Friday, March 7, 2008

Downtown Brooklyn Housing Sizzle Fizzling?

Curbed reports on questions regarding the Downtown Brooklyn boom:

Is the much hyped Downtown Brooklyn housing boom fizzling? The Brooklyn Daily Eagle, which is often exceptionally bullish on development in the borough reports that "construction of market-rate condominiums and below-market apartments has fallen far short of earlier predictions." The paper looked at 58 projects listed with the Downtown Brooklyn Partnership, accounting for $9.6 billion in investment. It found that of 5,285 market rate condos planned, about 1,400 have come on the market and about half of them are still listed for sale.
For the full Curbed post, click here.

To read the Eagle article, click here.