Shutterstock

The borough is on track to hit $2 billion in property sales this year.

In Brooklyn, good times are back.

According to a report by real estate firm Massey Knakal, property sales are up 12 percent in the first quarter 2012 compared to this time last year. Overall, sales were $683 million, double what they were at this time last year. If the borough continues to burn through real estate at this pace, sales consideration will top $2 billion for the first time since 2008.

Brooklyn is having a standout quarter compared to the rest of the city, where sales performed modestly ("disappointingly not better and simultaneously happily not worse" than the fourth quarter of 2011). Hat tip to Brownstoner for the report.

Photo credit: Jonathan Feinstein /Shutterstock

About the Author

Most Popular

  1. Warren Logan
    Transportation

    A City Planner Makes a Case for Rethinking Public Consultation

    Warren Logan, a Bay Area transportation planner, has new ideas about how to truly engage diverse communities in city planning. Hint: It starts with listening.

  2. an aerial view of Los Angeles shows the complex of freeways, new construction, familiar landmarks, and smog in 1962.
    Transportation

    The Problem With Amazon’s Cheap Gas Stunt

    The company promoted its TV show The Marvelous Mrs. Maisel with a day of throwback 1959-style prices in Los Angeles. What could go wrong?

  3. Maps

    The Map That Made Los Angeles Make Sense

    For generations in Southern California, the Thomas Guide led drivers through the streets of Los Angeles. Now apps do that. Did something get lost along the way?

  4. Illustration showing different neighborhoods of a city in different colors, resembling a 3D zoning map.
    Design

    CityLab University: Zoning Codes

    Don’t know your R1 from your FAR? We’re here to explain how zoning laws work, how these ordinances shape your city and neighborhood, and why we fight over them.

  5. A photo of a police officer in El Paso, Texas.
    Equity

    What New Research Says About Race and Police Shootings

    Two new studies have revived the long-running debate over how police respond to white criminal suspects versus African Americans.

×