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North Brooklyn Condo Market

North Brooklyn Condo Market

New York City November 30, 2022

North Brooklyn Condo Market

Artistic energy weaves through North Brooklyn like the white rabbit in Wonderland – and this hip enclave offers just as much of a whimsical adventure as of Alice. Trendy bistros, bohemian boutiques, and an air of excitement have revitalized this once working-class district, elevating it to seriously chic heights. Comprising four separate neighborhoods, North Brooklyn dazzles brighter than the Manhattan skyline, which unfurls like a horizon of possibility just beyond the Williamsburg Bridge.
Brooklyn real estate has hit the ground running, giving New York City luxury real estate some serious competition. Here in North Brooklyn, pretty tree-lined streets set a serene yet vibrant scene for residents, and coveted condo buildings can rival New York City luxury homes in terms of amenities, desirability, and list price. Let’s take a look at the four neighborhoods that make up this trendsetting area of town and their unique real estate markets.


Greenpoint blends old-school neighborhood vibes with burgeoning creativity. Tucked into the northernmost point of the borough and situated across the river from Gramercy Park, Greenpoint sports stunning views of the waterfront. Once a leading industrial center for glasswork and pencil factories, it seems appropriate that the modern Greenpoint of today has long since alchemized the sum of its historical parts into a flourishing scene for artists. The pencils of yesteryear now sketch trendsetting fashions, Art Basel-bound pieces, and Great American Novels. Landmark eateries mingle with brand-new boutiques in a place that happily blends the old with the new for the ultimate in cool kid vibes.
With a nod to the past and a warm welcome to future generations, the Greenpoint property scene is an exciting place to plant your real estate roots. As Greenpoint’s expectations for luxury property soar to seemingly unreachable heights, new developments emerge on the market to exceed them. Huron and Franklin Streets are the new It-Spots for posh properties, sporting sleek condos and legendary views of the East River and Manhattan skyline. The spectacular Huron Development is one such masterpiece. Sprawling open concepts and walls of windows create the ideal space for entertaining, while careful attention to detail adds to the effortless elegance of these spacious condos. Ranging from studios to four-bedroom layouts, with a few palatial penthouses thrown in for good measure, The Huron is set to become Greenpoint’s newest real estate star. 


Bedford-Stuyvesant is quintessentially Brooklyn, covering enough ground to be a city within The City, while still maintaining a slow pace and neighborly atmosphere. The strong legacy of neighbors and small-town vibes means a lot to current-day Bed-Stuy, and you’ll often find locals chatting across Brownstown stoops or strolling the historic streets together. The area’s resident roster reads like a who’s-who of creativity and social justice, with Bed-Stuy claiming such impressive figures as Walt Whitman, Jay Z, Spike Lee, the Notorious B.I.G., and Shirley Chisholm.
Music, poetry, and political activism aren’t the only exports of this dynamic enclave. The architecture here offers an enchanting glimpse into Bed-Stuy’s real estate past. Stuyvesant Heights’ gorgeous Victorian brownstones feature ornate designs and original details, like wrought-iron fences, arabesque masonry, wide stoops, and even charming animal grotesqueries. Meanwhile, the northwest area of town sports the seductive luxury of new construction builds and posh penthouse units.


Bushwick corners the market on artistic vibes and epicurean delights. Here Michelin-star restaurants share addresses with cozy cafes and late-night diners in a celebration of culinary excellence and authentic flavors. In the days before Prohibition, when Bushwick was home to industrial factories, breweries ruled the social scene. More than a century later, the tradition has been resurrected, and now Bushwick boasts a bevy of craft breweries and gastropub hotspots.
As for the real estate and condo scene, Bushwick brings its trademark creativity to each offering. Boutique condominiums dot the landscape here, offering airy, light-filled units and sleek updates. Rooftop decks are par for the course, as are full walls of windows. Pre-war buildings evoke a vintage atmosphere and air of historic glamor, and floor plans range from cozy studios to spacious three-bedroom, open-concept layouts.


The cultural cache of Williamsburg has made it the taste-making darling of New York City. Known as Brooklyn’s creative epicenter, Williamsburg is the adored subject of countless stories from film, television, and literature and lays claim to everything artistic, from music and murals to fashion and a celebrated foodie scene.  
Located just south of Greenpoint and right across its eponymous bridge from downtown Manhattan, Williamsburg is a bastion of Brooklyn vibes with effortless access to the glittering scene of SoHo and the Lower East Side. Not that Williamsburg denizens need to head across town for a good time. This energetic enclave is known for its ultracool music scene, which draws residents from all corners of New York. Chic lounges keep their doors open long past the appearance of the evening’s first stars, and some are still hopping when the soft purple glimmer of morning sun peeks out over the horizon.
While walk-ups and rowhouses pop up throughout the neighborhood, the luxury high-rises and modern condo buildings take center stage in this increasingly cool creative center. The waterfront sets the ideal scene for Williamsburg living and features posh complexes, stunning views of the river, and that iconic Manhattan skyline. With homes rivaling New York City condos for sale, in terms of both price and desirability, Williamsburg has long established itself as a beacon of real estate dreams.

Market History

Coming off the heels of New York City’s greatest real estate year in history, it is almost an understatement to say the last few years have been a whirlwind for the real estate industry. From pandemic uncertainty and quarantine measures to the new impact of technology on a post-Covid market, twists and turns have been the name of the real estate game. Last year, Brooklyn emerged as the star of the show and the capital of the New York seller’s market. North Brooklyn sellers made the rules and the condo market in Bed-Stuy, Williamsburg, and Greenpoint commanded listing or over-list offers for almost every sale.
While a seller’s market had a stronghold on most of the nation’s real estate over the past year, the tide has slowly been turning nationwide. The needle has moved solidly into the neutral zone across the board, while some cities are now firmly rooted in buyer’s market territory. 
Price increases for building materials over the last year, and the short supply of many necessities needed for construction meant new development projects were effectively put on pause. This low inventory drove up list prices, which in turn commanded multiple bids, a phenomenon with which the competitive New York City market is well-acquainted. But when the Federal Reserve took notice of the alarming rate at which inflation was rising, it implemented a series of interest rate increases that cooled the seller’s market considerably. Now, this newly equalized market is shaping up to be quite an interesting scenario for bold buyers and savvy sellers.

Current market

New York City real estate has always been in a class of its own, and still is – in today’s market, a New York City penthouse is as viable an investment as ever, with entertainment industry execs clamoring for exclusive properties complete with all the trappings of wealth and a lavish lifestyle. Condos are a particularly hot commodity, especially with celebrity and high-net-worth buyers. Los Angeles buyers are particularly enamored with the newly renovated condominium market and continue to make major plays for luxury offerings like the Huron. This spells excellent news for North Brooklyn, as the luxury condo market is teeming with choices, from stylish studios to grand waterfront stunners.
The North Brooklyn condo market is nearly back to pre-pandemic numbers, with sales proving the market has indeed normalized. For those financing their property acquisitions, the rise in interest rates and the consequential rise in mortgage rates means financing costs are up, but North Brooklyn’s buyer market status still makes this an exciting time to buy. And those with cash in hand should be ready to swoop in and purchase.
Part of Brooklyn’s real estate cache is due to investors' interest in this dynamic market. New York City is a real estate investor’s playground, but now Brooklyn has come to play – the borough’s investment sales reached $5.56 billion this year, and rental prices have soared past pre-pandemic levels. Brooklyn boasts impressive numbers – in fact, Brooklyn sold more industrial and development properties than any other market, landing it an exclusivity previously reserved for Manhattan.
If you are interested in exploring the Huron development or other properties in North Brooklyn, contact the luxury specialists at Serhant New York City.

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