PARK SLOPE — With Brooklyn's real estate boom showing no signs of slowing, Douglas Elliman is expanding its presence in one of the borough's most sought-after neighborhoods.
The real estate giant is moving into a new office at 187 Seventh Ave., The Real Deal first reported.
The new space is three times the size of Elliman's existing Park Slope office at 154 Seventh Ave. Elliman expects to open the new office in late summer of 2016, said Molly Townsend, sales manager at Elliman's Park Slope office.
Elliman's Park Slope branch completed 295 transactions that generated $225 million in sales in 2014, Townsend told DNAinfo New York.
As buyers and renters priced out of Park Slope hunt for housing in nearby neighborhoods such as the South Slope, Prospect Lefferts Gardens, Prospect Heights and Sunset Park, demand for Elliman's services continues to grow, Townsend said.
"Park Slope is a great central location for Brownstone Brooklyn and South Brooklyn," Townsend said. "As Elliman is expanding into more and more markets south of Prospect Park, it makes sense to grow the number of agents in Park Slope and give more space and support to the talent we currently have."
Brooklyn home prices have hit record highs this year, with an average sales price of $856,839 — an 18 percent increase over the past year, according to Elliman. Homes in the Park Slope/Gowanus area spend the shortest time on the market, a mere 35 days, down nearly 30 percent from 2014.
The new Elliman office, on Seventh Avenue and Second Street, will be right across the street from popular P.S. 321, which is in a zone that consists of some of the neighborhood's most expensive real estate.
The new space is on a rapidly changing block. The Elliman office will be on the ground floor of a building that's being renovated into luxury condos, and the neighborhood's first Chipotle and Blue Bottle Coffee are slated to open a few doors down.
