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Doug Bowen on the Brooklyn Boom

The New York Times // Jul 12, 2013

This past Sunday, The New York Times ran a piece on “the pedestrian-friendly Brooklyn neighborhood of Clinton Hill,” known for its “ethnic and architectural diversity.”  The highly-publicized inventory shortage in New York City has left many buyers turning to quaint neighborhoods like Clinton Hill, which in turn has resulted in an increase in both buyers’ interest and sales prices for homes in the borough at record levels.

CORE agent and Brooklyn expert Doug Bowen was featured in the article when he spoke about the up-and-coming neighborhood.  “Tight inventory is elevating prices. Townhouse sales have ranged from $900,000 to $3 million in the last year, with the large majority from $1.9 million to $2.5 million.”

A Clinton Hill resident himself, Doug is intimately in tune with both the neighborhood and market. “It’s a kind of gentle mix of people,” said Doug. “And there’s a lot of pride in the residents, both homeownership pride and neighborhood pride. Even renters show up to the neighborhood association meetings.”

Following the article’s publication, Doug has received a lot of interest from those seeking Clinton Hill properties, who are anxious to learn more about his in-depth knowledge of the growing neighborhood. Below, Doug reveals his thoughts on the article, great listings in the area, his local favorites and advice for perspective buyers:

On working with journalist, John Freeman Gill: “John was terrific. He was very passionate in trying to get to the core of what makes Clinton Hill tick today. The article captures the strong participation from the community’s constituents from The Pratt Institute, to MARP, the homeowners, renters, and merchants. This participation is what makes communities like Clinton Hill strong for the long term, and is also an area where the neighborhood has shined historically.”

On great Clinton Hill listings: “Right now, my listing (also featured in The New York Times feature) at 105 Cambridge Place is the hottest listing in the area. The response has been unbelievable.”

On his local Clinton Hill favorites:

• Wine shop: “Gnarley Vines is one of the best wine shops in Brooklyn. The owner, Brian Robinson, has done an incredible job using community outreach to Clinton Hill and Fort Greene as business, and as a result, he has created an extremely loyal following.”

• Restaurant: “Putnam’s Pub and Cooker on the corner of Clinton has become a neighborhood cornerstone. This was one of the bigger leases ever on Myrtle Avenue, and it has already established itself as an institution, by housing community events and embracing the entire diversity of residents in the area. Lulu & Po and Chez Lola are a few other restaurants that are among the many food options now populating the booming commercial avenue on Myrtle.”

• Coffee shop: “Pillow Café is a great place for coffee and brunch with a great and consistent following.”

• Gourmet market: “Look for Peck’s Specialties Foods to continue the trend of bringing the amenities that the community desires when it opens in the fall, with prepared food concepts that will include a full-time baker, artisanal cheeses, high-end prepared meals-to-go, charcuterie, growlers of craft beer and an array of Brooklyn-based prepared food items.”

On advice for Clinton Hill buyers: “Clinton Hill has historically been known for its diversity and that has never been more true than today. People crave a community vibe and Clinton Hill has that in spades. My advice? Get in before prices climbs further because there is no doubt about where prices are headed. There is a tipping point for neighborhoods that once were perceived as emerging – that point is in the rear-view mirror in Clinton Hill.”

Original Article: The New York Times