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Clinton Hill Logs More Than 35 Percent of Brooklyn's Condo Sales

By Janet Upadhye | October 20, 2014 2:25pm
 Clinton Hill represented 35 percent of all new development sales in the borough last quarter.
Clinton Hill represented 35 percent of all new development sales in the borough last quarter.
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Voda Bauer Real Estate

CLINTON HILL — More than a third of all condo sales in new developments in Brooklyn took place in the neighborhood last quarter, according to a MNS Real Estate report.

A total of 18 units were sold in Clinton Hill from July 1 to Sept. 30 representing 35 percent of all new development sales in Brooklyn.

Several new developments have recently hit the market including The Carlton at 82 Irving Pl., with 28 units, 32 units at 112 Emerson Pl., and Putnam Court at 80 Irving Pl. with 59 units.

But it was sales at the newly-launched 91 Grand Ave., coupled with low inventory overall in Brooklyn, that made Clinton Hill stand out so drastically, according to MNS.

The elevator building, near Park Avenue, boasts warehouse loft condos with prices ranging from $800,000 for a 1,065-square-foot two bedroom to $485,000 for a 734-square-foot studio. It was not clear how many apartments were sold there.

Andrew Barrocas, CEO of MNS, said that Clinton Hill is seeing an upswing in sales in part because of its proximity to the Navy Yard, the Tech Triangle, Fort Greene and Downtown Brooklyn.

"Buying in Clinton Hill is a good investment play," he said. "There is great opportunity in that neighborhood — you will see this area become very developed from a condo standpoint as well as rentals."