The Prospect Team

Our latest February 2025 market snapshots reveal striking differences between Brooklyn and Manhattan real estate. Manhattan's average price point $3.32M is more than double Brooklyn's $1.37M, with price per square foot at nearly twice the rate ($1,769 vs $893). Brooklyn is a much bigger borough than Manhattan though, and Brooklyn neighborhoods vary greatly, so it’s important to keep this in mind.? Brooklyn properties are moving faster (128 days vs 215 days on market), but Manhattan isn't far behind with inventory levels almost identical at around 3,000+ properties. Looking to buy or curious about neighborhood trends? Let's connect to discuss these numbers and what they mean for your real estate goals! #NYCRealEstate #MarketUpdate #BrooklynvsManahattan #TheProspectTeam #LuxuryLiving Daniella Guetta Paul Hyun Ian Mednick Alicia Lombardo

Name That Borough with these helpful hints: - Iconic bridge - One of the largest free Black communities in pre-Civil War America - Famous steakhouse - Wooden roller coaster - Japanese Hill-and-Pond Garden and Cherry Esplanade - Home to the annual mermaid parade - Park designed by Frederick Law Olmsted and Calvert Vaux in the mid-19th century Did you guess it? We’re sharing these fun facts in anticipation of this week’s meeting on Wednesday, March 5th. Our Vice President Jay Zimner will interview Brooklyn residential real estate expert Paul Hyun for the featured interview. Paul is Co-Founder of The Prospect Team and a Licensed Associate Real Estate Broker. A trusted advisor with exceptional analytical skills, Paul believes that information and preparation are paramount. By empowering his clients with data and details, he provides a level of certainty and assurance that makes for a stress-free and seamless transaction. His legal background as a patent litigator and bank mortgage attorney makes him a powerful negotiator, deal facilitator, and client advocate. Paul lives in Park Slope, Brooklyn with his wife and two young kids. When you join our meeting, you’ll also meet more than 50 professionals from a wide range of fields. The 411: Wednesday, March 5th from 7-9 a.m. The Cornell Club-New York 6 East 44th Street New York, NY 10017 Floor varies / please ask in lobby Come grow your business! Register at bit.ly/LIprereg #Brooklyn #BrooklynRealEstate #NYCRealEstate

Did you know that Brooklyn is emerging as a first choice for expats seeking a vibrant New York lifestyle? According to a recent Forbes article, as the borough offers a unique blend of urban energy and community-driven atmosphere, it’s now attracting professionals from all around the globe. With its diverse neighborhoods, cultural richness, and dynamic real estate market, Brooklyn stands out as a premier destination for those looking to experience the best of NYC living. ?? Read more here: https://lnkd.in/en4ffpCz ?? If you’re thinking about buying in Brooklyn, reach out. We’d love to show you around town! #BrooklynLiving #ExpatLife #NYCRealEstate #UrbanLifestyle #CompassBrooklyn?#NYCLifestyle #TheProspectTeam

On Tuesday, during our public earnings call, Compass shared early insights from an internal study that analyzed our 2024 sell-side transactions that were pre-marketed as a Compass Private Exclusive and/or a Compass Coming Soon before going active on the MLS. Compass listings that were pre-marketed: 1. Were associated with a 2.9% higher average close price.? 2. Received an accepted offer 20% or 8 days faster on average once active on the MLS. 3. Created value for homeowners as ~30% fewer listings on average had a price drop once active on the MLS. We believe these strong proof points demonstrate that the Compass 3-Phased Marketing Strategy is associated with better outcomes for homeowners?– to learn more click here: https://lnkd.in/enutuaym

Both Brooklyn and Manhattan demonstrate year-over-year growth, with Manhattan's median sale price rising 16.7% to $1,225,000 and Brooklyn's surging 18.3% to $1,100,000. While Manhattan experienced a slight monthly price dip of 2.9%, Brooklyn maintained upward momentum with a 2.9% increase. Manhattan commands a higher price per square foot at $1,479 compared to Brooklyn's $903, although Brooklyn properties sell considerably faster, averaging 117 days on market versus Manhattan's 176 days. Inventory levels also vary significantly, with Manhattan holding 5,797 properties and Brooklyn at 3,069. This suggests a resilient NYC real estate landscape, with each borough presenting unique opportunities for investors and homebuyers. The consistent growth signals underlying market strength, despite minor monthly fluctuations. #NYCRealEstate #MarketTrends #DontWaitToBuyInNYC #TheProspecTeam Paul Hyun Ian Mednick Daniella Guetta Alicia Lombardo

Paul Hyun Daniella Guetta Ian Mednick Alicia Lombardo

https://lnkd.in/d9AiHzj9 ?? Just Sold: 133 Fort Greene Place ?? An impressive case study in property value growth! In 2021, we sold this stunning two-family brownstone for $4,720,000. Just three years later, we sold it again in 2024 for $5,600,000, cash, 5 week close—an 18.6% increase with no changes made to the property. This sale highlights the strong demand for well-maintained, move-in-ready properties, even in today’s tight market. With limited inventory and buyers eager for quality homes, now is the perfect time to list your property and achieve exceptional results. If you’re considering selling or simply want to explore your property’s potential, reach out to us today. Let’s make your home the next success story! ?? Contact us and maximize your property’s value. Paul Hyun

According to our latest market report there are notable shifts in the Brooklyn and Manhattan market. ?? In Brooklyn, the average sales price is up by 12% from November to $1.32m, with a median sale price of $1.11m (+13.3%) and an average price per square foot of $981.? Manhattan’s average sale price rose 1.9% to $2.31m and the average price per square foot increased 2.6% to $1,551, however the median sale price dipped to $1.1m. Both boroughs saw a further decrease in inventory. As we move into 2025, the market continues to show resilience. #NYCRealEstate #LuxuryRealEstate #MarketTrends #Compass Paul Hyun Daniella Guetta Ian Mednick Alicia Lombardo

Happy New Year! ?? Wishing you happiness, good health and lots of success in 2025! hashtag #Brooklyn #NYE #HappyNewYear Daniella Guetta Paul Hyun Ian Mednick Alicia Lombardo

Brooklyn's luxury market saw 19 contracts signed last week for properties asking $2 million or more, totaling $60.3 million in volume. This included 11 townhouses and eight condos with a median asking price of $2.9 million. We’re excited to share that our listing at 133 Fort Greene Place topped last week’s luxury market, with a last asking price of $5.7 million. A stunning, gut-renovated townhouse that perfectly reflects the quality and charm Brooklyn buyers are seeking. ?? Read more here: https://lnkd.in/eUDHhSTp #TheProspectTeam #BrooklynRealEstate #CompassNYC #LuxuryHomes #InContract Paul Hyun Ian Mednick Daniella Guetta