BROOKLYN IN THE AVANT-GARDE By Gerard Longo, Principal at Mettle Property Group
have been fortunate enough to be in the real estate industry in what is arguably the capital of the real estate world. There is nothing more iconic than Manhattan with its unique architectural landscape. In a place where growing horizontally wasn’t an option, Manhattan became a pioneer in vertical living. In my thirty years of experience, I would have never guessed that Manhattan could have found a way to expand horizontally. So much so that in recent years we have watched the real estate revolution push its way across the river into Manhattan’s outer borough sibling. At the forefront of this trend is my hometown of Brooklyn, which by many accounts has become an international destination not only to live and work in but for tourism, as well. At one point in time, a vast majority of those who resided in the outer boroughs made the daily commute into Manhattan for work. Nowadays we see that commerce is expanding and offering many opportunities to also work in Brooklyn.
LIVE, WORK, VISIT BROOKLYN Go to www.Reveel.it and snap a photo
Brooklyn is rich in history and cultural assets. It continues to be a real melting pot of diversity stemming from the immigrants who came to the New World in the 1800s to present day families relocating to experience Brooklyn’s unique energy. In 2016, Brooklyn saw a 5 percent increase in their population from the previous year, which equates to approximately 124,500 people. The borough also saw the highest growth in private sector jobs with an increase of 12.8 percent—more than double the national average, a 3.8 percent drop in unemployment, and wages rose by 4.7 percent (Source: New York City Economic Development Corp.).
BROOKLYN BOOM
Photo by Julienne Schaer
With Brooklyn continuing to surge, it’s no surprise that the borough has become a launching pad for startup companies. Co-working spaces have increased, and nearly every neighborhood has an affordable option for motivated individuals looking to start a business on their own. In particular, the tech space is having its own Brooklyn moment. According to a 2015 report published by the Brooklyn Tech Triangle, more than 1,350 tech companies have established roots in the space between the Brooklyn Navy Yard, DUMBO and Downtown Brooklyn, employing over 17,300 people in the process. Along with startups, Fortune 500 companies are also looking to move into the borough. Recently, Amazon announced it would be opening a second headquarters in the Northeast and Brooklyn is, of course, a prospect. The $5 billion project would create an additional 50,000 jobs in Brooklyn. The borough is not only home to a diversity of people, but it’s also a place where city dwellers and tourists come to get peace from the busy city and offers an abundance of recreational areas. One of the most sought-out places is Prospect Park, the flagship park of Brooklyn, where people can enjoy anything from baseball to birdwatching, and skating to nature programs, amongst much more. You also have Brooklyn Bridge Park where One Hotel Brooklyn Bridge recently opened. Many people are already familiar with “Brownstone Brooklyn”—the more historical areas that are centuries old. However, we see a large trend in what we refer to it as “Suburban Brooklyn.” This is the southern part of Brooklyn which encompasses areas from Bay Ridge, along with the waterfront to Sheepshead Bay, Manhattan Beach, Bergen Beach, and Mill Basin, then inland to Madison, Marine Park, and Midwood. These neighborhoods offer more traditional housing with private driveways, slightly larger lots of lands, beautiful tree-lined blocks and yes, little or no alternate side of the street parking. These neighborhoods are maybe an additional 10-to-15 minute commute from Manhattan and offer its menu of residential offerings. 40 | OUR CITY, YOUR LIFE | NOVEMBER 2017
Photo by Julienne Schaer