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The past few months have given rise to a myth about the mass exodus from New York to the suburbs, but the reality is a bit more nuanced than that. Listings have risen while contracts have fallen in Manhattan, yet things could scarcely be more different in other boroughs; as appraiser
Jonathan Miller noted, “The urban-to-suburban story has to be recast as Manhattan-to-suburban.” A
report from Douglas Elliman shows that Brooklyn co-op deals climbed
181 percent last month to a total of 138. Brooklyn condo deals also rose by 33 percent with three contracts above $4 million. Additionally, single-family home contracts in Brooklyn came to a total of 128 in August 2020, up from 50 in August 2019.
Townhouse living isn't necessarily most New Yorkers' first choice, but there is a way to experience the best of both worlds. Throughout Brooklyn, a number of historic brownstones have been converted to boutique condominiums with expansive floor plates, state-of-the-art finishes and appliances, and private outdoor space. These are located on tranquil tree-lined blocks, but with easy access to shopping, dining, and transportation.
