Tag Archive brooklyn

ByCurtis Watts

Luxury Real Estate Trends to Watch in 2020 

What will 2020 bring?  These four trends are expected to impact luxury buying and selling in the new year and decade ahead. 

1. Luxury Housing Holds Steady

This year, expect “guarded optimism” to replace last year’s uncertainty over fears about a global economic slowdown, a U.S.-China trade war and a potential U.S. recession, according to Mansion Global. This is encouraging news for luxury real estate, which has traditionally been tied to global economic growth, yet is generally more insulated from market fluctuations. Many U.S. luxury housing meccas are generally stable, while some high-end hotspots like Los Angeles and Miami could be poised to rise or make a comeback in 2020. 

2. The Rise of the Mid-Sized Luxury Market 

When realtor.com released its annual list of the hottest markets last December, surprise cities like Boise, McAllen, Texas and Tucson topped the list. “The cities that we expect to do best in 2020 are not necessarily big, fancy, coastal cities, but secondary markets where the job market is still pretty good but housing is affordable,” said Danielle Hale, chief economist of realtor.com. Affluent buyers from high-cost cities want a good deal as much as anyone — so we expect to see midsized cities with stable and solid economies and more affordable housing as the top performers in 2020. 

3. Less Square Footage

“Less” is becoming “more” — even in the highest price segments. Consistent with NAHB data that found the average new single-family home size has been trending lower since 2015, realtors in some luxury markets are reporting that a growing number of affluent buyers are willing to “trade space for place.” This is especially true in the luxury condo segment, where buyers are increasingly getting flexible on square footage if a building has amenities or hospitality programs attached to it. 

4. Urbanization of the ‘Burbs, Emergence of ‘Hipsturbias’

People are moving back to the cities, it’s true — but as millennials start families another phenomenon has emerged, according to Emerging Trends in Real Estate 2020, a report released by Urban Land Institute and PwC: “hipsturbias.” Hipsturbias are suburban markets with hip or cool live/work/play environments offering walkability and/or transit access. Brooklyn is a prototype, but hipsturbia examples are beginning to crop up across the U.S. — from New Jersey communities such as Hoboken, Maplewood, and Summit, to New York’s Yonkers and New Rochelle, to Evanston, Illinois and further out west — Santa Clara, California, and Tempe, Arizona. 

Which trend do you see impacting your community?

The post Luxury Real Estate Trends to Watch in 2020  first appeared on Century 21®.

Source: century21.com

ByCurtis Watts

Newly Renovated, 1915-Built Townhouse in Park Slope Asks $4.4 Million

A four-bedroom townhouse with park views and tons of charm has recently hit the market, and we’re dying to tell you all about it. The listing, brought to market by Compass’ Michael J. Franco, is right next to Prospect Park, Brooklyn’s second largest park, and has plenty of outdoor space (and a rooftop deck to boot).

The townhouse sits in one of Brooklyn’s trendiest, most desirable neighborhoods — Park Slope — with its leafy streets lined with brick and brownstone townhouses, many of which were built near the turn of the 20th century and have been lovingly updated over the decades by young families migrating from Manhattan. Much like its neighboring properties, the 2,600-square-foot townhome at 15 Prospect Park was originally built more than a century ago in 1915 and retains its old-world charm — but has been carefully updated to meet modern standards of living.

beautiful townhouse in prospect park, Brooklyn
Park Slope townhouse on the market for $4.4 million. Image credit: Compass//Michael J. Franco

With 4 bedrooms, 3.5 baths, a generously sized living room, and a finished basement, the Brooklyn townhouse also comes with a few rare features for a New York home: ample outdoor space and private parking (that includes a private garage and its own driveway).

The layout is split on three levels, with the first floor housing a large living room and open dining room — both with distinctive pre-war features like classic moldings and arches — and a renovated kitchen that opens up to a lovely terrace.

inside a beautiful pre-war townhouse in Park Slope, Brooklyn
Beautiful living space with distinctive pre-war features like arches and moldings. Image credit: Compass//Michael J. Franco
dining room of a pre-war townhouse in park slope, Brooklyn
Beautiful living space with distinctive pre-war features like arches and moldings. Image credit: Compass//Michael J. Franco
renovated kitchen in Brooklyn townhouse
The renovated kitchen. Image credit: Compass//Michael J. Franco
lovely terrace of a pre-war townhouse in Park Slope, Brooklyn
The Park Slope townhouse has a lovely terrace. Image credit: Compass//Michael J. Franco

The second floor is home to 3 bedrooms and a sizeable landing which is perfect for either a library or a home office, while the third floor is dedicated to the primary bedroom suite and its massive walk-in closet, renovated bath with skylights and soaring ceilings, with a separate sitting area/den. The third level also provides access to the townhouse’s own rooftop deck, which adds more outdoor space and looks like a perfect place to entertain guests.

bedroom of a charming brooklyn townhouse in park slope
Bedroom opens up to Prospect Park views. Image credit: Compass//Michael J. Franco
bathroom with skylight in brooklyn townhouse
 Renovated bath with skylights and soaring ceilings. Image credit: Compass//Michael J. Franco
roof deck of a brooklyn townhouse in park slope
Rooftop deck of the $4.4 million townhouse in Park Slope, Brooklyn. Image credit: Compass//Michael J. Franco

The property is listed for $4,400,000 with Compass associate real estate broker Michael J. Franco.

More beautiful New York City homes

This Brooklyn Condo Has a Dreamy Backyard that Will Make You Forget You’re in the City
Trophy Apartment Once Owned by Composer Leonard Bernstein Asks $29.5 Million
These 5 Unique Listings Will Remind You of Everything that Makes NYC Real Estate Special
This $16M NYC Penthouse Has Unobstructed Views of Central Park and the Manhattan Skyline

The post Newly Renovated, 1915-Built Townhouse in Park Slope Asks $4.4 Million appeared first on Fancy Pants Homes.

Source: fancypantshomes.com