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All Forum Posts by: Aaron Liu

Aaron Liu has started 1 posts and replied 3 times.

Originally posted by @Jason Lee:

5 years is a pretty short timeframe to be looking at how the different neighborhoods are going to perform. The data I see breaks down Brooklyn into quadrants but not specific neighborhoods... I don't know that there's enough volume to do it by hood. My guess is the 5 year difference will be pretty nominal. If you look at 10-15 yrs then there might be a more noticeable spread.

I wouldn't necessarily rule out PLG. Being close to the park is a big plus for many. I toured 77 Clarkson on Sunday and liked it quite a bit. They're not marketing to families... neither is 111 Montgomery. I personally like the northwest corner of Crown Heights between Washington and Franklin. Lots of great restaurants and night life. Not much condo inventory. My listings there tend to bring in a lot more artists, designers and architects. I do a lot of deals on 4th ave in Gowanus. There's good transportation and close to lots of amenities on 5th. All that industrial space isn't highest and best use and so long term I could see more zoning changes and possible growth.

In the end though, this going to be your primary residence and so I would pull the trigger in a neighborhood and building where you really want to live.

 I also toured 77 Clarkson and 111 Montgomery. I thought 77 Clarkson had a better location but the interior quality was slightly lacking. 

I’m not too familiar with the Crown Heights area but I didn’t see much in the immediate vicinity other than the park. Super nice building though!

Hey Eric,

Thanks so much for the detailed response. I’ll shoot you a PM in a minute! One follow up question to the above that I’d pose here as it may be helpful to others as well: 

Would your sentiment re: not buying a 1BR in PLG also apply to Prospect Park South? Or do you think there’s enough cafes/restaurants in the area to make it more appealing to young professionals?

Hi all, 

I am currently looking into purchasing a 1BR condo for my first home. As someone who is still getting familiarized with the Brooklyn market, I'd love for any thoughts on good neighborhoods in Brooklyn for future price appreciation? 

To be more specific, I've looked at properties in the Park Slope / Prospect Heights areas and really liked them. I've also looked at places in PLG/Prospect Park South, where the new buildings are way nicer but the area itself seems less developed. 

I'm curious if you all think one neighborhood would yield a better investment over the next ~5 years? Obviously the lower starting prices in the latter areas potentially give it a natural edge, but not sure if the PLG/Prospect Park South neighborhoods are still a whiles away from meaningful price growth. Put another way, I'd be willing to pay more for a similar unit in Park Slope if the % price appreciation would outpace that of PLG. 

Thank you in advance for your thoughts!