Crown Heights, Flatbush Lead in Brooklyn Multifamily Transactions
BROOKLYN — More multifamily transactions were recorded in Flatbush and Crown Heights than in any other Brooklyn neighborhood in 2011, according to a report from Ariel Property Advisors, an investment property firm with a focus on the multifamily market.
The report, “Multifamily Year in Review: New York City 2011,” also found that Williamsburg was the neighborhood in Brooklyn whose transactions had the highest dollar value.
In 2011, there were 23 transactions consisting of 34 buildings with a total dollar value of $107 million in Flatbush, 20 transactions consisting of 22 buildings with a total dollar value of $128 million traded in Crown Heights, and 11 transactions consisting of 13 buildings with a total dollar value of $264 million in Williamsburg, according to Jonathan Berman, vice president of Ariel.