Real Estate
These Mayoral Candidates Think Brooklyn Homes Cost $100K
Patch took a look at what the $100,000 guessed by two candidates as the median home price would actually get you. Hint — it's nothing.
BROOKLYN, NY — The $100,000 two New York City mayoral candidates think is a normal price of a home in Brooklyn might actually get you a decent spot — for your car.
Two candidates vying to become the city's next mayor, Shaun Donovan and Raymond J. McGuire, made headlines this week when they guessed in a New York Times interview that the median home price in Brooklyn is around $100,000. The real figure stands at $900,000.
The candidates — a former federal housing secretary and an investment banker — were quick to claim the answers were a mistake. But, the outcry was swifter.
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"I want to live in the world those two are," one Twitter user replied.
Maybe the candidates thought the question was about Brooklyn, Iowa? Suggested another.
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The price-tag could probably get you a plastic playhouse in the borough, jabbed executive director of the Housing Rights Initiative, Aaron Carr.
A $100,000 home in Brooklyn pic.twitter.com/KLNozZYAHL
— Aaron Carr (@aaronAcarr) May 12, 2021
As has been pointed out, the $100,000 price won't cover any home currently on the market in Brooklyn. In fact, the cheapest listing, at $100,000 exactly, is for a space in a parking condominium in Cobble Hill.
Even at $150,000, only two homes, and a plot of land, are available for less, according to Realtor.com.
Housing expert Nicole Gelinas told the Times that the last time a median home price in Brooklyn was around $100,000 was likely the 1980s.
“You’re looking at 35 years or more since you could really buy anything below six figures, never mind seven figures,” Gelinas said.
The median home price question was one of several the Times' editorial board asked eight of the top candidates for mayor. The newspaper ended up endorsing former sanitation commissioner Kathryn Garcia.
Garcia, one of five candidates who lives in Brooklyn, guessed $800,000 on the home-price question. Other guesses included Brooklyn Borough President Eric Adams with $550,000, Dianne Morales with $500,000, Maya Wiley with $1.8 million, Scott Stringer with $1 million and Andrew Yang, the only to answer correctly.
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