Monday, August 20, 2012

Quintessential Clinton Hill: 303 Vanderbilt Avenue

303 Vanderbilt Avenue is a renovated Single Family home on a cute brownstone block between Fort Greene and Clinton Hill.  Whether you call this location "Fort Greene lean" or "Clinton Hill chill", this straightforward listing with a sensible $1.599M price tag shows exactly what's going on in these streets right now.  It's nestled right between a Clinton Hill fixer-upper winner like 101 Gates Avenue and a blast-from-the-past straggler like 308 Clermont Avenue.  Corcoran landed $1.43M this Spring for 101 Gates, but that place could use a modest amount of work.  308 Clermont is a generically-renovated 3-Family with a fading-but-nice brownstone exterior that was a steal at its relisted price this Spring of $1.39M, and has wasted lots of people's time drifting up towards a new ask price of $1.8M.  Spare yourself the hassle when 303 Vanderbilt is priced just right.

You've gotta like what you see at 303 Vanderbilt.  Did somebody say "5 marble mantles" and "pocket doors & crown moldings"??  Then you get the modern upgrades in the kitchen to boot? 

Even at 18' x 45', you'd buy one floor this nice for $550K all day, so three floors for less than 3 times that ain't hard to justify one bit.  Besides, if you wanna talk comps, you're only a few blocks from a deeper fixer-upper 4-Family at 289 Clinton Avenue that fetched $1.58M this Spring (after a revival of the listing), and a $1.9M+ sale at 338 Clinton Avenue in need of "gut rehab" that wants to flip for $2.6M now.  This is Clinton Hill's answer to 416 Park Place in Prospect Heights.

Even die-hard Manhattanites (some of who rent in Queens) fall in love with Brooklyn when they walk these streets around Clinton Hill.  As long as the Brooklyn Flea is a destination, that's just another cherry on top of the unmistakable vibe people love this area for.  Remind us what $1.6M gets you in the Slope again these days...??

Don't even get us started on the potential over here with sales such as 377 Grand Avenue...

Pro's:  spot-on listing, nice block, renovated with original details, no 308 Clermont games

Con's:  $628/sqft was Park Slope pricing last year,  won't last, no rental income

Ideally:  check it out and make a move if you're ready


  1. we're told this home had a bidding war and went above asking price...