The Cobble Hill House at 78 Amity Street

Brooklyn real estate and rising housing costs have become part in parcel of conversation amongst residents of Kings County. Still, most feel shielded– at least temporarily– from the threat of real estate costs in the borough overtaking those of Manhattan.

Well, according to a new report by Property Shark, a leading real estate industry blog in New York and New Jersey, Brooklyn continues to inch dangerously closer and closer to Manhattan.

In fact, of the top-ten priciest neighborhoods in New York City, Brooklyn has two—Cobble Hill with a median sale price of nearly $1.8 million, and Carroll Gardens, with a median sale price of $1.4 million– with a price difference between the second and tenth-most expensive neighborhood—TriBeCa and Carroll Gardens—at less than $1 million.

And while transaction volume has remained flat in Brooklyn, a 7.3% decrease in Manhattan, a 11% decrease in the Bronx and a 4% decrease in Queens signal Brooklyn’s sales remain steadfast.

Surprisingly, the borough’s “most popular” neighborhood, Williamsburg, tied for the 24th place. However, it maintained the highest volume of transactions in Brooklyn at 134 sales, according to the report. While Williamsburg remains a popular neighborhood in Brooklyn, its median home sale price remains just under $1 million.

Cobble Hill registered a year-over-year increase of 102%, reaching just under the $1.8 million mark. Specifically, eight sales between The Cobble Hill House and Polhemus launched this neighborhood upwards. The Cobble Hill House had four sales with a median price of $2.34 million, and Polhemus also had four sales with a median sale price greater than $5 million.

Also important to note was

Surprisingly, DUMBO fell six spots from last quarter to land in the 18th position. Accounting for part of this was– for the second quarter in a row– no sales at the Clock Tower Condominium, dragging the neighborhood down another $300,000 to just under $1.2 million.

TriBeCa, SoHo, Prospect Heights, Dumbo and Chelsea all saw year-over-year declines of more than 24%.

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