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October 2, 2025
1 Min Read
656 ViewsBrooklyn’s Waterfront Boom Fuels Record Prices
By Hannah Minnick
Brooklyn’s waterfront neighborhoods are undergoing a transformation — and the price tags are reflecting it according to new research from Brown Harris Stevens Development Marketing. In Q3 2025, closed sponsor sales in Brooklyn hit a record $1,490 per square foot, driven largely by high-profile developments like Williamsburg Wharf and One Domino Square.
These two projects alone have sold over 110 contracts in the past year, with average sale prices above $2,000 per square foot, feeding into a broader uptick in ultra-luxury market momentum.
“The developments in Brooklyn have been ‘coming into their age of luxury,’” said Jason Thomas of BHSDM, citing “larger-scale, higher-end finishes, [and] bigger amenities.”
In total, Brooklyn recorded 247 new development contracts in Q3, with contract volume reaching about $435 million — 18 % above the 10-year average. Despite this surge, Manhattan tells a different story: the supply of new-development condos has tightened, hovering roughly 25% below its 10-year average, and new contract volume there is down.
Manhattan’s average new development sales price per square foot remained relatively flat at ~$2,095. As the skyline shifts, Brooklyn is emerging as the new frontrunner in New York’s new-development market.
Read the full article on The Real Deal
October 2, 2025
1 Min Read
656 Views
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