Brooklyn real estate is booming in the southern part of the borough and one local real estate firm has the sale to prove it.
A milestone deal inked by Ben Bay Realty closed for a whopping $4.9 million in the Borough Park/Bensonhurst area last month, a sale Managing Member and Associate Broker Nicholas Venezia says, is indicative of how hopping the area is.
“I think it shows how hot property is in the area,” Venezia said of the three-property sale which includes 2064, 2070 and 2074 57th Street. “The three properties combined make a 100 x 100 lot and it closed for $4.9 million dollars to a local developer in the area. It’s [pretty] record-breaking.”
The original listing price, according to Venezia, was around $5.5 million.
“That area is kind of in high demand,” he added. “In my opinion, it’s a huge number for the area and it shows how strong Brooklyn real estate really is.”
Historically, the neighborhood in which these three properties lie was considered Borough Park. Current map data shows them located in Mapleton and within the confines of Community Board 12 which represents the neighborhoods of Borough Park, Dahill, Kensington and Midwood.
The zoning in this area of the district is restricted to R5, typical of three-and four-story attached houses and small apartment houses, according to the Department of City Planning.
Currently, the properties located at 2074 and 2064 57th Street are indicative of one and two-family homes. The lot located at 2070 57th Street is vacant.