Brownstoner: A Softer, Gentler Prospect Heights Market

raulism

Here's a post from Brownstoner.com found at
http://www.brownstoner.com/brownstoner/archives/2008/07/a_softer_gentle.php

It's based on an article in The Real Deal at
http://ny.therealdeal.com/articles/inside-the-open-houses-of-prospect-heights

brownstoner wrote: A new article in The Real Deal takes a look at the Prospect Heights market and sees some "softening." StreetEasy numbers show that median prices in the neighborhood dropped 4.8 percent, from $619,000 to $589,000 between he second quarter last year to the second quarter this year. The mag's reporter visits open houses and see "light" traffic (only two couples in an hour at The Washington Condos, above), though local broker Doug Bowen of Core Realty says Prospect Heights' prices are stable and there's high demand and price premiums for Vanderbilt Avenue pads. Bowen says new developments east of Vanderbilt are going for between $600 and $750 a foot. One prospective buyer at an open house said she was enjoying the lack of frenzied competition for properties in the area and noted that "this might be the right time to buy because it seems slower, less frantic, more relaxed."