Some Brooklyn real estate prices break records

NEW YORK (FOX5NY.COM) - Remember when Brooklyn was affordable? Those days seem to be long over. In the first quarter of 2018, one in three Brooklyn neighborhoods hit a record high, according to Grant Long, a senior economist at StreetEasy.

The three most expensive neighborhoods in New York City by median sales price are Tribeca, SoHo, and Carroll Gardens, according to StreetEasy.

The average recorded sales price in Carroll Gardens in the first quarter of this year was $2.2 million. Several other Brooklyn neighborhoods aren't far behind. Grant said that four of the 10 most-expensive neighborhoods in New York are now in Brooklyn: Carroll Gardens, Dumbo, Greenpoint, and Park Slope. Those parts of Brooklyn are now pricier than the Upper East Side and the West Village, as the entire borough is giving Manhattan a run for its money.

The median sales price in Brooklyn has increased 7 percent year on year, according to StreetEasy. A few Brooklyn neighborhoods have cooled off, though. East Brooklyn and Prospect Park prices are down about 4 percent, according to StreetEasy.

And no matter where you buy in the borough, you'll get a little more for your money. Grant says the average sales price per square foot in the first quarter of 2018 was $1,400 in Manhattan, $700 in Brooklyn, and $500 in Queens.

Home prices in Queens are actually rising faster than any other borough, up 6.8 percent since the first quarter of 2018 but remain the lowest of the three boroughs per square foot.