Thursday, January 26, 2012

What does it cost to live in Park Slope and what do you get for the money?

If you’re buying a house or an apartment, there are many reasons to buy in Park Slope.  But you’d better hurry.  They’re going fast.

Here’s the link to an article on that takes the temperature of the current market there.  It’s hot:

To add to what the article says, at present, out of 50 houses listed for sale, 21 are in contract.   Of 254 condos and co-ops currently listed, 79 are in contract. 

One very big reason for choosing Park Slope is the huge difference in prices for properties there and in Manhattan. 

The average price per square foot for a house in Park Slope is around $600.  And you can fall in love with something quite large and lovely, near the park, for somewhere in the mid-$3,000,000s.  Depending on your needs, you might even find something that makes you happy for less than $2,000,000.

That’s millions less than on the upper west side, where the average price for the 32 houses currently available is more than $7,500,000

For a 1 to 3 unit townhouse on the upper west side, in the last six months you’d have paid anywhere from $4,000,000 to more than $22,000,000, with the average price per square foot about $1,700.

There’s a huge difference in the prices of apartments, too.  For a two bedroom, two bath condo of at least 1250 square feet in Park Slope, you’ll pay an average of $1,050,000, or a little more than $600 per square foot.  On the upper west side, a similar condo would be well over double at about $2,500,000.

But it’s not just about price.  It’s also about a gorgeous park, block after block of beautiful brownstones, charming restaurants, the Botanic Gardens, BAM, and lots of other wonderful things Brooklyn has to offer. 

Here are links to previous posts on Park Slope houses:

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