Corco Cutting Prices East of Classon
It can be hard to spot a trend in the real estate market until after the fact, but we couldn’t help but notice when we were perusing Natefind yesterday that Corcoran had cut prices on six of its townhouse listings in Bed Stuy and Crown Heights within the past week. (The biggest cut, both in…
It can be hard to spot a trend in the real estate market until after the fact, but we couldn’t help but notice when we were perusing Natefind yesterday that Corcoran had cut prices on six of its townhouse listings in Bed Stuy and Crown Heights within the past week. (The biggest cut, both in absolute and percentage terms, was at 36 Monroe Street.) Is this a coincidence, do you think, or could there have been some word from on high that drove these cuts? Taken as a whole, do the cuts signify anything about the market in those neighborhoods or is this bad news balanced out by bidding wars at places like 100 Decatur?
56 Monroe Street [Corcoran] GMAP
36 Monroe Street [Corcoran] GMAP
470 MacDonough Street [Corcoran] GMAP
1300 Carroll Street [Corcoran] GMAP
1416 Sterling Place [Corcoran] GMAP
610 Eastern Parkway [Corcoran] GMAP
12:24 you are right. i live on the border of bed stuy/clinton hill and our neighbors are very positive about the improvements in services/cafes, etc. to the area. it is clearly on a major upswing as witnessed by the recent sales on our block (greene & bedford) i love the people who have negative opinions about a neighborhood that they have zero personal experience with. buying here was a hugely good decision. those of us who get it, know what i mean…hello!
No one disputes whether it was beautiful. It was and still is. As to who is pushed out in any area that gentrifies, it is always the renters who cannot afford the rents. Since it was a predominantly black area, FG and Clinton Hill’s renters are mainly black, and hence they are the ones displaced. Also, many of the brownstone owners were black and have done very well for themselves by selling. Also, FG and Clinton Hill has plenty of well to do black and multi-racial couples and families who have bought in the past 10 to 15 years. It’s great. I remember the first time I went to Underwood Park, I almost cried because it was nice to see such a diverse (and I don’t mean all black as the term is sometimes used here) crowd of different people with their kids. Truly a great place. What will be lost over time is the economic diversity, but what makes FG and Clinton Hill (and Bed Stuy in many places for that matter) different from other gentrified/gentrifying areas, is the large proportion of non-white and mix-race couples and families that are doing the “gentrifying”. That’s one of the reasons why I like it so much.
this is largely racial. most of the displaced from FG and CH are black. this is a fact. wanting it not to be so doesn’t change the fact that this is the truth. and the people who have displaced these black people talk about the old shabby CH. as i said, clinton hill was beautiful in the 1970s. the main drags like fulton and myrtle have continued to improve i will grant you that. but clinton ave, washington, st. james, adelphi, so. portland were all beautiful in the 70’s.
Clinton Hill is an old neighborhood that was originally called the “Hill” and later Clinton Hill from the early to mid 19th century. It’s not a new name or neighborhood. FG and Clinton Hill are very small neighborhoods. From an architectural point of view, Clinton Hill is more varied with many freestanding mansions still standing with their carriage houses, along with varied styles of rowhouses and a few later 19th, early 20th century apartment buildings. It was a tonier area than FG when built, initially for magnates in industry (e.g. the Pratts, Pfizer …), later for well to do professionals working in lower Manhattan. It did indeed become “shabby” as much of brownstone Brooklyn did when the services left in droves in the 1960s. Clinton Hill, Fort Greene and other areas are experiencing a rejeuvenation and are great places to live. I’ve said it once, and will again, that the negativity you hear on this board is not experienced in the neighborhood. People, old and new residents, are friendly and collegial. Enough of the negativity on this site, it wears you out.
Corcoran always overprices. It is a huge diservice to sellers. An F for failure is to get on this site as a stale property. Corcoran does it regularly.
Actually I said “shabby” not “bad” and yes it was seen that way.
It’s not a racial reference in any way. I’m referring to property values and local amenities. Just like how FG was seen as “shabby” in the 70s and 80s. BS was extremely “shabby” previously and still is in some areas, but that is changing quickly much as it did in CH with all the cafes, boutiques, etc. opening up in the past couple years.
Please don’t inject racial overtones where there are none. It’s a disservice to this forum and only reveals your own biases and assumptions.
only white people or people from outside of brooklyn thought of clinton hill as “the bad part of FG.” that statement is nuts. Clinton Hill was beautiful in the 1970s. Beautiful w/ a little heroine thrown in.
and the FG / CH distinction was not some big deal to people until recently. we just were happy to have wonderful majority black (with cool others) community of brownstones that was affordable. our restaurant was two steps down on dekalb and we VALUED it all.
correction 12:03: meant west of
The city in their records considers Classon the border. If you look at the recent sales data anything south of Classon is labeled as Clinton Hill