Flatbush Rezoning Challenges

The Evolving Real Estate Market of Flatbush, Brooklyn: New Developments, Zoning Changes, and the Manhattan Exodus

Flatbush, one of Brooklyn’s most historic neighborhoods, has long been known for its rich cultural diversity, vibrant streets, and classic architecture. Flatbush, once a separate village annexed by Brooklyn in 1851, has become one of the Top 10 neighborhoods to watch in 2024 by StreetEasy. Known for its busy shopping district, unlimited dining options, and electric energy, the neighborhood also features quaint, quiet streets lined with Victorian mansions and landmarks. From pre-war buildings, single and multi-family homes, to brand new state-of-the-art condos, Flatbush is becoming one of New York’s most exciting residential destinations.

Over the past decade, the neighborhood has experienced a significant transformation, driven by the rising demand for housing in New York City and the migration of Manhattan residents seeking more space and affordability. Flatbush, once an overlooked area in the Brooklyn real estate market, is now undergoing a remarkable renaissance and revitalization, fueled by new residential developments, zoning changes, and shifting demographics.

The Current Real Estate Landscape in Flatbush

Flatbush is situated in central Brooklyn, bordered by neighborhoods such as Prospect Lefferts Gardens, Ditmas Park, and East Flatbush. The neighborhood boasts a mix of pre-war apartment buildings, detached single-family homes, and newer high-rise developments, providing a variety of housing options for buyers and renters alike. Flatbush Avenue, the neighborhood’s main avenue, is lined with retail shops, restaurants, lounges, entertainment attractions and cultural landmarks. The area’s proximity to key attractions like Prospect Park, and the educational institution of Brooklyn College also adds to its appeal.

The median home prices in Flatbush have steadily increased over the past few years, reflecting the growing interest in the area. According to Elliman Report Q2 2024, median sale prices in Flatbush were $1,085,000 for condos, $515,000 for co-ops, $1,100,000 for one-to-three family homes, and $1,200,000 for new residential developments. However, even with rising prices, Flatbush remains more affordable than many parts of Manhattan or even northern Brooklyn neighborhoods like Williamsburg or Park Slope, making it an attractive option for homebuyers and investors alike.

New Residential Developments in Flatbush

One of the most notable trends in Flatbush's real estate market is the influx of new residential developments. As demand for housing in Brooklyn continues to rise, developers have seized the opportunity to build modern, luxury apartment buildings in Flatbush, adding to the neighborhood's appeal.

Many of these new developments are mixed-use buildings, combining residential units with retail and commercial spaces on the ground floor. This type of development is reshaping the streetscape of Flatbush, blending the old with the new. These modern buildings often offer amenities such as rooftop terraces, gyms, co-working spaces, and concierge services—features that were once rare in this part of Brooklyn. Additionally, they are attracting a younger, professional crowd, including many Manhattanites relocating to Brooklyn in search of more spacious and cost-effective housing options.

A number of new projects along Flatbush Avenue and nearby streets are transforming the area. Developers are working on high-rise buildings with hundreds of residential units, adding much-needed housing to the market. These developments often include affordable housing components, in line with New York City’s mandatory inclusionary housing policy, ensuring that a percentage of the units are set aside for lower-income residents. However, many Brooklyn residents, New York City Community Board members, and public officials feel that the current percentage of units set aside for affordable housing is not enough based on the growing demand for housing. Also, concerns have been expressed about residents being priced out of the neighborhood, due to rent prices being too high based on the average household income of residents.

Zoning Changes and Their Impact on Development

Zoning regulations play a crucial role in shaping the future of any neighborhood, and Flatbush is no exception. In recent years, there have been significant zoning changes in the area to accommodate new residential developments and meet the growing demand for housing. Certain areas of Flatbush have been rezoned to R6 zoning.  R6 zoning districts can range from row house neighborhoods to large-scale "tower in the park" developments. The Height Factor Regulations, introduced in 1961, produce small multi-family buildings on small zoning lots and, on larger lots, tall buildings that are set back from the street. The Optional Quality Housing Regulations produce high lot coverage buildings within height limits that often reflect the scale of older, pre-1961 apartment buildings in the neighborhood. R6 districts can typically range from a single-story building to a 13-story building. However, a taller building can be developed if the required amount of open space is provided.   

The rezoning of certain parts of Flatbush has allowed for the construction of taller buildings and higher-density developments. For example, areas that were once zoned for low-rise buildings have been rezoned to R6 to allow for mid-rise and high-rise apartment complexes. This shift is particularly evident along key commercial corridors like Flatbush Avenue and Church Avenue, where new developments are springing up.

These zoning changes have sparked debates within the Flatbush community, with some long-time residents expressing concerns about the neighborhood losing its character, limiting open space, blocking sunlight and creating additional traffic congestion. Zoning changes bring challenges, particularly in terms of infrastructure. As more people move to Flatbush, there will be increased pressure on public services, transportation, and schools. The city and developers need to collaborate on ensuring that the necessary infrastructure is in place to support the growing population while maintaining the unique qualities that make Flatbush a desirable place to live.

The Influx of Manhattan Residents to Brooklyn

One of the most significant trends impacting the Brooklyn real estate market, and Flatbush in particular, is the migration of Manhattan residents to Brooklyn. Over the past few years, rising rents and home prices in Manhattan, coupled with the growing desire for more space and a different lifestyle, have driven many people to look for alternatives in Brooklyn.

Flatbush has emerged as a prime destination for Manhattan transplants. The neighborhood offers more spacious living options—many apartments and homes come with outdoor spaces, such as balconies, yards, or rooftop access—at a fraction of the cost compared to Manhattan. Additionally, the neighborhood’s vibrant culture, proximity to Prospect Park, and excellent transportation options of trains, buses and ferries, make it a convenient choice for those who still need to commute to Manhattan for work.

The COVID-19 pandemic accelerated this trend. As remote work became the norm, many Manhattan residents sought larger apartments, homes outside of the city center, and homes with outdoor space. Brooklyn, and especially neighborhoods like Flatbush, became increasingly attractive due to the availability of more affordable housing, lower density, and a less hectic urban environment.

For many Manhattanites, Flatbush offers the best of both worlds: the energy and excitement of living in New York City, but with more space, greenery, and a neighborhood feel. This influx of new residents has had a noticeable impact on the local real estate market, driving up demand for both rental properties and homes for sale. As more Manhattan residents relocate to Flatbush, it’s likely that prices will continue to rise, although the neighborhood still offers more value compared to other parts of the city.

Challenges and Opportunities

While the growth and transformation of Flatbush bring numerous opportunities, they also present challenges. The influx of new residents and developments has led to concerns about gentrification and displacement. Long-time residents worry that rising home prices and rents will push out lower-income families and change the character of the neighborhood.

Developers and city planners must strike a balance between promoting growth and development and preserving the cultural and architectural heritage of Flatbush. Real affordable housing initiatives and community engagement will be critical to ensuring that Flatbush remains a diverse and inclusive neighborhood while accommodating the needs of new residents. The revitalization of Flatbush also presents opportunities for economic growth and investment. New developments are attracting businesses, restaurants, and cultural institutions, creating jobs and enhancing the quality of life for residents.

For buyers and renters, Flatbush offers a unique blend of historic charm, modern amenities, and relative affordability. As the neighborhood continues to grow and evolve, it will remain a desirable destination for both new residents and long-time Brooklynites looking to invest in a community with a rich cultural fabric and promising future. Flatbush has emerged as a key player in Brooklyn’s real estate landscape.

LaShawn Freeman, Douglas Elliman Real Estate Agent

Unlocking new memories, one door at a time.

M: 917.254.3313 / E: lashawn.freeman@elliman.com