COBBLE HILL — The appeal of living in Cobble Hill is not in its prices — it's all about charm.
Though years ago the quaint Brooklyn neighborhood may have drawn people looking for cheaper deals and a short commute to Manhattan, that is no longer the case, according to a real estate analysis company.
In August, the neighborhood saw an average listing price of $1,008 per square foot, according to data from NeighborhoodX. On the upper end of that scale, a unit at 174 Pacific St. was listed at $1,215 per square foot, a price that's comparable to Lower Manhattan rates, said Constantine Valhouli, the company's founder.
"You're not getting a bargain so you're really choosing aesthetic and lifestyle," he said. "It's no longer a question of economic necessity. It's a question of choice."
For comparison, the most expensive property in Inwood last month — one of Manhattan's most affordable neighborhoods — was priced at $619 per square foot. That's lower than the least expensive property in Cobble Hill, according to Neighborhood X's data.
And it's not just residential prices that are soaring.
Court Street, the main commercial corridor that runs through the neighborhood, has seen some of the borough's highest retail rents.
The average asking rent on Court Street, between Atlantic Avenue and Carroll Street, rose 8 percent from $162 to $175 per square foot, according to a report from the Real Estate Board of New York earlier this year.
Residential rents have also increased across all apartment sizes, according to a real estate report from this past May. A spike in the average rents for two-bedroom units could be indicative of more families moving into the neighborhood.
Cobble Hill, which shares a school district with Carroll Gardens and Park Slope, has no shortage of nearby kid-centric amenities, including a New York Kids Club that's slated to open next year, Jacadi, a French fashion boutique for babies, and LePort Schools, a California-based Montessori academy that's coming soon.
