The New BQE: Brooklyn, Queens Expensive
July 11, 2016 — Apartment prices in outer boroughs also hitting new highs.
Home sales prices in Brooklyn and “the new Brooklyn” – that is, Queens – hit new highs during the second quarter of this year, according to real estate reports released last week.
Average apartment sale prices across Brooklyn increased 10 percent over the past year, reaching a record $746,277, according to the market report from Halstead, DNAinfo reports. Not to be outdone, the average price in Queens also set a record, rising nearly 17 percent from the previous year to $526,942, according to a report from Douglas Elliman.
As we reported last week, the median price for a Manhattan condo hit $1.65 million during the second quarter, the second highest on record.
No doubt we’ll soon be hearing similar reports from the Bronx and Staten Island.