Brooklyn Heights
Brooklyn Heights’s convenient location has long made the area popular for prospective New York residents on a budget. Manhattan is just as accessible from this neighborhood as it is from the Upper West Side, yet rents are considerably lower. With easy access to the subway and to MTA Regional buses, residents have no trouble getting around the city. The neighborhood is also known for having beautiful, high-quality houses, safe streets, good schools and universities, and abundant green spaces. All of these features have created a constant demand to live in Brooklyn Heights, making local real estate a lucrative investment. Prospective Brooklyn Heights real estate owners should consider buying:
Historic Townhouses
Brooklyn Heights has been around since 1834, and its many townhouses reflect all of the major architectural changes that have occurred since then. The most popular styles include Italianate, Federal, Greek and Gothic revival, Second Empire, and Romanesque. Houses built in these styles are in high demand among those with a passion for history, and this helps to explain the area’s high property prices. Most townhouses range in price from $6 million to $8 million, and the larger properties can cost as much as $40 million. Property values have been rising more quickly for Brooklyn Heights real estate than they have been for properties elsewhere in the borough, making even the most expensive townhouses a good investment.
Besides relying on increases in property prices, Brooklyn Heights real estate owners also have the opportunity to profit by renting their houses to local tenants. Houses with three beds and one to three baths range in price from $7,000 a month to more than $11,000. The most expensive Brooklyn Heights houses, those with five or more bedrooms, rent for more than $16,000 a month, and sometimes as much as $30,000.
Most of Brooklyn Heights fits within one of three historic districts, which are designed to preserve the area’s original architecture. As a result, it is difficult to modify houses that already exist or to build new ones.
Brooklyn Heights Real Estate – Available Apartments
Besides houses, Brooklyn Heights offers apartments in a wide range of sizes and price ranges. The cheapest apartments are studio ones, which usually cost between $300,000 and $400,000. One-bedroom apartments are more expensive, ranging in price from $450,000 to as much as $750,000. Brooklyn Heights real estate owners often have to renovate their properties, which can add more than $50,000 to the overall cost. These apartments rent for between $2,000 and $4,000 each month. These rents are comparatively low given Brooklyn Heights’s proximity to Manhattan, making them attractive to college students.
Apartments with two to three bedrooms range in price from $950,000 to more than $3 million. Rents for these apartments range from $2500 a month to $10,000, and should be marketed to families seeking to live in the area.
Brooklyn Heights Real Estate Amenities
Whether you’re buying Brooklyn Heights real estate to live in or to rent to someone else, it’s crucial to know which amenities are in the area before you purchase. Brooklyn Heights is a well-supplied area known for offering its residents quality public services and conveniences. The neighborhood is particularly well-known for being home to Public School 8 Robert Fulton, one of the most successful K-8 schools in the city. Students at this school are twice as likely to meet grade level standards for English and math as students in New York as a whole, which is why there is a waiting list to enroll. Brooklyn Heights is also home to two quality K-12 private schools, the Packer Collegiate Institute and Saint Ann’s School. Higher education opportunities include Saint Francis College and Brooklyn Law School.
Besides schools, Brooklyn Heights is also known for its cleanliness and abundance of green space. Since 2008, residents have been able to enjoy Brooklyn Bridge Park, a post-industrial green space along the East River waterfront that offers volleyball, basketball, kayaking, fishing, and a wide range of other sporting activities. Residents can also enjoy the historic Brooklyn Heights Promenade, a five block walkway that provides a beautiful view of the Manhattan sky line. The neighborhood is also home to a wide range of stores, restaurants, and shopping centers.
Find your dream home in Brooklyn Heights today by searching the Brooklyn MLS HERE.