Downtown Brooklyn has more than doubled its population in the last ten years, is now home to over 58,000 residents, with 22% of the households with school-aged children. It features over 130 eateries, two major shopping centers, has 13 subway lines and short walks to Fort Greene Park, Cadman Plaza Park and Brooklyn Bridge Park. Find out more about apartment prices, new restaurants and amenities for families, a new public school and upcoming kid-friendly events.
Downtown Brooklyn real estate news*
A true urban downtown where food, culture, and transportation are all in abundance — and amenity-packed new developments provide a lifestyle that is unique to this Brooklyn neighborhood. Downtown Brooklyn has changed dramatically since the rezoning in 2004 which allowed for residential growth. New condos have reshaped the skyline, bringing a new mix of people and businesses to an area once known for courthouses, colleges, and office buildings. Prior to the rezoning most of the residences in Downtown Brooklyn were housed in two large Coops, Concorde Village and University Towners. There are not many townhomes left in Downtown Brooklyn so the housing stock is generally apartments, many of which are new condominium high rise buildings with sweeping views and full amenities.
There is a truly diverse housing stock that runs from affordable coops – converted industrial loft apartments – to luxury condos. Of the 128 units currently for sale in Downtown Brooklyn 77 are Condominiums, 38 are coops, and 12 are Condops (Brooklyn Point). Interestingly these units are spread out over 15 buildings which speaks to the density of the urban environment. Below is a break down of the market fundamentals.
| Property Type | Studio & 1 Bedrooms Average Asking Price | 2 Bedrooms Average Asking Price | 3 or more Bedrooms Average Asking Price |
| Condo | $1,072,000 | $1,795,000 | $3,068,000 |
| Coop | $542,000 | $833,000 | Only 1 listing at $1.3M |
| Condop* | $1,264 | $1,905,000 | $2,737,000 |
*We are listing out the Brooklyn Point new development separately as it is a Condop. The project is built on city land by leasing the land for a period of 25 years. At the end of the lease the building will have the option to purchase the land and convert to a condominium.
The available inventory shows the depth of the market from affordable coops, built in the early post war error to the newest tower that are teetering on price per square foot record prices. Three new condo projects must be mentioned when thinking about the Downtown Brooklyn market and they are 11 Hoyt, Brooklyn Point, and Brooklyn Tower. These projects are the leaders in the market as far as design, construction, lifestyle, amenities and price. Many of the new development condominiums are now offering incentives to prospective purchasers as they look to close out their initial offering so the deals are looking far more attractive than previously. Many Condo buildings in Downtown newly built and offered or built after the rezoning in 2004, have qualified for tax abatements which keep the carrying costs on the residents relatively low.
Photo: 150 Myrtle Avenue
Downtown Brooklyn food news
New restaurants and eateries are popping up all over Downtown Brooklyn, recently opened or opening soon:
- Taco Madre at 374 Pearl Street
- Chinah at 2 MetroTech Center
- 8-Bit Bites at 113 Court Street
- Little Pizza Parlor at 192 Duffield Street
- Next Stop Vegan is Downtown Brooklyn’s newest plant-based restaurant located at 88 Livingston Street.
- Opening soon: Naya Middle Eastern at MetroTech Commons
Downtown Brooklyn amenities for families
A new STEAM Center for kids 5 years and up is open on Flatbush Avenue. STEAM CHAMPS is a kids coding, robotics and arts educational center. Kids learn how to create video games, build & program robots, code apps, and play chess all while having fun in a safe environment where they encourage teamwork and instill a champion’s mindset. Kids ages 5 – 12 and all beginners are welcomed. www.SteamChamps.com or call 347.391.3438.
Two new daycares recently opened up in Downtown Brooklyn. Petits Poussins, a French-English bilingual daycare and preschool is now open 11 Hoyt Street at the retail level of a new high rise. They have 6 classrooms for children 3 months to 5 years and are able to welcome 64 students. Each classroom is run by 2 teachers, one French native speaker and one English native speaker. Find out more here. Lightbridge Academy daycare and preschool is open on Duffield Street between Fulton and Willoughby bringing much needed daycare seats for babies as young as 6 weeks old to Downtown Brooklyn. Find out more on their Website.
A new public school at 424 Albee Square West in District 13 with 312 seats is scheduled to open in September 2023 (originally planned as an elementary school but no details on the zoning yet). “The Department of Education and District 13 leadership are working closely with CEC 13 and nearby school communities to determine the best use for the new capacity” according to the press office of the Department of Education. The building is planned to have the below amenities:
- Project Room
- Music Room
- Playground
- Gym
- Library
- Cafeteria
- Medical Suite
Brooklyn Commons formerly known as MetroTech Center in Downtown Brooklyn will be redeveloped for $50 million including the renovation of several office buildings within the campus, upgrades to the central public park space, and a year-round arts and event program that will be free and open to the public. Upgrades to the 3.6-acre Brooklyn Commons Park will include enhanced outdoor seating, new lighting, new signage and wayfinding, redesigned landscaping, seasonal gardens, and plantings. Arts Brookfield will put together a calendar of free public events and activities. No timeline has been given but we expect the outdoor area to be upgraded by the end of 2023.
Life Time Fitness will open a massive fitness club with coworking launch and outdoor pool at Brooklyn Tower. No timeline available yet.
Upcoming family-friendly activities and events:
- Downtown Brooklyn Gets Lit: Holiday Lighting Party at Albee Square on Friday 11/18 at 5 pm
- Catch a movie at the BAM for $8 until the end of the year with code BAMFILMFAN
- THE MAKERS SHOW Holiday Market at CityPoint featuring 60+ vendors will run from November 25 to December 24 Fridays to Sundays with additional family-friendly experiences including gingerbread house and Hanukkah cookie decorating with One Girl Cookies (tickets here) and free photos with Santa on Sundays in December from 11 am to 2 pm.
- A new outdoor Holiday market is coming to the Borough Hall Plaza for the first time this year from November 28th to December 26th from Monday to Sunday 11 am to 8 pm. They will have 10 to 12 food vendors onsite offering sweet and savory options including Mozzarepas, Petisco Brazuca (Brazilian), Winter Pie Shop and BIBI Bakery and lots holiday gift shopping
- Light up Brooklyn Commons on Wednesday 11/30 at 5.30 pm. Attendees can explore an exhibition of carved ice sculptures, behold joyful musical performances, sample holiday treats, and watch Santa lighting the Brooklyn Commons Christmas tree.
*Our partners, Peter and the Riolo Property Team at Compass are here to provide more detailed reports or collections of properties in Downtown Brooklyn. Access to all listings is free, you just need an account with Compass.
