Advertise, Promote, Attend, Create – Work with Connect.
A full service marketing and PR agency.
Meet the team behind the machine and taste a little of the secret sauce.

New York & Tri-State CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

New York & Tri-State  + Outer  + Apartments  | 

Home Sales Drop in Brooklyn and Queens

Brooklyn home prices continued to reach new highs in the first quarter, even as sales, including those of condominiums and co-ops, continued to slide, Miller Samuel reported. The story was similar for Queens, although the borough’s sales decline was slower.

Median sales prices in Brooklyn overall rose for the 22nd consecutive quarter, although one-to three-family houses were the only property type to set new records in Q1. The number of all sales in the borough was down 13.9% year over year, following 10 consecutive quarters of Y-O-Y sales gains.

For Queens, median prices were up 13.4% from a year ago, with co-op prices rising faster than those of single-family homes, while sales slipped by 2.7% from the year-ago period. Miller Samuel’s Jonathan D. Miller reported that apartment landlords in both boroughs saw Y-O-Y declines in net effective rents.


Subscribe to Connect Daily New York

For comments, questions or concerns, please contact Paul Bubny

Connect

Inside The Story

Read more at Miller SamuelConnect With Miller Samuel's Miller

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

NewPoint-12-cube
AshcroftCapital-07-cube
Chase-19-cubeAdvertisement