February 12, 2015
It's no news that prices in Bed-Stuy have been on the rise and then some. Just ask all the people who have as many as four roommates and still find their share of rent creeping close to the $1,000 mark. And what about buyers? Well, with the neighborhood's historic brownstones hitting record numbers, some agents say buyers are looking at condos as alternatives, reports DNAinfo. Halstead Property real estate agent Morgan Munsey said Bedford Avenue would soon become a "condo canyon." Why? "Fourteen studio, one-bedroom, and two-bedroom apartments will soon go on sale at a new 'boutique condominium development' at 1188 Bedford Avenue." With units at 1188 reportedly going for up to $825,000 — nearly a grand per square foot — it certainly looks like the condo boom is alive and well in Brooklyn, and Bedford Avenue it the new condo hot spot. Sure, $825,000 is hardly chump change, but it's a lot more affordable than dropping a million on one of those brownstones.
Thinking of buying a co-op or condo? Already bought, and not sure how co-op/condo life and rules work? Learn all about purchasing a place and living in your new community. It's not like renting, and its not like owning a house. What's it like?