It used to be that Brooklyn was the safe bet for phenomenal purchase deals versus the Manhattan value proposition … those kind of deals that those who bought in Manhattan back in the 80′s can brag about to the envy of their friends. Bragging rights no longer for today’s Brooklyn buyers. In fact, we would say that value-seeking Manhattanites have propped up the sister borough and then some.
While you can still get better absolute value than you can on the island, make no mistake about it: prices are not a steal and inventory might even be considered tighter than in Manhattan. You can expect much less wiggle room on price than historically and an increased sense of urgency from buyers who have already made Brooklyn their home and know the market inside and out.