Available condos in Bed-Stuy now ask for less than half the price of their counterparts in Manhattan on a price per square foot basis. Current listings show the average price of a Bed-Stuy condo is $753K ($810/ft2), 65% less than Manhattan's $2.15M ($1,856 ft2) average, and 51% less than northern Brooklyn's $1.55M ($1,207/ft2) overall condo listing average.
While some deride these new developments as negative signs of gentrification, these flats bring modern, amenity-rich choices previously uncommon to the neighborhood, allowing locals and first-time homebuyers to put down roots in their communities. Unlike in other more construction-constrained areas of Brownstone Brooklyn, prices in Bed-Stuy have remained flat in recent years, thanks to a steady supply of new construction usurping vacant lots.
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The latest Bed-Stuy newbie comes in at 707 Willoughby Avenue, near Malcolm X Boulevard. The seven-story building, developed by Joseph Rappaport's Vision Development, presents 20 one- and two-bedroom condos priced from $575K. Plans show efficient modern layouts with open kitchens and private outdoor space accompanying every unit. Furthermore, all homes have wide-plank oak floors, oversized wood casement windows, and LG washers/dryers. Kitchens have white stone countertops and Blomberg appliances, while baths have Italian porcelain tile walls and floors juxtaposed with matte black faucets and accents.
Shared perks will include private deeded parking spaces, a fitness center, climate-controlled storage units, bicycle and package rooms, and a furnished roof deck with an outdoor kitchen, private cabanas, and Manhattan skyline views.
707 Willoughby is located in one of Brooklyn's most interesting and vibrant areas, at the junction of Bed-Stuy, Bushwick, and South Williamsburg. The building is a five-minute walk to the J, M, and Z trains which can be had at the Myrtle Avenue-Broadway elevated subway station. Now wrapping up construction, renderings show the building will have a composite public face of tiers, inset balconies, and various facade treatments to better complement the scale of the surrounding area. S&S Architectural Design is the architect of record.
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