Top Brooklyn real estate producers weighed in on the borough’s residential market, noting record-high sales and what’s driving the surge at a virtual panel March 11 hosted by the Hudson Gateway Association of REALTORS®, Inc. (HGAR) and OneKey™ MLS.
Hundreds of industry professionals tuned in for “Getting the Deal Done: The New Brooklyn—Inner Intel on NYC’s Booming Borough,” which featured Christine Blackburn, licensed associate real estate broker, Barak/Blackburn Team, Compass; Itzy Garay, licensed associate real estate broker, senior executive vice president and managing director of Sales/Brooklyn, Brown Harris Stevens; and Ravi Kantha, partner and director of Brooklyn Sales, Lesser Kantha Team, Leslie J. Garfield & Co.
“Brooklyn is definitely a market to watch,” said Richard Haggerty, CEO of HGAR and president and chief strategic growth officer of OneKey™ MLS, the regional multiple listing service for New York. “We’re so pleased to have such a knowledgeable panel here to share strategies for how REALTORS® can leverage the current dynamics and stay on top of their game.”
The discussion was moderated by Brian D. Tormey, NTP, president of TitleVest, a New York City-based provider of title insurance and related real estate services. The hour-long session focused on how Brooklyn is well-positioned to meet a growing demand for larger spaces, outdoor access and proximity to quality dining and entertainment.
“Brooklyn has really established itself as a destination of choice,” said Garay. “People no longer view Brooklyn as an alternative to Manhattan; they are choosing to put down roots here because of the incredible housing stock, sense of community, distinctive neighborhoods and unique energy.”
The panel cited Brooklyn’s abundance of townhouses and brownstones, venues such as BAM and Barclays, alternative types of transportation and neighborhood developments at Brooklyn Bridge Park, Domino Park and Brooklyn Navy Yard.
“The momentum in Brooklyn keeps building up,” said Blackburn. “We’re seeing more businesses here, a lot of technology companies, particularly in Northern Brooklyn, fashion entrepreneurs. And in the Navy Yard, there’s a lot of new and innovative businesses and their employees want to be close by, owning something where they can walk to work.”
Kantha pointed to the increased level of interest in high-end properties, in excess of $10 million. “Some of these buyers I would never have expected to see in Brooklyn—buyers from Manhattan, who could really buy anywhere. Some is due to COVID, some from the gradual ascension of pricing. But it’s the psychological factor, that feeling you get when you step into a neighborhood here—relaxing, quiet, beautiful, clean—that quality of life makes an impact.”
“Getting the Deal Done” is part of the “Be Your Best” webinar series created by HGAR and OneKey™ MLS, to help REALTORS® and agents navigate the changing landscape amid the pandemic. The event was sponsored by TitleVest.
For more information, please visit www.hgar.com.