Key Takeaways
- Renovation budgets need a 10% to 15% contingency for surprises in older Brooklyn buildings.
- Permits and certificates of occupancy must match the finished layout before you sell.
- Price the resale from recent comparable sales, not from your total cost.
Mendy's Original Take
From the Mendy Realty archive, first published by Mendy Lipsker.
My last blog discussed “flipping” a property, a popular way to invest which allows you to create profit and cash flow in a reasonably short time. We talked about acquiring the property and financing in Part 1 of this series.
In Part 2, we are going to touch on two other aspects of “flipping,” renovation of the property and making a profit.
Sometimes a property can be sold as is and still make a profit. However, if the property is going to need work, you will want to know how much work it needs and what it will cost. Getting an estimate on the renovation work is an important part of the process. If the renovation required is going to substantially reduce your profit, you may want to bypass that property
2026 NYC Investment Snapshot
Investor demand stayed strong in 2026. New York City investment sales reached $23.69 billion through Q3, with multifamily and development sites leading the market.
NYC sales by asset class, Q1 to Q3 2026
Figures through Q3 2026 include projected closings.
Steps To A Profitable Flip
Lock the scope
Decide every finish and layout change before work starts.
Track costs weekly
Compare spending to budget every week to catch overruns early.
Price from comps
List at a price supported by recent nearby sales.
Common Questions
Is flipping still profitable in Brooklyn in 2026?
It can be. Prices are rising in most neighborhoods, but margins depend on buying right and controlling renovation costs.
How long does a Brooklyn flip take?
Most take several months to a year, depending on permits, scope, and contractor availability.
Related Reading
Talk To A Brooklyn Broker
Buying, selling, or investing in New York real estate? Start with a direct conversation.
718.751.0738Market figures compiled from public records and published market data. Information is believed reliable but not guaranteed and should be independently verified.
