While other young kids were dreaming of becoming superheroes when they grew up, Joe Baglio, Managing Partner of Madison Estates, was thinking real estate, even if he wasn’t quite sure at the time what that meant. “I was drawn to the business at a very young age and intrigued by the process,” he says. “The thought of owning property was always attractive to me as well.”
A Brooklyn boy at heart, Baglio has seen the borough he’s called home since birth go through changes and believes it’s come a long way since he was a kid growing up. It’s a place where home values continue to rise, and the bottom line is, buyers are attracted to what Brooklyn has to offer.
We spent some time chatting with Baglio to learn more about what he believes makes the Brooklyn real estate market so attractive….
How do you spot an area that is on the rise before it truly explodes on the market?
Real estate is like a living, breathing organism; it has a pulse and you can just feel it. There are certain subtleties that you have to look for. I am a big fan of people watching, which will usually give an area away. And it’s a combination of the properties, architecture, and people that will indicate if an area is exploding or about to.
As the real estate market continues to prosper and we get closer to the New Year, what areas would you say in your opinion are currently in demand?
Right now I am very bullish on Prospect Lefferets Gardens; it’s an area I’ve spent a lot of time in and have witnessed its change right before my eyes. It has amazing architecture with many limestone and brownstone blocks as well as new, larger scale rental buildings that are fully amenitised which are attracting a younger, artistic demographic.
The original roots of the area are still strong which makes it even cooler. There are lots of restaurants on Franklin, Bedford, and Washington Avenue, plus you can walk to Prospect Park and the Brooklyn Museum.
As homebuyers, sometimes finding the perfect place takes longer than we hope. As a seasoned broker, what advice do you have for those potential buyers who walk through Madison’s door?
To always be honest and transparent with your broker. You’re trusting them to help in finding one of the greatest investments of your life. A good broker should know what your wish list vs your needs list is.
What types of changes do you see happening in 2018 for Brooklyn?
I believe Brooklyn has far to go with many areas on the South Shore that still have not been tapped, or should I say discovered. Growing up I remember the backlash I would get when I would tell someone I was from Brooklyn; at that time it wasn’t very chic to say that’s where you were from; it’s still sounds crazy to me when I think about that.
For newcomers, what would you recommend are the “must see and do” things?
You must tour the “Gold Coast”; start in Greenpoint and follow the coast all the way to Coney Island. The diversity, architecture, cultures, and sites will blow your mind!
When you’re not on the hunt for the next great property/location, what do you enjoy doing?
I truly enjoy spending time with my family. I am blessed with a beautiful wife and two beautiful children. My kids allow me to tune out the world and shut down my engines. I get to unwind and jump onto their level which is not all that difficult for me considering I’m a child at heart!
Your greatest passions?
My family and my work.