A Conversation with Mark Neuwirth, Senior Associate Broker, Bellmarc Realty, Brooklyn, NY

Park Slope is a town with a population of about 62,000 in Brooklyn, NY. With it’s quiet tree lined blocks and liberal mindset it became extremely popular in the 1990s with families priced out of Manhattan. The area has some of the best rated restaurants in the area with a variety of upscale Italian and modern American cuisines well respresented. Manhattan is a 30 minute ride away via train and remains a major draw for night life and jobs.

Slopers
The Slope (as it’s known to locals) is predominantly family oriented with excellent schools and child friendly businesses. Baby sitters are most of the indigenious workers followed by teachers, tutors, pizza cooks and other restaurant workers.

Something For Everyone
Prospect Park is located at the top of the Slope and offers playgrounds, a Zoo and huge fields where parents discover just how fast (and far!) little kids can run. At the north end of the Park the farmers market is open on Saturdays offering the highest quality fish, meat and vegetables in the area. Just across Flatbush Avenue is the Brooklyn Public Library with huge selection of books in every field and many comfortable places to read.

A Historic Neighborhood
Most of the housing stock in the area was built in the 1880s from what was originally farmland. This growth was driven by the expanded access to the area from Manhattan via ferrys and horse drawn rail cars. The west side of Prospect Park is lined with luxurious mansions built for the wealthy owners of the time. Many of these buildings are preserved as part of the Park Slope Historic District, one of the city’s largest landmarked areas. A census in 1890 showed the area to be one of the wealthiest in the country. The developement of New York City’s underground train system made Park slope and all of Brooklyn much more accessbile and has been a major factor in the boroughs population growth.

What You Can Expect To Pay
The country wide slowdown of Real Estate has affected Park Slope less than many other neighborhoods because of the low supply of housing. The vast majority of buildings are small 4 story brownstone walk ups with 8 apartments or less. One bedroom can range between $400,000-$600,000, two bedrooms in the $600,000-$800,000 range and 3 bedrooms can cost anywhere from $800,000 to $1,000,00 and up. 4 family brownstone buildings usually start at $1,400,000 and can often cost $2.500,000 and considerably more closer to Prospect Park.

Schools and taxes
Park Slope has a number of highly regarded private and public schools. PS 321 educates Kindergarden through 5th Graders in the center of town. PS 39 and Ps 282 are also excellent schools that have become more popular as housing prices quickly rose. Taxes have increased in the past 10 years but still remain 75% less than many other parts of New York and New Jersey.

The Future – Are Home Prices Going Up Or Down The Slope?
One of the areas strengths is how little it has changed over time. Zoning regulations have restricted most new Condomium construction to Park Slopes west border on 4th Avenue. As the area grew in popularity services like supermarkets and restaurants grew in both quality and number. Future property values will continue to grow over time as more people discover just how beautiful and convenient the area is.  

Preparing To Buy
The best way to start shopping for a home in Park Slope is to spend time here. Visit our restaurants, parks and stores and it will quickly become obvious why the area is one of the nicest in New York City. One of the things for buyers to think about is what subway train they’d like to be near. The New York City Subway system is a major plus that makes getting to Manattan very easy.

Realtors and Technology
Along with the rest of the country Park Slope’s Real Estate agents have moved from the print media to the internet to market properties. The web has made it significantly easier for newcomers to explore unfamiliar areas. Every restaurant, bar and library has it’s own website and the profusion of micro blogs makes it possible for people around the world to gain a sense of what local life is like.  Realtors are also increasingly becoming aware of the importance of having good photographs and hiring professionals to shoot the properties they are marketing. If a picture is worth a thousand words a good photo can grab a shoppers attention in a thousandth of a second.  

Relocating to New York City?
I’ve lived in a variety of neighborhoods in New York City for the past 25 years. In the course of my 9 years in Real Estate I’ve found the very best values this city has to offer for many satisfied customers. Bellmarc is Manhattan’s largest privately owned firm and has been specializing in residential sales and rentals since 1979. If you’re thinking of buying, renting or selling a home here please feel free to contact me and put my experience to work for you.

Mark Neuwirth
Sr. Associate Broker
Bellmarc Realty
mneuwirth@bellmarc.com
212.239.0900 x217 | 917.922.3653

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This guest post is part of our Realtor Thursday Series. We invite realtors from towns and cities all over the country, big or small, to participate. Our goal is to “travel” to as many towns as we can in every state. Every town is unique and wonderful to our readers. If you would like to showcase your town, your neighbors and your talents as a realtor, please contact us at liz@dalesiegel.com