It may not necessarily have anything to do with the Hasidic Jewish community but that the majority of the housing in Crown Heights is predominately single family homes and apartment buildings.

The turnover is so low because children often will take over their parents property while they care for their elderly relatives.

(at least that what I’ve seen over time in Crown Heights)

And as the recession continues to worsen, more adult children continue to move home for what might become a permanent return.

As for the Museum, if you ask anyone that resides near a museum they’ll tell you that it reduces he quality of life for the community unless their is public green space or recreational/parking area that benefits the general public.

As a cultural institution, the Jewish Children’s Museum offers a rich experience into the lives of Jewish children.

But I don’t think, given the limitations the museum has in offering what the Brooklyn Museum of Art can, it may only increase congestion to the community’s inconvenience.

Is this due to the stable crowd of Hasidic Jews, or is this due to the changing demographics from Eastern Parkway to Lefforts and Albany to Utica? (I think the library to Utica?)

Also, has the Museum on Kingston changed anything since it’s creation as far as property values go in the whole area?

Thanks Michael!

The short answer to your question is Use will determine Value.

Since there are more residential properties than there are mixed use commercial properties in Crown Heights South, use value tends to lean in favor of pure residential properties.

However, Mixed Use Properties get their value predominately from their location.

Crown Heights South only has 3 commercial drags where mixed use property has appreciable value: Utica Avenue, Kingston Avenue and Nostrand Avenue.

If you’re trying to identify the best location to invest in Mixed Use Property, I strongly suggest the Nostrand Avenue drag from Eastern Parkway to Sterling Street in Prospect Lefferts Garden.

There is more development along that strip, as well as new homeowners who’ve purchased in the last 6 years eager for more varied retail options for a greater quality of life.

Also, with access to the 2/3/4/5 train service at President St, Eastern Parkway and Sterling Street, Nostrand Avenue has more upside than the others mentioned.

And here’s the best part about that strip: BANKS. Banco Popular is at Eastern Parkway, Chase and Carver are at Empire Boulevard.

BROKER TIP: Identify locations for sale at or 2 blocks away from the subway stations mentioned.

The foot traffic experienced in the AM and PM from commuters is attractive to a broad range of retail proprietors (from cell phones, nails salons, takeout restaurants, etc…)

Leasing to a strong retail proprietor will give your property it’s real value, with the above residential units increasing it’s rate of return.

Good Luck and Keep Reading NostrandPark.com…It’s the real source for everything happening in Brooklyn’s most dynamic neighborhood.

My interest is Crown Heights South market, which has become increasingly Jewish, and, specifically mixed-use properties.

Is there any evidence that mixed-use properties, say, 2 apts. over ground floor commercial, have any more or less value than 1 – 4 family homes in the area?

Thank you