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100 Lexington Ave conundrum in Clinton Hill/Bed Stuy

We've noticed a few resales at the 100 Lexington Avenue condominiums on Lexington Avenue between Classon and Franklin. Please let us know if this is considered Clinton Hill or Bed-Stuy.

Aguayo & Huebener has a 1,300 square foot loft asking a cool $699K, while Fillmore Real Estate has two units, one a 1,396 square foot unit asking $685K (id 604013) and another 1,300 square foot unit asking $699K (id 604014).

These units are located 3.5 blocks from the Classon St. stop on the G and a longer 7.5 block trek to the Franklin Ave stop on the C and Shuttle or a 8 block walk to the C stop at Clinton-Washington.

It looks like these units sold for the mid $400K's in 2004, so that's a 50% appreciation in less than two years, in this location. What gives?? Sure, these are just asking prices, but there must be some precedent if the brokers are pricing it this way. These are priced at about $500 psf.


At February 05, 2006 10:31 AM, Anonymous Anonymous said...

looks like clinton hill as the address is on the western side of bedford ave., which is the boundary between the two neighborhoods

At February 05, 2006 10:34 AM, Anonymous Anonymous said...

they're probably using the Kent on dekalb as comps even though two years ago that was 400 per foot when originally priced. (people are first moving in now) now they could sell for 500-550 per foot in resale with not much problem.

At February 06, 2006 10:21 AM, Blogger Lesterhead said...

I've always been told that Classon is the dividing line, so I'd say Bed-Stuy. One of those grey areas.

At February 06, 2006 10:30 AM, Blogger ChrisG said...

classon is the dividing line, it seems to me the reason the selling prices are so much higher now is because the realtors realzied they could just artificalliy extend the boundaries of 'safe' clinton hill well into bed-stuy and jack up the prices at will.

At November 16, 2008 6:14 PM, Anonymous Anonymous said...

I lived in this building in 1994, as a renter. The neighborhood has not changed since then and the big push for gentrification didn't even close. I had to take the G train every night after midnight and can tell you that it is quite colorful, you are offered drugs and sex for a price within a block of the station and almost right up to the front door. The space is great but the location is not.


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