2025 Notable Openings
$1,407
Downtown Brooklyn Residential Market Characterized by Record Housing Delivery, Rising Rents, and Fluctuating Asking Prices
In 2025, Downtown Brooklyn’s residential market was characterized by rising housing costs despite a 30% year over year (YOY) increase in rental inventory, indicating continued demand for housing in the neighborhood. Another noteworthy trend is, compared with surrounding Brooklyn neighborhoods (DUMBO, Cobble Hill, Brooklyn Heights, Boerum Hill, and in some cases Fort Greene), Downtown Brooklyn condo pricing and asking rents remains relatively competitive.
2025 Residential Market Trends
Record housing delivery
• Downtown Brooklyn delivered more than 4,500 housing units in 2025, the most in a single year in the district, with 16 residential and mixed-use developments completed in 2025.
Housing demand remains strong despite elevated housing costs
• Between 2019 and 2025, Downtown Brooklyn condo prices showed minor fluctuations, but generally remained within a range of $1,305 to $1,452 per square foot (PSF).
• Asking rents rose steadily from 2020 onward, reaching $6,075 in 2025, the same year monthly rental inventory reached a record high of 611 units.
• Both condo prices PSF and asking rents increased YOY and relative to 2019 levels. Condo prices rose 6% from 2024 to 2025 and were 2% above 2019 levels. Asking rents increased 3% YOY and were nearly 30% above 2019 levels. The increase in rents despite a substantial year-over-year rise in rental inventory indicates a robust and sustained demand for housing in the district.
Emerging divergence in condo pricing metrics
• Condo prices PSF rose 6% from 2024 to 2025, while overall condo prices across all unit sizes declined 7% --the first time this divergence was observed; from 2019 to 2024, condo prices per square foot and overall prices generally coincided with one another. The 2024–2025 divergence may indicate a higher share of smaller units on the market in 2025.
