East New York/Brownsville at a Glance
East New York, a residential area of single-family homes and a range of low-rise to high-rise multifamily buildings, is becoming a sought-after neighborhood for investment. Over the last 10 years, developers have been eyeing the area and pursuing the affordable opportunities the neighborhood presents. This neighborhood also offers unparalleled mass transit options and a commuter bus network that connects to both Queens and Manhattan.
The total dollar volume in East New York in 2021 was $394,212,572
The average Multifamily P/PSF in 2020 was $250
The average development p/bsf in East New York in 2021 was $61
Investment Sales: 2021
Total Dollar Volume of Investment Sales
$394,212,572
Avg Industrial PPSF
$266
Avg Multifamily Sale PPSF
$263
Avg Retail PPSF
$171
Avg Development Site Sale PPBSF
$61
Additional Demographics: 2020
Avg Household Income
$50,000
Transportation
Subways
Buses
BM2, BM5, B6, B12, B13, B14, B15, B20, B25, B82, B83, B84, Q24, Q56
Other Transportation
Long Island Rail Road
Neighborhood Vibes
There is a strong sense of community in eastern Brooklyn, with the heart of cultural activity taking place in the neighborhood of East New York. Most people who reside in the area are long-time residents, and block parties and street festivals in the residential enclaves are frequent. Locally-owned and national tenants call the main retail corridors on Atlantic Avenue and East New York Avenue home.
