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Looming Train Shutdowns Will Lead House Hunters to Ft. Greene, Report Says

By Alexandra Leon | December 28, 2016 2:13pm
 Fort Greene was named the city's second
Fort Greene was named the city's second "hottest" neighborhood to live in 2017 due to its abundance of transportation options.
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DNAinfo/Janet Upadhye

FORT GREENE — Survivalists looking to escape the looming L train shutdown will likely be seeking refuge in Fort Greene next year, according to a new real estate report.

The neighborhood, which has an abundance of transportation options, was named the city’s second “hottest” for 2017 in StreetEasy's housing market predictions for the new year.  

The report stated that transportation options — or lack thereof — will be the biggest driver in real estate trends next year. 

The upcoming L train shutdown and M train repairs will shift interest from trendy neighborhoods like Williamsburg and Bushwick to those with more convenient train access like Fort Greene.  

“In a bustling city like New York where everyone depends on public transportation, time is money,” StreetEasy economist Krishna Rao said in the report. 

“Though some buyers and renters may seize the opportunity to negotiate in formerly hot areas like Williamsburg, others will be willing to pay a premium for a quicker commute and to avoid any pause in transit service.” 

Fort Greene commuters have several transportation options.

The Atlantic Terminal offers access to the 2, 3, 4, 5, N, Q, B, D, N and R trains, as well as the Long Island Railroad. Straphangers are just two stops from Manhattan leaving from the Atlantic Terminal and one stop from Manhattan leaving from the DeKalb Avenue station. 

The C and G trains also have stops in the neighborhood, and the G train can take commuters straight to Queens without looping through Manhattan first.

“It’s smack dab in the middle of everything — you can get to Manhattan with relative ease,” said John Antrim-Cashin, a broker with TripleMint. “You can go north and south in Brooklyn and get to Queens with ease.”

Next year will also be big for Fort Greene due to the rise in luxury developments in the neighborhood, Antrim-Cashin explained. New high-rises like 66 Rockwell, The Ashland, 300 Ashland and DKLB BKLN are adding more than 1,000 new units to the area, he said

The new apartments are located in the center of Brooklyn’s arts district, which is home to the Brooklyn Academy of Music, the Barclays Center and a host of restaurants and bars. 

But those looking for a quieter lifestyle can still find it in Fort Greene.

“It’s just a wonderful spot kind of in the nexus of a whole host of vibrant neighborhoods in Brooklyn,” Antrim-Cashin said. “You have everything you could possibly want, but you can turn a corner from those main thoroughfares and find very quiet tree-lined streets with brownstones and townhouses.”

Rental prices in Fort Greene average about $2,400 for studios, $2,900 for one-bedrooms and $3,650 for two-bedrooms, the broker added.