Prospect Park South Named Neighborhood To Watch In 2018

PROSPECT PARK SOUTH, BROOKLYN — The secret is out — a new study named Prospect Park South one of the top 10 up-and-coming neighborhoods in New York City.

The real estate website StreetEasy published its report on neighborhoods to watch in 2018 — by which they mean, watch for higher housing prices — and Prospect Park South ranked seventh on the list released Thursday.

Prospect Park South earned a mention on StreetEasy's list because of the low rents and its proximity to Prospect Park and several trendier neighborhoods, researchers said.

“Neighborhoods like West Harlem, Woodside, and Prospect Park South, which have long been outshined by their popular neighbors, are finally taking the spotlight in 2018,” said StreetEasy Senior Economist Grant Long.

“As New Yorkers seek to balance affordability with convenience, these nearby neighborhoods are seeing a surge of interest, growing prices, and an influx of new development.”

The study theorized that renters and buyers are favoring the “one-neighborhood-over” approach, looking for homes near expensive neighborhoods — such as Windsor Terrace and Park Slope — and worrying less about long commutes.

Prospect Park South was only the top third neighborhood in Brooklyn to watch — Fort Greene came in second and East New York came in fifth — but it beat out Brighton Beach, the fourth and last Brooklyn neighborhood on the list.

West Harlem in Manhattan took first place and Flushing in Queens took third. Only one Bronx neighborhood — Norwood — made the top ten and there were no shout outs for Staten Island.

StreetEasy researchers created their list by analyzing changes in sales and rent prices, listing views on StreetEasy and Department of Buildings data on how many new construction sites went up in the neighborhood in 2017.

Photo by Kathleen Culliton