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Brownstones are not going out of style

Licensed real estate salesperson Nadia Hussey, who lives in Brooklyn Heights and works at Citi Habitat’s Cobble Hill office, first delved into the industry around 2005. Since joining the Citi Habitat team in 2016, Hussey has been focusing on sales and rentals in lower North Brooklyn (as well as some in Harlem where she had previously lived). She believes the housing market today is leveling out between buyers and sellers.

“It’s still kind of a seller’s market, but the buyers who are savvy and aggressive do end up getting good deals,” Hussey said.

Multi-family townhouses and condos are becoming more popular for renters and homebuyers to consider, she says. Brownstone Brooklyn, especially Bed-Stuy, has a new influx of condominiums – in which the brownstones are being turned into condo units

“Brownstones are definitely not going out of style. “There are duplexes available for $1 million or less,” according to Hussey.

The Corcoran Group’s fiscal 2018 Fourth-Quarter market report for Brooklyn residential sales (Oct. 1-Dec. 31, 2018) declared the most popular listings were in Williamsburg and Greenpoint. Those neighborhoods had 144 sales, a median price of $995,000 and several resale condo penthouse transactions. The most expensive neighborhoods were Carroll Gardens, Boerum Hill and Red Hook, which had 73 sales and a median price of $1.185 million.

While the amounts may differ depending on what neighborhood you’re looking at, Hussey says space is a common factor that everyone’s looking for. Homebuyers want extra room for storage, such as a deep closet or a basement to store belongings. Renters look for outdoor space or access to a rooftop.

In terms of what’s in store for the future of real estate, Hussey believes more people will be looking at properties in Flatbush and Ditmas Park.

“Flatbush is where I’m seeing a lot of people going to make a deal, and I believe, five years from now, a neighborhood like that will probably be different place than it is right now,” she added.

 

Top photo of Hussey from Citi Habitats’ website

Author

  • George Fiala

    George Fiala has worked in radio, newspapers and direct marketing his whole life, except for when he was a vendor at Shea Stadium, pizza and cheesesteak maker in Lancaster, PA, and an occasional comic book dealer. He studied English and drinking in college, international relations at the New School, and in his spare time plays drums and fixes pinball machines.

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