South Brooklyn Has Lost Its Real Estate Mind

Over the last three years, everyone bought everything in South Brooklyn. Now, the dregs are being dumped onto the market, for surprising—some would say shocking!—prices. Obviously the big palatial townhouses of Cobble Hill, Boerum Hill and Carroll Gardens still get listed at $2 and $3+ million. (Also, haha, here is an awful one-bedroom for $760K.) 71 3rd Street, which is two tiny, tiny stories and a basement, recently sold for $1.2 million. 339 Hoyt Street, which was harrowing, if largely untouched—the stairs were made of plywood, held together by little brackets—sold for $1.47 million a few months ago. And now it gets worse.

