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December 19, 2005

Prospect Heights: Coming Into Its Own

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On Saturday morning, on our way to do yoga in Prospect Heights, we found ourselves thinking about how much potential the neighborhood has. This occurred to us again when we were in Williamsburg later in the day doing some Christmas shopping. Living in Clinton Hill, despite the unrivaled architecture, we do sometimes miss the mix of urban gritiness, energy and restaurants that Williamsburg has. Prospect Heights, by comparison, mixes the historic brownstone thing with a more industrial feel and building stock that make it ripe for the expansion of funky, interesting businesses as well as residential developments. And, as yesterday's NY Times article points out, the proximity to Brooklyn's foremost cultural institutions doesn't hurt either. Even if the overall market doesn't keep rising, we bet the arbitrage between Park Slope and Prospect Heights will continue to boost the area's prices regardless of how Ratner's plans for the Atlantic Yards shake out.
A Neighborhood Comes Into Its Own [NY TImes]




Posted by Brownstoner at 8:56 AM | Comments (29)
Categories: Neighborhoods

Comments

I enjoyed this article. As a Prospect Heights resident, I'm happy to see my neighborhood get some exposure in the Times. I look forward to watching Vanderbilt Avenue continue its changes. A few more bars have opened up in the past year - hopefully, more restaurants are in the making, too.

Posted by: Anonymous at December 19, 2005 11:30 AM

I thought Prospect Heights already arrived and went with home prices in the stratosphere already?
Jeez

Posted by: Anonymous at December 19, 2005 11:42 AM

The schools in Prospect Heights suck. PH can never catch up to Park Slope because of the inferior schools. A more realistic benchmark is Fort Greene; similar houses and similar school situation. PH is currently selling at about a 20% discount to FG. If there is any arbitrage, it will be between FG and PH.

Posted by: iac at December 19, 2005 12:15 PM

Fort Greene has all those beautiful public housing developments with all those lovely people congregating on Mrytle Avenue.

Posted by: Anonymous at December 19, 2005 1:23 PM

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Posted by: Anonymous at December 19, 2005 2:38 PM

I considered a lot of nuances among FG/PH/CH when I bought a few months ago. Since I am new to Brooklyn, I'm sure some were real and some imagined. But to me, PH seemed a little more staid, a little less interesting than FG or CH. PH seemed more residential, family-oriented with fewer businesses. Maybe it's the Pratt influence, but FG and CH are a bit more funky - perhaps even political - kind of the way Park Slope was before the boom. I wound up buying in FG and love the energy.

Posted by: Lisa at December 19, 2005 2:39 PM

two words: Amy Watkins.

Prospect Heights was poised to be the next big thing in 1999, along with Park Slope. Then Amy Watkins was killed and it has not recovered.

Posted by: Anonymous at December 19, 2005 2:58 PM

The above re: not having recovered since Amy Watkins is ridiculous. I purchased in 1999, and the changes since then are incredible (even setting aside huge inflation in the real estate market). It is particularly notable if you compare the changes in services (stores, restaurants, etc.) in PH with those in a neighborhood like PLG, where house prices have also risen signficantly over the same period (perhaps more) with very little improvement in services, etc.

Posted by: Anon at December 19, 2005 3:15 PM

is there a decent grocery store yet in PH?

Posted by: Anonymous at December 19, 2005 3:22 PM

The school poster hit the nail right on the head. So many PH families send their kids to ps 261. It's a shame folks can't organize and make the schools in their own nabe better. If Boerum Hill can do it...

Posted by: Anonymous at December 19, 2005 3:50 PM

The Amy Watkins comment is gratuitous. As to theschools, yes it's a significant problem. While charter school was created in the neighborhood after a huge effort by local parents, I've heard it hasn't been a success and has even excluded some of the families who fought to make it happen. I don't know the full story but I'm sure someone who reads this site does and can fill us in. In terms of shopping, I would argue PH is far better served than FG/CH. There are two quite good supermarkets (Met Food on Vanderbilt -- which has improved beyond recognition from when I first lived in the area 20 years ago -- and Key Food on Flatbush); an excellent 24-hour grocery and fish store called Natural Land, also on Flatbush; a new and good gourmet store called Delicacies on Vanderbilt; as well as easy access to stores in PS like Blue Apron. PH doesn't have the architectural distinction of FG/CH but the subway access is great and, as someone in the article said, being equidistant from BAM and the park and the museum ain't bad. I've moved back in '99 and I love it here.

Posted by: Anon at December 19, 2005 4:22 PM

PH has lagged CH, FT, PLG, Ditmas, Windsor Terrace, Red Hook, etc... at least price-wise. I wonder why?

Posted by: Anonymous at December 19, 2005 4:46 PM

4:46pm: How do you reckon that? I've seen good brownstones sell for $1.85m in PH which is surely way above PLG, Ditmas, WT, or Red Hook. Not sure if the $2m barrier has been breached. Does anyone out there know?

Posted by: Anonymous at December 19, 2005 5:08 PM

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Posted by: Anonymous at December 19, 2005 5:52 PM

Hmmm... Schools. I didn't realize how great the schools in Williamsburg and DUMBO oh yeah Clinton Hill has great schools too. Gimme a break! Wait...supermarkets, is there 1 in DUMBO, Williamsburg has no supermarkets.

Posted by: Anonymous at December 19, 2005 6:17 PM

Dumbo is zoned for Brooklyn Heights schools. Actually, they have pretty good these days.

Posted by: Anonymous at December 19, 2005 6:48 PM

Compare apples to apples. Most brownstones in PLG are single family homes as opposed to the multi-family ones in Prospect Heights. Having 1-2 rentals makes a big difference in price.

Posted by: Nativegal at December 19, 2005 7:31 PM

My wife and I just moved to Prospect Heights, bought a 1 bedroom on Eastern Pkwy. I think PH is undervalued relative to CH and FG, particularly in the coop/condo market. We have the same amenities, better subway access (2&3 is practically in the lobby on my building, as opposed to say living on Wash and Myrtle??) and the museum, park etc. About as funky as CH and FG IMO and with as many good restaurants if not as many total. Schools, well look at CG, BH or even Park Slope 5-7 years ago, lots of bad schools. Its a shame more newcomers don't send their kids to PS 9 but maybe with improvements and time they will, this is a larger problem nearly all of the neighborhoods are dealing with now. I wouldn't poo poo schools as a long term property value issue but give time for folks to work to improve schools as was done in PS, BH and some Manhattan nabes in the last decade.


Posted by: Mazman at December 19, 2005 8:16 PM

FYI - the $2 million barrier has been reached in Prospect Heights - on Prospect Place between Carlton and Vanderbilt (which is one block from Park Slope and one of the premier blocks in Prospect Heights).

It would be ideal if our public schools were better - but let's be real here. Anyone buying a brownstone for more than $1.7mm is probably going to be agnostic to the quality of the public schools because in all liklihood they will be sending their kids to private school.

Finally - if folks want to diss PH because of the poor public schools - would they also say the same thing about the North Slope? The nicer parts of PH are right next to the North Slope - and the North Slope doesn't have good public school options either.

Posted by: JM at December 19, 2005 9:54 PM

People like to put down other people neighborhoods because in some childish way it makes them feel better about where they live.

Posted by: Anonymous at December 19, 2005 10:53 PM

In the year 2000............

Park Slope = 68% White 8% Black 27% Hispanic

Prospect Heights= 18% White 69% Black 11% Hispanic

Ft. Greene=48% White 32% Black 25% Hispanic

Park Slope has one of the worst public high schools in NYC
Ft. Greene has one of the best public high schools in NYC

Posted by: Anonymous at December 19, 2005 10:59 PM

Prospect Heights Rocks!! Oh the juicy things that are in store for the nabe. I can't wait!

Posted by: BREUKELEN at December 19, 2005 11:32 PM


In the year 2000............

Park Slope = 68% White 8% Black 27% Hispanic

Prospect Heights= 18% White 69% Black 11% Hispanic

Ft. Greene=48% White 32% Black 25% Hispanic

Park Slope has one of the worst public high schools in NYC
Ft. Greene has one of the best public high schools in NYC

Posted by: Anonymous at December 19, 2005 10:59 PM

If you're talking about Bklyn Tech, it's not a neighborhood school, it's one of the 3 specialized math & science high schools. Again let's compare apples to apples.

Posted by: Nativegal at December 20, 2005 2:27 AM

did anyone notice the picture of the washington condos in the audio slide show on the nyt website? butta!

Posted by: ltjbukem at December 20, 2005 9:04 AM

Park Slope does not have a public high school. John Jay was turned into 3 middle schools.

Posted by: Anonymous at December 20, 2005 11:31 AM

What is the point of pointing out the racial mixture of the areas when discussing schools.

Posted by: Anonymous at December 20, 2005 11:33 AM

having been thru this I can tell you high school is not the problem. you test for the top schools and you can go to any high school you want... at any age. sometimes it does take some legwork, but PS parents are good at that.

what makes high school different is that high school kids can take the subway to school alone so there are lots of choices. also, and I guess this goes without saying, many people go private for high school.

Posted by: Anonymous at December 20, 2005 12:11 PM

Prospect Heights and the adjoining neighborhoods that aren't already gentrified (which I would argue PH basically is) need all the help they can get in staying the way they are. Please don't move here, let alone buy. There are low-income people who are getting priced out, and they don't deserve it.

Move to Manhattan.

Posted by: anon at December 22, 2005 8:12 PM

Mike 18 cute young boy pic http://www.mike-18.int.tf/

Posted by: Mike 18 little young boy at June 8, 2006 9:31 AM

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