The Neighborhood's Appeal
The rich history of Clinton Hill is complemented by its modern amenities. Residents enjoy easy access to Fort Greene Park and the vibrant Myrtle and Fulton Avenue corridors, where dining and shopping options abound. The neighborhood also boasts a strong sense of community, making it an attractive choice for families and professionals.
Beyond its cultural and recreational appeal, Clinton Hill offers excellent connectivity to Manhattan and other parts of Brooklyn, making it an ideal location for commuters. The Clinton-Washington Avenues subway station, serving the G and C trains, ensures seamless transit for residents. This connectivity enhances the neighborhood’s desirability, particularly for professionals working in New York City’s business hubs.
Architectural Design: A Fusion of History and Modernity
Preservation and Renovation
Initially constructed in 1905, 388 Washington Avenue underwent a comprehensive renovation in 2023. The design team, led by SA-DA Architecture, carefully balanced preserving the building’s Neo-Grec style while incorporating modern features.
The property’s façade retains its historic charm, while the interiors have been updated to meet the needs of today’s luxury buyers. This combination ensures the building appeals to those who value history and contemporary design.
Unique Architectural Elements
The Neo-Grec style is characterized by its bold, geometric features, evident in the building’s façade and intricate detailing. Inside, high ceilings and large windows create an open, airy atmosphere. The renovation has introduced modern materials and finishes, including hardwood floors, recessed lighting, and energy-efficient windows while preserving original elements such as moldings and fireplaces.
These design choices not only enhance the property's aesthetic appeal but also improve its functionality and energy efficiency. The seamless integration of historic and modern elements makes 388 Washington Avenue stand out in Clinton Hill.
Luxury Condo Features: Exclusive Living Redefined
388 Washington Avenue is a unique property with only two residential units, emphasizing exclusivity and privacy. The building caters to a niche market of luxury buyers looking for spacious layouts and high-end features.
Unit Layouts
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Unit 1: A three-bedroom, three-and-a-half-bathroom residence with a modern layout designed for comfort and functionality.
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Unit 2: A larger four-bedroom, three-bathroom unit that offers additional space and features.
Each unit is thoughtfully designed, featuring open floor plans, large windows for natural light, and state-of-the-art appliances. The kitchens have premium appliances, custom cabinetry, and quartz countertops, making them functional and visually appealing. Bathrooms feature spa-like amenities, including rainfall showers and soaking tubs, ensuring a luxurious experience for residents.
Outdoor Spaces
Both units at 388 Washington Avenue come with access to private outdoor spaces. These areas provide a peaceful retreat from the city’s hustle and bustle, allowing residents to enjoy gardening, dining, or simply relaxing outdoors. The outdoor spaces are designed to complement the interiors, creating a seamless flow between indoor and outdoor living.
Modern Amenities: Comfort Meets Convenience
Features and Benefits
The property’s amenities include a private garden, ample storage space, and an intercom system for added convenience. Each unit has high-quality HVAC systems and modern kitchens, ensuring residents can access the latest in-home technology.
Additional features include advanced security systems and smart home capabilities, allowing residents to control lighting, temperature, and security from their smartphones. These modern conveniences enhance the overall living experience, making 388 Washington Avenue a standout property in the Clinton Hill luxury market.
Comparison to Similar Properties
Compared to other luxury condominiums in Clinton Hill, 388 Washington Avenue offers a unique combination of historic charm and modern amenities. While other properties may provide similar features, the exclusivity and privacy of this two-unit building set it apart. This balance of history and innovation appeals to discerning buyers seeking a truly one-of-a-kind home.
Real Estate Market Analysis: Sales and Value
Performance and Trends
Since its renovation, 388 Washington Avenue has positioned itself as a high-value property in the Brooklyn real estate market. The building’s sales history includes:
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Unit 1: Listed for $3.69 million.
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Unit 2: Sold for $4.39 million, exceeding its initial asking price.
Despite its premium pricing, the property’s sales velocity has been slower than expected, with an absorption rate of 32.1 months. This indicates a niche but stable demand for ultra-luxury condominiums in this market.
Market Comparison
Compared to other luxury properties in Clinton Hill and nearby neighborhoods, 388 Washington Avenue stands out due to its unique design and limited inventory. While properties in areas like Williamsburg or DUMBO may offer comparable amenities, they often lack the historic character and exclusivity found here. This distinction justifies the property’s higher price point and contributes to its appeal among buyers.
Investment Potential: Why It’s a Smart Buy
Long-Term Value
The desirable location, historical significance, and modern features make 388 Washington Avenue a valuable investment. Properties in Clinton Hill have shown consistent appreciation over the years, and this building’s exclusivity further enhances its market appeal.
Limited Supply
With only two units available, the property offers a level of scarcity that drives demand among high-net-worth buyers. This limited supply ensures its value remains stable, even in fluctuating markets. Furthermore, the building’s location within the Clinton Hill Historic District adds a layer of prestige, making it a highly sought-after property.
Appeal to Investors
The property offers investors an opportunity to capitalize on Brooklyn’s growing luxury market. Its historic charm and modern convenience appeal to domestic and international buyers, ensuring a diverse pool of potential tenants or future buyers.
Condo Living: Privacy and Exclusivity
Small-Scale Community
Living in a two-unit building offers unparalleled privacy and exclusivity. Unlike more significant developments, 388 Washington Avenue provides residents with a quiet, intimate environment. This setting is ideal for those who value discretion and community.
Advantages Over Larger Condos
Smaller buildings like this often have lower shared maintenance costs and fewer residents to coordinate with, making them more appealing to buyers seeking a hassle-free living experience. Additionally, the personalized attention to detail in smaller properties often results in higher-quality finishes and amenities, further enhancing their appeal.
Neighborhood Lifestyle: Living in Clinton Hill
Proximity to Amenities
Residents of 388 Washington Avenue benefit from Clinton Hill’s convenient location. The neighborhood has numerous parks, cultural attractions, and dining and shopping options. Fort Greene Park, one of Brooklyn’s most beloved green spaces, is just a short walk away.
Community and Culture
Clinton Hill is known for its strong sense of community. The area hosts events and activities that unite neighbors, fostering a welcoming and vibrant atmosphere. This sense of belonging adds to the neighborhood’s appeal.
Educational Opportunities
Clinton Hill is home to several renowned educational institutions, including Pratt Institute, which contribute to the area’s creative and intellectual vibrancy. Families with children also benefit from access to highly-rated public and private schools, making the neighborhood an attractive choice for families.
Historic Renovation: Preserving the Past
Importance of Preservation
Historic renovations play a crucial role in maintaining the character of neighborhoods like Clinton Hill. By preserving its Neo-Grec style, 388 Washington Avenue contributes to the area’s architectural heritage.
Boosting Property Value
Renovated historic properties often command higher prices due to their unique appeal. This blend of old and new is key to the property’s market success. The thoughtful renovation ensures that the building’s historic charm is preserved while meeting the needs of modern buyers.
Challenges and Opportunities: Navigating the Luxury Market
Addressing Challenges
The slow sales velocity highlights the challenges of targeting a niche luxury market. However, the property’s unique features and exclusivity ensure it remains competitive.
Opportunities for Growth
The Brooklyn luxury market continues to grow, offering opportunities for high-end properties like 388 Washington Avenue to attract discerning buyers. The building’s strong foundation in design and amenities positions it well for future success.
Summary and Conclusion
388 Washington Avenue Sponsor Condo is a remarkable property combining historic charm and modern luxury. Its prime location in Clinton Hill, Brooklyn, makes it an ideal choice for buyers seeking exclusivity, privacy, and convenience.
With its unique blend of history, design, and amenities, 388 Washington Avenue is a premier option in the Brooklyn real estate market. It offers lasting value in a competitive landscape, whether as a home or an investment. This property exemplifies what Clinton Hill offers best, making it an exceptional choice for discerning buyers.
FAQs
What is the history of 388 Washington Avenue?
Built in 1879, 388 Washington Avenue is a Neo-Grec style brownstone designed by architect Amzi Hill. It stands as a testament to the rich architectural heritage of Clinton Hill, Brooklyn.
How many units are in the building?
The building comprises two exclusive residential units, offering privacy and luxury to its residents.
What amenities are available in the condos?
Each unit features modern amenities, including high-quality HVAC systems, contemporary kitchens, private outdoor spaces, and advanced security systems, ensuring a comfortable living experience.
Is 388 Washington Avenue close to public transportation?
Yes, the property is conveniently located near the Clinton-Washington Avenues subway station, providing easy access to the G and C train lines for seamless connectivity throughout New York City.
What is the current status of the units?
As of the latest available information, one unit has been sold, and the other is listed for sale. For the most current availability and pricing, it's advisable to consult real estate listings or contact the sales agent directly.
