Brooklyn’s most active neighbourhood

Over the years there were many neighborhoods that were considered undesirable – Bushwick, Bed-Stuy, East New York and Brownsville to name a few. With property prices raising every day – home buyers are priced out of many Brooklyn neighborhoods and are seeking affordability in the neighborhoods that were once deemed undesirable.

Bedford-Stuyvesant has topped the list as the most active Brooklyn neighborhood.  Financing has grown to an approximate 500 percent within the last year. According to a new report published by Actovia, a Mortgage Intelligence Agency – Bed-Stuy has seen a significant spike in Commercial sales and a boost of growth in financing. 58  properties were financed in the first quarter while the total has increased to 340 properties now that we are in the fourth quarter. The report has also stated that Bed-Stuy has dominated Brooklyn in property sales, followed by Greenpoint, Williamsburg, and Brownsville

The founder of Actovia, Jonathan Ingber credits the increased interest in Bed-Stuy due to the rising cost in NYC. I do have to agree with him – some people are willing to cross the bridge for affordability.

Image and info via The Real Deal

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