Real Estate
Bed-Stuy Tops Brooklyn Home Sales: Study
More than 7,000 homes were sold in Bed-Stuy over the past decade, the second-most of any New York City neighborhood.
BEDFORD-STUYVESANT, BROOKLYN — A decade-long, 7000-home buying blitz blasted Bed-Stuy to the top of Brooklyn's buzzy real estate market, a new study found.
Bed-Stuy sold the second-most homes in the neighborhoods ranked by the PropertyClub study titled "The 50 Best-Selling NYC Neighborhoods from 2010 to 2020." Only Flushing in Queens sold more homes.
The study confirms what many Bed-Stuy residents already know — the neighborhood's real estate market is booming — but it also provides eye-opening hard numbers.
Find out what's happening in Bed-Stuyfor free with the latest updates from Patch.
Buyers dropped $5.5 billion on 7,219 Bed-Stuy homes since 2010, the study found.
No other Brooklyn neighborhood came close. East New York ranked as Brooklyn's runner up with 5,000 home sales totaling about $2 billion.
Find out what's happening in Bed-Stuyfor free with the latest updates from Patch.
Developers, real estate agents and gentrifiers came out as winners in Bed-Stuy's boom decade, but it proved less positive for long-time Bed-Stuy residents. The neighborhood is the epicenter of city debates over affordability and gentrification.
Neighborhood advocates and city programs have pushed for more affordable housing options for low-income residents being pushed out of their neighborhoods. Many long-time residents have become the targets of predatory developers who cheat them out of their deeds.
The PropertyClub study can be read here.
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