Updated On
05/15/08 at 04:15PM
Small firms could feel pinch in Brooklyn
Allen Barcelon of Boerum Hill Realty
By
Kate Pickert and Catherine Contiguglia
From the May issue: Not only is the era of windfall sellouts over for independent real estate firms in brownstone Brooklyn, but community storefronts may be in for tough times as the economy falters and outer borough properties take a hit. As prices in Brooklyn have leveled off, and in some cases dropped, the powerhouse firms that were once gobbling up their independent counterparts have slowed their acquisitions. Yet the competition they've created could make it harder for the remaining independent firms to compete going forward, especially as they have smaller budgets.
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