_Riding high in Downtown Brooklyn: Explore prime development ‘The Brooklyn Tower’ at 9 DeKalb Avenue

The Brooklyn Tower, 9 DeKalb Avenue

Prices starting at: $875,000

With its black stainless steel, bronze and glass exterior presented in striking hexagonal form, 9 DeKalb Avenue in Downtown Brooklyn has become an eye-catching addition to the New York City skyline. At the end of October, the 93-storey residential development (dubbed ‘The Brooklyn Tower’) reached its final height of c.1,066 feet tall, making it the most high-reaching building in the borough and only supertall development.

Luxury is certainly at the heart of this mixed-use development, with its breathtaking condominiums starting at 535 feet above ground and enjoying jaw-dropping immersive water and skyline views and over 100,000 sq ft of amenities.

These best-in-class residences and impressive surroundings are part of a truly inclusive development, with residences for lease up to the 52nd floor and residences for sale from the 53rd floor up, ensuring that the building and its residents mirror Brooklyn’s vibrant community.

What’s been happening in the Brooklyn property market?

2021 saw Brooklyn’s high-end real estate sector go from strength to strength, with a remarkably strong second half. “Price trends continued their streak of setting records as sales surged’’ says Jonathan Miller of Miller Samuel.

Rising prices in the market and increased levels of sales volume has helped to bring new inventory onto the market. After five quarters of year-on-year declines in supply, listing inventory expanded for the second straight quarter (in the three months to end-June) as sellers became motivated to enter the market. This willingness by sellers has been amplified by widespread vaccine adoption and falling Covid-19 case rates in New York.

That said, the desire by a growing numbers of homeowners to list their properties hasn’t made the Brooklyn market any less competitive. In the second quarter, the market share of sales sold above their asking price – which indicates a bidding war – was 17 per cent. That’s the highest since 2019.

Trendy Brooklyn remains an increasingly compelling option for international property buyers, especially given the borough’s lower premiums than neighbouring Manhattan.