Downtown Brooklyn has undergone an incredible transformation since it was rezoned in 2004 to allow for denser residential and commercial development. Although commercial development has not really materialized, the rezoning achieved one of its goals, with thousands of residential units built over the last decade and thousands more under construction or in the development pipeline. New up-market condo developments abound with some developers asking for prices greater than new developments in prime Manhattan neighborhoods.
Brooklyn Borough Hall, the federal, state and local courthouses, the office buildings of Metrotech, Brooklyn Law School and two universities anchor the northwestern portion of the neighborhood, which shares a border with Brooklyn Heights. The Brooklyn Academy of Music (BAM) cultural district, Atlantic Center and the Barclays Center anchor the southeastern portion bordered by Boerum Hill and Fort Greene. Bisecting the neighborhood from the Manhattan Bridge is Flatbush Avenue, on which you can find many of the neighborhoods newest developments, including the skyscrapers of City Point, and where you will find the future supertall buildings built by prominent developers Alloy and JDS, which will remake the Brooklyn Skyline. Given the current new development high inventory landscape and planned future development, now is a good time to negotiate discounts off of asking prices.