The average price per SF of multifamily buildings this year in Brooklyn was $403 up from 2021’s average of $367. The average price per unit was approximately $368K, up from $320k in 2021.
The Greater Downtown Brooklyn region achieved the highest average price per SF at $708.
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Multifamily Transactions
2022 was a record year for Multifamily rent growth and investment sales volume, which increased 70% compared to 2021. Despite a banner year for Multifamily assets, rising interest rates in the second half of 2022 coincided with an 8% drop in total Multifamily transaction volume in the second half of the year compared to the first half. Multifamily asset pricing also fell off in the second half of 2022, with the average price per unit dropping to $342k, compared to $395k in the first half of 2022.
Brooklyn 2022 Market Report Multifamily
Multifamily Insights
2022 Avg Sale Price: $6.4M
Average Sale Price by Region
- Central Brooklyn $8.2M
- East Brooklyn $1.8M
- Greater Downtown Brooklyn $10.5M
- North Brooklyn $8.7M
- North-Central Brooklyn $3.3M
- South Brooklyn $10.4M
- West Brooklyn $3M
Eighth Avenue Portfolio Case Study
Our multifamily team were the sole brokers in the sale $37,00,000 of a 47-unit portfolio on Eighth Avenue in Park Slope.
The team conducted three highest and best bidding rounds, increasing the sale price by 15%, which resulted in an additional $6,000,000 for the seller
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Brooklyn Neighborhood Guides
Our neighborhood guides tell you everything you need to know about Brooklyn, from comprehensive market data to the best places to eat, shop and play.
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