Clinton Hill less pricey residential alternative to Fort Greene

October 10, 2011 11:49AM

As asking prices for homes have crept up in neighboring Fort Greene, newcomers are looking to Clinton Hill, with its rows of brownstones, as a close alternative, the Wall Street Journal reported.

Clinton Avenue’s mansions, which at one time led it to be dubbed the “Gold Coast,” are now largely condominium conversions. They, along with the brick townhomes and brownstones, are big draws to prospective homeowners, the Journal said.

“There is a shortage of good houses, so houses tend to go quickly,” said Jill Seligson Braver, a senior vice president at Brown Harris Stevens.

The median asking price for a Clinton Hill home is $462 a square foot, according to data from Streeteasy.com, compared to $581 per square foot in Fort Greene.

It’s not just mansions that are flying off the shelves, either. New development Clinton Hill condo units are selling fast, too — about 90 percent of apartments at the Lineage, a 48-unit condo complex situated in six townhome-style buildings near the Clinton Hill and Bedford-Stuyvesant border, are in contract after sales launching in March.
[WSJ]