Brooklyn's Bubble Isn't Bursting

New Yorkers who worry about all the talk of a housing bubble need look no further than Prospect Lefferts Gardens - where apartment hunters are calling developer John Hanczor about buying condos on a site where he hasn't even started demolition.
"There's a big demand," said Hanczor of Talia Enterprises, who plans a seven-story, 27-unit condo building at 386 Lefferts Ave. He's custom-designing the apartments to appeal to Hasidic families who can't find places to live in Crown Heights - the nabe just north of Prospect Lefferts Gardens.
The condos will be large, including some five-bedroom duplexes. They'll have kosher kitchens with two sinks - and terraces where residents can build sukkah huts for the fall festival of Succoth.
The condos at 386 Lefferts are expected to sell for $400 to $450 per square foot. The pricing's modest compared with rates of $625 to $800 per square foot in Park Slope, which is just across Prospect Park.