of the townhouse market, the condominium market also posted gains. Although the year-over-year strengthening
fell short of impressing as much as the cooperative market, condo units median price per square foot rose 35.5 percent to $1,038
relative to the same period last year, and 28.5 percent quarter-over-quarter.
A slight shift in orientation from townhouses to condominiums largely due to extremely limited inventory and galloping pricing of
townhouses resulted in condos making a comeback in popularity in 2Q 2014. Condos spent fewer days on the market and fetched
higher prices both per unit and per square foot.
Entering the busy summer, the closing
process (average time lapse from date of
listing to sale closing date) has faintly
accelerated this quarter by an average
five days (or 0.8 percent).
This is particularly true of condominium
units, which have registered a six days
boost (nine percent quarter-over-quarter
and 29 percent acceleration year-over-
year). The outlook for townhouses remains
positive, although the asset took on
average nine additional days to close, up
seven percent to 129, while co-operative
units posted a 8-day slowdown, taking
125 days to close, up four percent
quarter-over-quarter.
232 Court Street, Brooklyn NY 11201 | 78 7th Avenue, Brooklyn NY 11217 | 462 Third Avenue, Brooklyn NY 11215 | 362 Bedford Avenue, Brooklyn NY 11211
w w w . i d e a l p r o p e r t i e s g r o u p . c o m | p h 7 1 8 . 8 4 0 . 2 7 5 7 | f a x 7 1 8 . 2 2 8 . 9 3 5 9
2nd Quarter 2014
CONDOMINIUM UNITS
Average
Sale Price
Median
Sale Price
Average Price
per Sq Ft
2Q 2014
Change
2Q 2013
2Q 2014
Change
1Q 2014
1,079,517 907,500 1,017

29.6% 31.1%
865,000 908
700,000 776
A
L
L

S
A
L
E
S
10% 4.9% 12%
Median Price
per Sq Ft
1,038
35.5%
808
766
28.5%
981,661
18.9%
907,831
$
1,079,517 907,500 1,017 1,038
BROWNSTONE BROOKLYN AND BEYOND
DAYS ON MARKET: AVERAGE ELAPSED TIME
Average
Days on Market
% Change
1Q 2014
% Change
2Q 2013
B
R
O
W
N
S
T
O
N
E

B
R
O
O
K
L
Y
N

Asset
Class
Townhouses
Co-Operative Units
Condominium Units
129
125
102
7%
4%
-9%
12%
-12%
-29%
All Asset Classes 119 -0.8% -16%
CLOSING TIMES FAINTLY ACCELERATE
EXPANSION TIPTOES UPWARDS
2
Heavily favored by the
market in two previous
quarters, townhouses
are registering a
scaling back in 2Q
2014, trading for an
average $91,638 less
relative to the previous
quarter. The median
levels have also slightly
dropped by $27,000,
to $1,935,000, while
the average and
median prices per
square foot have mostly
stagnated ($785 this
quarter v. $808 on the
average end, and
$712 this quarter v.
$717 median).
QUARTERLY SALES MARKET REPORT
232 Court Street, Brooklyn NY 11201 | 78 7th Avenue, Brooklyn NY 11217 | 462 Third Avenue, Brooklyn NY 11215 | 362 Bedford Avenue, Brooklyn NY 11211
w w w . i d e a l p r o p e r t i e s g r o u p . c o m | p h 7 1 8 . 8 4 0 . 2 7 5 7 | f a x 7 1 8 . 2 2 8 . 9 3 5 9
2nd Quarter 2014
Average PPSF Median PPSF
Average & Median Price Per Square Foot ($)
2Q 14 1Q 14 2Q 13
0
$637 $605 $785 $712 $808 $717
TOWNHOUSES
BROWNSTONE & NORTH BROOKLYN
400
1,000
200
800
600
Average Sale Price Median Sale Price
Average & Median Sales Price ($)
2Q 14 1Q 14 2Q 13
1,000,000
2,500,000
500,000
0
$1,019,876 $990,000 $2,113,527 $1,935,000
1,500,000
TOWNHOUSES
BROWNSTONE & NORTH BROOKLYN
2,000,000
$2,205,165 $1,962,500
APARTMENTS PRESS HIGHER, TOWNHOUSES SLOW DOWN
Continued demand and
limited inventory
afforded sellers of
co-operative units a
degree of latitude
allowing them to list at
even higher levels, and
achieve higher selling
points relative to the
first quarter of 2014.
Selling at an average
$687,093 in the
second quarter,
co-operative units main-
tained the upward
trajectory, up $47,093
quar t er- over- quar t er,
the year-over-year
gains an even more
staggering $285,426.
Average PPSF Median PPSF
Average & Median Price Per Square Foot ($)
2Q 14 1Q 14 2Q 13
0
$607 $607 $776 $747 $708 $694
CO-OPERATIVE UNITS
BROWNSTONE & NORTH BROOKLYN
400
1,000
200
800
600
Average Sale Price Median Sale Price
Average & Median Sales Price ($)
2Q 14 1Q 14 2Q 13
1,200,000
2,000,000
800,000
0
$401,667 $410,000 $687,093 $640,000
1,600,000
CO-OPERATIVE UNITS
BROWNSTONE & NORTH BROOKLYN
400,000
$645,446 $539,000
3
QUARTERLY SALES MARKET REPORT
232 Court Street, Brooklyn NY 11201 | 78 7th Avenue, Brooklyn NY 11217 | 462 Third Avenue, Brooklyn NY 11215 | 362 Bedford Avenue, Brooklyn NY 11211
w w w . i d e a l p r o p e r t i e s g r o u p . c o m | p h 7 1 8 . 8 4 0 . 2 7 5 7 | f a x 7 1 8 . 2 2 8 . 9 3 5 9
In line with the
increased appetite for
Brownstone Brooklyns
homes, condominium
units also posted gains
across the board, the
p e r - s q u a r e - f o o t
pricing, surpassing the
$1,000 mark. The
average price of
condo units surpassed
the $1M, likely
announcing further
growth in the summer
months.
2nd Quarter 2014
Average PPSF Median PPSF
Average & Median Price Per Square Foot ($)
2Q 14 1Q 14 2Q 13
400
1,000
200
0
$776 $766 $1,017 $1,038 $908 $888
CONDOMINIUM UNITS
BROWNSTONE & NORTH BROOKLYN
800
600
2Q 14
0
Average Sale Price Median Sale Price
CONDOMINIUM UNITS
Average & Median Sales Price ($)
1Q 14 2Q 13
0
$907,831 $700,000 $1,079,517 $907,500
BROWNSTONE & NORTH BROOKLYN
0
1,200,000
2,000,000
800,000
1,600,000
400,000
$981,661 $865,000
In general, Brownstone Brooklyns properties, in a lead-up to the
summer months, continue to live up to the expectations and projec-
tions of pricing increases.
This quarters sale-to-list ratio paints an image of a narrow majority
of Brownstone Brooklyns properties (51 percent) trading with a
discount from listing price. A testament to continuing bidding wars,
however, 39 percent of properties sold above, while the remaining
10 percent fetched the asking price.
Here is where we find evidence of Greenpoints increasing popular-
ity on average, properties in Greenpoint sold for four percent over
their asking price. Greenpoints more developed neighbor, Williams-
burg, commanded prices up to 11 percent lower than asking levels.
In 2Q 2014, the savvy buyer was to be found on the opposite end
of the sale-to-list spectrum in Windsor Terrace. The petite
neighborhoods properties were selling with an average discount of
15 percent. Park Slope and Carroll Gardens commanded near-firm
asking prices, trading with a one- and three-percent discount, respec-
tively.
Traded with Discount
Traded at List Price
Traded Above List Price
ALL ASSET CLASSES: SALE-TO-LIST-RATIO
Number of Sales: 2Q 2014 (%)
39%
10%
51%
APARTMENTS PRESS HIGHER, TOWNHOUSES SLOW DOWN
4
QUARTERLY SALES MARKET REPORT
232 Court Street, Brooklyn NY 11201 | 78 7th Avenue, Brooklyn NY 11217 | 462 Third Avenue, Brooklyn NY 11215 | 362 Bedford Avenue, Brooklyn NY 11211
w w w . i d e a l p r o p e r t i e s g r o u p . c o m | p h 7 1 8 . 8 4 0 . 2 7 5 7 | f a x 7 1 8 . 2 2 8 . 9 3 5 9
Never stepping out of the bounds of tradition, the most popular
homes in the second quarter of 2014 were those selling between
$500,000 and $999,999.
At the same time, a new standard seems to be solidifying in 2014:
properties fetching over $1.5M participate at around (and slightly
above) 20 percent in the sum of all sales. This segment of sales
properties is just one percent over being a virtual repeat of previous
quarters, and a distant improvement in relation to the same quarter
in 2013 (14 percent of all properties sold in that quarter sold at a
price at or over $1.5M).
The slight contraction of the bottom-priced properties is accommo-
dated by a three percent expansion to a total of 18 percent this
quarter in the $1m - $1,499,999 range.
2nd Quarter 2014
100%
$1 - $499,999
$500,000 - $999,999
$1m - $1,499,999
$1.5m - $1,999,999
$2m +
ALL ASSET CLASSES
Sales by Price Range (%)
2Q 14
1Q 14
2Q 13
16% 48% 15% 7% 14%
28% 44% 13% 7% 7%
*Percentages may not sum to 100 due to rounding
15% 46% 18% 10% 12%
42%
19%
BROOKLYN
ALL ASSET CLASSES: MARKET-WIDE BROOKLYN
All Geographic Zones - Market Share (%)
39%
BROWNSTONE & NORTH
SOUTH
EAST
*Percentages may not sum to 100 due to rounding
2
Q

2
0
1
4
A GLANCE AT BROOKLYN
Widely announced as a banner year for sales in
burgeoning neighborhoods radiating from the
traditional epicenters in mature areas such as Park
Slope, Cobble Hill and Williamsburg, 2014 appears
to be showing strong activity this quarter in Downtown
and Greenpoint. Properties in Downtown Brooklyn
accounted for nine percent of all sales this quarter,
while Greenpoint participated with seven percent.
Park Slope was the true pivot point of Brownstone
Brooklyns completed sales, accounting for the highest
number of sales (22 percent of all sales) in the area.
Brooklyn Heights and Williamsburg followed, each
contributing 13 percent to the pool of all closed sales
transactions this quarter.
A look at the rest of Brooklyn reveals East Brooklyn
continuing to exceed expectations, ending the quarter
with a strong (13 percent) gain quarter-over-quarter,
and up 43 percent over the year prior.
APARTMENTS PRESS HIGHER, TOWNHOUSES SLOW DOWN
5
Average
Days on Market
% Change
1Q 2014
% Change
2Q 2013
B
R
O
W
N
S
T
O
N
E

B
R
O
O
K
L
Y
N

&

N
O
R
T
H

B
R
O
O
K
L
Y
N
Asset
Class
Townhouses
Co-Operative Units
Condominium Units
136
125
102
7%
4%
-9%
12%
-12%
-29%
All Asset Classes 118 -0.8% -16%
Average
Days on Market
% Change
1Q 2014
% Change
2Q 2013
N
O
R
T
H

B
R
O
O
K
L
Y
N
Asset
Class
Townhouses
Co-Operative Units
Condominium Units
143
126
103
9%
no change
-10%
16%
-23%
-23%
All Asset Classes 114 -8% -14%
DAYS ON MARKET: AVERAGE ELAPSED TIME
FROM LIST TO CLOSE: AVERAGES
BOERUM HILL
BROOKLYN HEIGHTS
CARROLL GARDENS
CLINTON HILL
COBBLE HILL
DOWNTOWN
DUMBO
FORT GREENE
GOWANUS
PARK SLOPE
PROSPECT HEIGHTS
WINDSOR TERRACE
GREENPOINT
WILLIAMSBURG
NORTHWEST
ALL ASSET CLASSES: BROWNSTONE BROOKLYN
Individual Neighborhoods - Market Share (%)
2Q 2014
*Percentages may not sum to 100 due to rounding
B
R
O
W
N
S
T
O
N
E
BROWNSTONE
N
O
R
T
H
2%
13%
6%
7%
9%
7%
9%
13%
7%
1%
22%
NORTH
1%
3%
1%
QUARTERLY SALES MARKET REPORT
232 Court Street, Brooklyn NY 11201 | 78 7th Avenue, Brooklyn NY 11217 | 462 Third Avenue, Brooklyn NY 11215 | 362 Bedford Avenue, Brooklyn NY 11211
w w w . i d e a l p r o p e r t i e s g r o u p . c o m | p h 7 1 8 . 8 4 0 . 2 7 5 7 | f a x 7 1 8 . 2 2 8 . 9 3 5 9
2nd Quarter 2014
East Brooklyn outpaced its South counterpart, where the
townhouse and co-operative markets experienced a slight
softening (with condominium units continuing on a strong
upward trajectory).
Market-wide, Brooklyn has registered a modest growth,
its properties selling on average for $830,889, a 2.6
percent increase from previous quarter. Not limited to
particular key neighborhoods, the average year-over-year
growth at 31.7 percent testifies to the boroughs shortage
of supply and continued demand.
Average
Days on Market
% Change
1Q 2014
% Change
2Q 2013
B
R
O
W
N
S
T
O
N
E

B
R
O
O
K
L
Y
N

Asset
Class
Townhouses
Co-Operative Units
Condominium Units
129
125
102
7%
4%
-9%
12%
-12%
-29%
All Asset Classes 119 -0.8% -16%
6
QUARTERLY SALES MARKET REPORT
232 Court Street, Brooklyn NY 11201 | 78 7th Avenue, Brooklyn NY 11217 | 462 Third Avenue, Brooklyn NY 11215 | 362 Bedford Avenue, Brooklyn NY 11211
w w w . i d e a l p r o p e r t i e s g r o u p . c o m | p h 7 1 8 . 8 4 0 . 2 7 5 7 | f a x 7 1 8 . 2 2 8 . 9 3 5 9
2nd Quarter 2014
SELECT NEIGHBORHOODS: AVERAGE AND MEDIAN PRICES
Average Sale Price Median Sale Price
ALL ASSET CLASSES: PARK SLOPE
Average & Median Sales Price
600,000
900,000
1,200,000
1,500,000
300,000
0
$1,057,828 $815,000 $1,321,159 $999,000 $996,696 $829,000
2Q 14 1Q 14 2Q 13
Average Sale Price Median Sale Price
ALL ASSET CLASSES: WILLIAMSBURG
Average & Median Sales Price
0
$845,440 $702,500 $1,319,614 $962,50000
2Q 14 1Q 14 2Q 13
$999,612 $950,000
600,000
900,000
1,200,000
1,500,000
300,000
0
Average Sale Price Median Sale Price
ALL ASSET CLASSES: BROOKLYN HEIGHTS
Average & Median Sales Price
0
$1,031,841 $680,000 $1,579,968 $1,200,000
500,000
1,000,000
1,500,000
2,000,000
2Q 14 1Q 14 2Q 13
$809,400 $550,000
7
QUARTERLY SALES MARKET REPORT
232 Court Street, Brooklyn NY 11201 | 78 7th Avenue, Brooklyn NY 11217 | 462 Third Avenue, Brooklyn NY 11215 | 362 Bedford Avenue, Brooklyn NY 11211
w w w . i d e a l p r o p e r t i e s g r o u p . c o m | p h 7 1 8 . 8 4 0 . 2 7 5 7 | f a x 7 1 8 . 2 2 8 . 9 3 5 9
2nd Quarter 2014
EAST BROOKLYN
ONE- TO THREE-FAMILY HOMES (TOWNHOUSES)
Average
Sale Price
Median
Sale Price
Average Price
per Sq Ft
Change
Change
680,017 610,000 259

37.9% 21.9%

442,500 212
A
L
L

S
A
L
E
S
13.4% 19.6% 3.4%
Median Price
per Sq Ft
243
30.2%
187
1%
37.1%
496,075
$
CO-OPERATIVE UNITS
Average
Sale Price
Median
Sale Price
Average Price
per Sq Ft
Change
Change
301,000 300,500 296

35.4% 20.8%

222,000 245
A
L
L

S
A
L
E
S
2% 23.9% 1%
Median Price
per Sq Ft
251
2.4%
245
1.2%
39.1%
216,394
$
ALL ASSET CLASSES
Average
Sale Price
Median
Sale Price
Average Price
per Sq Ft
2Q 2014
Change
2Q 2013
2Q 2014
Change
1Q 2014
683,487 607,635 300
607,635 300
41.3% 19.9%
467,500 271
430,000 250
A
L
L

S
A
L
E
S
19% 30% 10.6%
Median Price
per Sq Ft
266
266
25%
245
213
8.7%
574,362
683,487
43.2%
477,352
$
CONDOMINIUM UNITS
Average
Sale Price
Median
Sale Price
Average Price
per Sq Ft
Change
Change
624,086 434,219 620

24.5% 48.4%

348,816 418
A
L
L

S
A
L
E
S
40.2% 35.2% 12.5%
Median Price
per Sq Ft
620
83.5%
338
94.4%
48%
421,596
$
2Q 2014
2Q 2013
2Q 2014
1Q 2014
2Q 2014
2Q 2013
2Q 2014
1Q 2014
2Q 2014
2Q 2013
2Q 2014
1Q 2014
599,611 510,000 250 241
295,000 242,500 293 248
445,002 321,100 551 319
680,017 610,000 259 243
301,000 300,500 296 251
624,086 434,219 620 620
8
QUARTERLY SALES MARKET REPORT
232 Court Street, Brooklyn NY 11201 | 78 7th Avenue, Brooklyn NY 11217 | 462 Third Avenue, Brooklyn NY 11215 | 362 Bedford Avenue, Brooklyn NY 11211
w w w . i d e a l p r o p e r t i e s g r o u p . c o m | p h 7 1 8 . 8 4 0 . 2 7 5 7 | f a x 7 1 8 . 2 2 8 . 9 3 5 9
2nd Quarter 2014
SOUTH BROOKLYN
ONE- TO THREE-FAMILY HOMES (TOWNHOUSES)
Average
Sale Price
Median
Sale Price
Average Price
per Sq Ft
Change
Change
694,549 640,000 327



600,000 305
A
L
L

S
A
L
E
S

Median Price
per Sq Ft
308
287 636,385
$
CO-OPERATIVE UNITS
Average
Sale Price
Median
Sale Price
Average Price
per Sq Ft
Change
Change
197,972 187,500 289

-6.3% 6.3%

200,000 272
A
L
L

S
A
L
E
S
-15.5% -8.5% 6.6%
Median Price
per Sq Ft
244
-7.6%
264
-11.9%
-14.9%
232,764
$
ALL ASSET CLASSES
Average
Sale Price
Median
Sale Price
Average Price
per Sq Ft
2Q 2014
Change
2Q 2013
2Q 2014
Change
1Q 2014
589,687 535,500 341
535,500 341
11.3% 6.5%
549,999 361
481,075 320
A
L
L

S
A
L
E
S
-2.6% -2.6% -5.5%
Median Price
per Sq Ft
320
320
8.5%
332
295
-3.6%
605,697
589,687
12.1%
526,000
$
CONDOMINIUM UNITS
Average
Sale Price
Median
Sale Price
Average Price
per Sq Ft
Change
Change
480,810 450,000 478

-1.4% 6.5%

456,300 449
A
L
L

S
A
L
E
S
2.9% 4.5% 12.7%
Median Price
per Sq Ft
465
4.3%
446
10.2%
-1.7%
488,982
$
2Q 2014
2Q 2013
2Q 2014
1Q 2014
2Q 2014
2Q 2013
2Q 2014
1Q 2014
2Q 2014
2Q 2013
2Q 2014
1Q 2014
732,054 699,000 349 325
234,330 205,000 271 277
467,290 430,440 424 422
694,549 640,000 327 308
197,972 187,500 289 244
480,810 450,000 478 465
-5.1% -8.4% -6.3% -5.2%
6.7% 7.2% 7.3% 9.1%
9
QUARTERLY SALES MARKET REPORT
232 Court Street, Brooklyn NY 11201 | 78 7th Avenue, Brooklyn NY 11217 | 462 Third Avenue, Brooklyn NY 11215 | 362 Bedford Avenue, Brooklyn NY 11211
w w w . i d e a l p r o p e r t i e s g r o u p . c o m | p h 7 1 8 . 8 4 0 . 2 7 5 7 | f a x 7 1 8 . 2 2 8 . 9 3 5 9
2nd Quarter 2014
MARKET WIDE: BROOKLYN
ALL ASSET CLASSES
Average
Sale Price
Median
Sale Price
Average Price
per Sq Ft
2Q 2014
Change
2Q 2013
2Q 2014
Change
1Q 2014
830,889 670,000 538
670,000 538
27.1% 27.2%
655,000 442
527,000 423
A
L
L

S
A
L
E
S
2.6% 2.3% 21.7%
Median Price
per Sq Ft
431
431
29.4%
430
333
0.2%
809,833
830,889
31.7%
631,123
$
CO-OPERATIVE UNITS
Average
Sale Price
Median
Sale Price
Average Price
per Sq Ft
Change
Change
521,185 395,000 590

32.1% 43.9%

299,000 410
A
L
L

S
A
L
E
S
11.9% 5.8% 34.7%
Median Price
per Sq Ft
563
63.2%
345
35%
29.3%
402,951
$
ONE- TO THREE-FAMILY HOMES (TOWNHOUSES)
Average
Sale Price
Median
Sale Price
Average Price
per Sq Ft
Change
Change
881,126 675,000 382
18.4% 23.6%

570,000 309
A
L
L

S
A
L
E
S
-9.5% -1.5% -9.9%
Median Price
per Sq Ft
320
19.9%
267
-3.6%
27.2%
692,786
$
CONDOMINIUM UNITS
Average
Sale Price
Median
Sale Price
Average Price
per Sq Ft
Change
Change
799,240 660,000 829

11.9% 23.7%

590,000 670
A
L
L

S
A
L
E
S
18.9% 19% 16.8%
Median Price
per Sq Ft
701
5.6%
664
34.3%
11.7%
715,594
$
2Q 2014
2Q 2013
2Q 2014
1Q 2014
2Q 2014
2Q 2013
2Q 2014
1Q 2014
2Q 2014
2Q 2013
2Q 2014
1Q 2014
973,778 685,000 424 332
465,769 373,500 438 417
672,045 554,500 710 522
881,126 675,000 382 320
521,185 395,000 590 563
799,240 660,000 829 701
10
QUARTERLY SALES MARKET REPORT
232 Court Street, Brooklyn NY 11201 | 78 7th Avenue, Brooklyn NY 11217 | 462 Third Avenue, Brooklyn NY 11215 | 362 Bedford Avenue Brooklyn, NY 11211
w w w . i d e a l p r o p e r t i e s g r o u p . c o m | p h 7 1 8 . 8 4 0 . 2 7 5 7 | f a x 7 1 8 . 2 2 8 . 9 3 5 9
Data included in the rental market report focuses on the most competitive areas of Brooklyn, geographically concentrated to
the largest extent in North and Brownstone Brooklyn. The report presents the focus area as part of the general overview of
the sales market of the entire borough of Brooklyn.
Neighborhoods considered in the North section of Brooklyn are Williamsburg, Navy Yard and Greenpoint. Neighborhoods
included in the Brownstone Brooklyn, the section on Brooklyn commonly referred to as Brownstone Brooklyn, are Boerum
Hill, Brooklyn Heights, Carroll, Gardens, Clinton Hill, Cobble Hill, Columbia Waterfront District, Downtown, DUMBO, Fort
Greene, Gowanus, Park Slope, Prospect Heights, Red Hook, Vinegar Hill, and Windsor Terrace.
This report uses Brownstone Brooklyn and North/Brownstone to denote North and Northwest markets.
GEOGRAPHIC AREAS ANALYZED
This report analyzed closed (recorded) sales data of individual co-operative and condominium units, and one- to three-family
townhomes in Brooklyn. In preparation for the analysis, Ideal Properties Groups researchers identified and disqualified from
compiled datasets any transactions that were not arms length in nature so as to minimize distortion of true market value.
The report is based on a sample of 522 sales transactions recorded in the second quarter of 2014, and represent an analytical
examination of the pricing trends in the Brooklyn real estate sales market as per the public records at the close of the quarter.
Under no circumstances should any of the data presented herein be construed as reflective of, or utilized toward valuation of,
any specific or individual real property.
PROPERTY TYPES ANALYZED; METHODOLOGY
Rolling sales reports issued by the New York City Department of Finance (ACRIS), and the REBNY Listings Service (RLS) data
were used as primary data sources in the compilation of this Report. Portions of the report were additionally supplemented by
information obtained from Property Shark and other subscription services, as well as Ideal Properties Groups proprietary sales
database and details of individual sales transactions. The data used does not necessarily represent all sales transactions in
their respective categories.
DATA SOURCES
New York City Department of Finances Office of the City Register (OCR) records transfers of real property in Brooklyn. There
is, however, a significant lag between the sale (closing) date and its actual recording by the OCR. The lag ranging from
mere days to several months renders real-time reporting of the residential real estate market activity in the borough challeng-
ing. For the reasons of practicality and timeliness, data presented in this report represents a reasonable overview of the years
final quarter of sales activity. The report is a snapshot of the market at the time of publishing. Data collected following the
recording dates are not appended or otherwise amended after the publishing of the report, since data collection continues to
date.
DATA LAG
As used in this report, average Days on Market is the time period between the date when a residential property is listed for
sale, and the date its sale is recorded. Listing dates are not logged in as part of the public record kept by the ACRIS. REBNY,
FSBO, co-operating broker websites as well as subscription-based industry services (StreetEasy, PropertyShark) were used to
determine listing dates. Days on Market number presented in this report is not cumulative: the last known listing date was
used as List Date. Additionally, listings with uncharacteristically long days on market, and listings that were de-listed more
than once in the 12 months preceding the sale date have been excluded from the report in an attempt to obtain true average
listing dates. Days on Market considered in this report measured only properties that sold (Time to Sale listings rather than
Time on Market listings - the latter being all active listings within the analyzed timeframe).
All text, charts, graphs, data and any additional material presented in the Brownstone Brooklyn and Beyond is protected under U.S. Copyright Law. Express permission to reproduce
any of the text, images, or data contained in the Brownstone Brooklyn and Beyond report must be obtained in writing by contacting Aleksandra Scepanovic at 362 Bedford Avenue,
Brooklyn, NY 11211, or via email ascepanovic@idealpropertiesgroup.com. Permission need not be obtained for fair use purposes, such as news reporting and noncommercial educational
purposes. Any use for such purposes must properly credit Ideal Properties Group LLC. All material presented in the Brownstone Brooklyn and Beyond report is intended for informational
purposes only. While information is believed to be correct, it is represented subject to errors, omissions, changes, amendments or withdrawals without notice. All property information,
including but not limited to number of bedrooms and square footage, is approximate.
DAYS ON MARKET
2nd Quarter 2014
11

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