The Lowdown

Nervousness about Atlantic Yards has Fort Greene residents walking on egg shells. Will the project provide affordable housing and resources? Or will it just blot the sun out of the sky? The fact that new condos unrelated to Atlantic Yards are popping up all over the place has gotten relatively less press. All new developments are not created evil, so lets put our hard feelings about Atlantic Yards aside and give some of the other new projects a second look.

One new condo development is at 1 Hanson Place, right on the southwest corner of the neighborhood. Stribling lists a 1Br for $916K. If you don't like this one, there are about a million other apartments for sale in the same building. The high-rise has views of the city and is right on top of the Brooklyn Academy of Music, which hosts an indie movie theater and various other cultural amenities. 1 Hanson Place is also near the restaurants and stores of Park Slope, the shopping in Downtown Brooklyn, and the major transportation hub at Atlantic/Pacific.

Greenpoint is sandwiched between the condo booms of Williamsburg and Long Island City, so it was only a matter of time before this former industrial area got its own infestation. The area is not completely industrial; brick apartments and townhouses are now sharing space with luxury condos. Between teardowns and renovations, the neighborhood is transforming quickly, with or without the help of those pesky 10 alarm fires knocking out old warehouses.

Speaking of former industrial zones, we hope we're not the only ones who were a little confused by this Toll Brothers listing for a $508K 1Br, 1Ba 518sqft, one story "condo/townhome." When we looked up a satellite map to pinpoint its location, all we could find was a warehouse parking lot near the water. Maybe the satellite image is old... or maybe the Boxcar Children are thinking of upgrading their digs? Oh wait, it says in the listing that this apartment is part of the Northside Piers community, a gleaming tower of glass. Where did that hunk of high-rise come from?

You know your neighborhood is changing when you can no longer tell the difference between vandalized cars and public art projects. Williamsburg, starving artist loft haven, or den of luxury condo thieves? The area originally transitioned from industrial warehouses to a refuge for artists priced out of Soho and other upscale Manhattan areas. The problem (or solution) is that now that the area has been made safe for baby strollers and Prada handbags, the artist population has had to move on to greener pastures (a.k.a. dilapidated warehouses in Queens and outer Brooklyn).

At the same time, Williamsburg has not gone completely upscale. Those looking for "artsy-hip" Williamsburg need to watch those addresses - not all that goes by the Williamsburg name is located next to fair trade coffee shops and pretentious clothing stores. Few realtors are as honest as this Ardor listing for a $615K two family townhouse; "Best Bushwick Block" the ad proclaims, also saying that it is located in Bushwick/East Williamsburg. So which is it? Many listings for homes like this one just say Williamsburg.

Downtown Brooklyn is taking a big stretch upwards. It has even acquired its own silly-hip nickname, DoBro. However, in spite of all the hype about booming office construction, there are plenty of places to sleep that don't involve resting your head on a fax machine. Luxury condos are especially in vogue, though the residential stock also includes everything from a surprising amount of co-op listings to townhouses that may have been part of the historic Underground Railroad.

There is something for everyone in Downtown Brooklyn. At least, for everyone who is on the market for a condo or co-op. The residential townhouses (some of which contain condo conversions) of Brooklyn Heights, Boerum Hill, Fort Greene, and Vinegar Hill have Downtown Brooklyn hemmed in on all sides. On the waterfront, D.U.M.B.O. tends toward ultra high-end loft-living. Finding a place in Downtown Brooklyn that fits your budget is all about flexibility. Where are you willing to live? How much space do you need?

Clinton Hill has a reputation for being a beautifully historic neighborhood, but many of the current listings are actually for luxury condos. Clinton Hill grows in popularity as buyers realize that crime rates are close to those of the Upper East Side, with burglaries less than half as common as they are in the upscale Manhattan neighborhood. The century-old brownstones and townhouses are being rediscovered and re-imagined to meet housing demand. Though some of the brand new condos are recently built, and others are conversions of the grand historic buildings that characterize the area.

$400K seems to be the magic number for brand new apartments and condo-versions of older buildings. At 555 Washington Ave, just outside the borders of Crown Heights and Prospect Heights, Aguayo & Huebner are listing a new 1Br 600sqft condo for $425K. Apparently this apartment is experiencing some cultural confusion, what with the "SoHo Parisian sophistication" and "California closets". French immigrants who grew up in San Diego will feel right at home here. We're assuming that "SoHo Parisian" is a euphemism for "not tacky" and that "California" means "big".

Carroll Gardens has a similar real estate market to nearby grandly historic Brooklyn Heights. Entire brownstones come up for sale infrequently, but co-ops inside them (or other century-old apartment buildings) are readily available. The main difference between Carroll Gardens and the neighboring Cobble Hill historic district is that more development has snuck in, leading to a minor condo boom and a slight diversification of the housing stock.

Corcoran lists a set of new 3Br condos in the heart of Carroll Gardens at 116 3rd Place for $1.2M. This building must be classy since we had to look up most of the terms in the description. It turns out that "Duravit Starck wall mounted bowls" are toilets, not fancy sculptures. Just don't get them confused with the "Neptune Zen soaking tub". Mockery aside, these condos sound high-tech and well-made.

The homes in Brooklyn Heights have the grand chandeliers and ornately framed paintings one would expect in a townhouse off Central Park in Manhattan. The real estate market there mimics the historic, deep-rooted nature of the community. Townhouses are often passed within a family, so homes do not come up for sale frequently. For the same reasons, those that do appear on the market are often well-cared for.

Most of the available real estate is co-op apartments in century old buildings. The Brooklyn Heights co-op community is tight-knit and long-standing. All of the buildings are near the beautiful promenade, if not actually on it, so even those without views of the city from their windows can easily appreciate the skyline.

Heath Ledger and Michelle Williams may have moved out, but it wasn't Boerum Hill's fault. Over the last couple of years, Smith Street and Atlantic Avenue have gone high-end hip, complimenting historic brownstones with an infusion of youth and glamor. At the same time, this neighborhood is becoming inaccessible to all but the rich and famous since 1Br condos are now worth close to $1M. There are, of course, apartments for less, but most of the listings are for at least $600-700K. If you're a starving artist, your best bet is to get into the new affordable housing project/performance center opening up there in the spring.

Prospect Heights is known for long-standing cultural institutions and historic houses, but new developments are sneaking in on its borders. This is good news for people who can't afford the $1M plus price tag for the beautiful historic houses in the area. Condos are popping up on the less regulated northeastern edges, and older buildings throughout the area are undergoing condo-versions.

Some developers are trying to maintain the century-old aesthetic. For example, the red brick Firehouse735 condominiums at 735 Dean Street between Underhill and Vanderbilt Avenues. The Firehouse735 is what it sounds like, a converted fire station. The pleasant building has been changed so little by the renovation that there's a sign that says "condo" so that people won't get confused. The Firehouse735 condos are on the large side, but but also expensive; listed by Aguayo & Huebener at $719K for a 1454 sqft 1Br.

Flushing spans a large geographic area and offers a wide array of real estate options. The market is especially good for people looking for coops & condos, as well as single and multi-family homes of all shapes and sizes. Due to increasing foreign investment and wildly successful retail stores, downtown Flushing has become a booming mecca of real estate investment.

Apartments are relatively affordable, and many renovated or newly constructed ones are on the market. For example, a recently renovated 1Br co-op is an affordable $209K and within striking distance of the Main St/Flushing 7-train stop. For apartment dwellers who are dedicated car owners, there are often large parking garages built within new construction, so you don't have to go cruising around the block 20 times to find a spot.