North Brooklyn Is Booming
Once considered an affordable alternative to Manhattan, Brooklyn has arguably become the hottest borough in New York City. North Brooklyn has been an especially exciting real estate market: as New York invested tens of millions of dollars in the area to create acres of waterfront parkland, North Brooklyn skyrocketed with amenity-packed new developments.
The Bath Haus, 139 Huron St, Brooklyn, NY 11222
This transformed neighborhoods such as Williamsburg and Greenpoint into pricey primary condo markets which rank among the most desirable enclaves in the city, and Compass has been dominant here, closing nearly $2.8 billion in sell-side deals in Brooklyn last year, more than any other brokerage. Compass agents such as Lior Barak and Christine Blackburn are seizing on the opportunity to capitalize on the North Brooklyn boom, announcing that local Brooklyn new development specialist and resale agent Raquel Lomonico has joined their high-flying Barak Blackburn Team.
The Barak Blackburn team has sold $2 billion in property and $50 million in land and development in Brooklyn and Manhattan. With the support of Ms. Lomonico, the team continues its perforation of North Brooklyn and its omnipresence in new development. It’s a decisive maneuver given the growing demand for spacious residences, largely due to Millennials opting to raise their children in Brooklyn rather than relocate to the surrounding suburbs. "North Brooklyn was not traditionally where you raised a family," Lomonico explained. “There’s always been this natural progression that I saw in Williamsburg and Greenpoint where people have their first baby, they go to school here before first grade, then they’re out of here. Now I’m seeing people stay.”
With its spectacular East River and Manhattan skyline views, convenient transportation of the subway and NYC Ferry, and stunning new luxury residential opportunities, the North Brooklyn boom seems poised to continue for years to come. There’s room for families, many local schools, and vibrant cultural offerings. Simply put, North Brooklyn has become the place to be.
The Barak | Blackburn Team