Bed-Stuy Home Prices Have Jumped 60% in Past 2 Years: Report

Bed-Stuy has become the realtor’s new frontier in Brooklyn.

During the past two years, more homes have sold in Bed-Stuy than in any other Brooklyn neighborhood — and their skyrocketing price tags are reflecting the demand.

Home prices in Bed-Stuy rose 21 percent in the past year, compared to a 9 percent rise across the rest of the borough, according to the Real Estate Board of New York.

The average price of a home in Bed-Stuy — including condos, co-op units and one-to-three family dwellings — is now $874,000, compared to $722,000 at this time last year.

This is an especially staggering rise, considering Bed-Stuy’s average home price already jumped another 39 percent the year before, from $518,000 to $722,000.

Experts have blamed Bed-Stuy’s boom in popularity on its centralized location — not too far out in the Brooklyn boonies — paired with its gorgeous crop of historic buildings.

“Transportation defines the neighborhood as much as the sturdy brownstones,” says the website for Halstead Property.

The real-estate broker advertises Bed-Stuy as “a real estate investors haven, a renters dream, or an architectural lover’s value neighborhood” and raves of a local renaissance:

Stoop sales throughout the summer, just like the old days in Geenwich Village. Antique stores on Bedford Avenue near Gates Avenue moved from 13th Street in Manhattan.

And with the rennaissance come the rich kids.

HT DNAinfo