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Market Trends: Outer Boroughs Continue to Attract Buyers

Posted by admin on 21st January 2018
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New York, NY – While North Brooklyn and Long Island City stole the spotlight in 2017, the trend toward outer-borough living continues to push deeper into the once sleepy areas of Midwood, Flatbush and Prospect-Lefferts Gardens (Brooklyn) and upgrade-ready Jackson Heights, Sunnyside and Woodside (Queens). Even Staten Island is coming onto the radar.

 

Unlike years past, New Yorker’s taste for off-the-beaten-path neighborhoods has expanded due to the increased cost of living in Manhattan, a new East River Ferry, and a car sharing economy that has made travel within the boroughs easier and more affordable.

 

Brooklyn and Queens saw record-setting sales in 2017 and that trend shows no signs of slowing down. According to StreetEasy’s recent round-up of “NYC’s Neighborhoods to Watch in 2018,” outer-borough enclaves in Brooklyn and Queens dominate the list – with Fort Greene, East New York, Prospect Park South and Brighton Beach in Brooklyn, and Flushing, Elmhurst and Woodside in Queens – listed among the Top 10.

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