Prospect Heights vs Fort Greene and Clinton Hill
Started by stevenlee21
over 11 years ago
Posts: 88
Member since: Mar 2013
Discussion about
I am not sure if anyone noticed the price gap between Prospect Heights vs Fort Greene and Clinton Hill in Brooklyn. They are quite similar neighborhoods to me. When I was doing some research online today, I found out that the avg sqft price in prospect heights has been rising fast to 900$/sqft, while it is around 700$ for Fort Greene and Clinton Hill. Does anyone know what caused the price difference or is it just a statistical blip? Thanks,
I know these three areas very well. Review your notes and I'll bet you'll find you've mixed condos and co-ops. Clinton Hill has a lot of co-ops, Prospect Hts has mostly condos. The border of Ft Greene is to me the most fuzzy, but if you don't include areas I would rather call Downtown then you have co-ops there too. Also, check the condition of the properties--remember that appraisers use condition as one of their ways to assess as well. There has been a LOT of renovation in Prospect Heights and Ft Greene close to the park, less so away from park and in Clinton HIll. And no these things are never a "statistical blip," this market is too active and competitive for random variation, which is what I assume you mean by that term.
Thanks for your insight. @Flutistic
I re-do the search for condos only, and find out that Prospect Heights and Fort Greene are comparable. Clinton Hill came out a bit cheaper. This pattern makes more sense to me.
A condo on Dean Street (between underhill and washington) sold over 1000$/sqft. That's hard to imagine just a couples of years ago.