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Any thoughts on Brighton beach as an investment?
don't do it
99.9% of the time, i'm with se10024
Can both of u elaborate? My feeling is that you can't make any more waterfront..
carol: Those buildings will always be a big draw for Russians. and Brighton is Russia-on-theBklyn waterfront.
There are better investments for the price. (they are over-priced and not well-built.)
oceana will have problems as some of the tax abatements are starting to run out and anyone with 1/2 a brain is selling. none of the people who bought there in past 10 yrs thought about the tax implications.
brighton towers (brighton 1st) has high maintenance and boards that are not too clean.
between the 2, you have "coops". these are less then 50% sold and are run by the sponsor. if you get a great deal, you can rent it immediately and make some money. being that they are all cash deals and the expense of reno is significant, they don't really make sense.
all of the other garbage that has been built in past 10 yrs from brighton beach avenue to neptune avenue is awful. someone wanted to put new window sills and found that insulation was garbage from the workers. another found that the wall was not of the condo, but of the building it's attached to...
take into account that from brighton 4th to 8th, between bba and neptune, you have the mexican gangs.
on the other side of neptune it's all arabic/pakistani.
where will you invest?
Looking @older deco coops on beach blocks. City is pumping a lot of money into the area.. New aquarium performance space on west 8th. Not considering oceana at all!
I wouldn't invest there. The older deco coops are drecko.
those are the coops that are less then 50% sold. most are closer to 25%. if you can afford the whole building and see that you can deregulate them, then you can make some money. there's a huge number of units under section 8. getting those out is impossible.
Even rich Russian who can afford the whole building aren't buying whole buildings.
I remember that was the thought back when they started tearing down Brighton Beach Baths to make way for that complex.
rich russians from russia buy in manhattan. expensive bb condos are for upper middle class russian speaking immigrants. i think immigrant neighborhoods have a short shelf life i general because the new generations move out. there are a few exceptions where the kids end up staying in the hood with working class reinforcement from the old country and bb seems to be one of those. probably because they sell cold coronas right on the beach there.
So lucillebluth...r u also hearing that manhattan hipsters r buying bb apts as summer homes?
i have heard nothing of the sort. but is that true? seems like a great idea
if you really want to invest, then go to Brighton Towers (i think that's the name) on Surf and W 5th. it used to be mitchell lama and has been condos for ages (90's). you will get the best of all worlds there. you are next to the beach, across the street from the aquarium, down the block from coney island and a few blocks from brighton. the taxes are very low. it's a condo so you can rent it immediately.
i would stay away from the units facing park (you never know when the band shell will be rockin') and the ones closest to the train.
And they have a pool there.
Manhattan hipsters can't afford to buy summer homes.
Not even apts.to use as summer homes. Not even in BB.
Manhattan hipsters are mostly visiting night-trippers from Brooklyn, where they can barely afford to rent apts. in Williamsburg never mind buy there.
Manhattan hipsters in BB. would get their asses kicked, just for the stupid outfits.
BB Russians wear some far out outfits but the hipster look would mark them as the ultimate outsiders.
You don't see Manhattan hipsters on the beach in BB. No Manhattan hipsters in BB.
If a hipster could buy a beach house it would be in the Rockaways
how many times can you say 'hipster' in one post?
Technically, hipsters don't surf.
JButton. That's my limit.
Hipsters are not surfer dudes.
They already bought up cute little beach houses in Rockaways. I was on the Brooklyn Pizza Tour (I know but my husband lives for good pizza) and there were some youngins on the bus. We got off in BB and they said "oh, so this is where is everyone is buying for their summer digs" true enough.
brighton towers, i will check it out. thanks ab
btw. no surfing allowed in BB.
there's no surf on BB or CI so no issues.
The Brooklyn Pizza Tour bus isn't a good place to get RE investment info.
Surfer dudes with money buy in Montauk. Without money they rent. You can make more $$$$ renting out a place there (not to surfer dudes) from May-Oct. than you could in Brighton Towers renting it out all year round.
Because this purchase will be an investment, right?
It's "Brightwater Towers" (East & West; there are two buildings).
P.S:. There actually is another 2 building co-op named Brighton Towers. it's.on Brighton 1st Road between Brighton Beach Avenue & the Boardwalk, & also has an outdoor pool. Unlike Brightwater Towers, it was never Mitchell Lama as a rental or co-op.
Want an investment that I don't have to drive to..not a driving person.ALSO.. i think that nyc waterfront will have to be worth something always and there is lots of money and careful planning going into the area (i know that for a fact, didn't learn it on the pizza bus) i ate my share of bologna-sand sandwiches on brighton beach as a kid to stake a claim.
walpurgis..are u talking bout brighton 40 and brighton 50, they are coop right? whats the condo ab is talking about?
OMG...How well I remember those bologna SANDwiches on the beach! I can still taste the grit!
Indeed, I was referring to 40 & 50 Brighton 1st Road, & they are open market rate co-ops (Actually looked at one back in 1986-it was nice, but faced north - eye level with the train tracks. But as I'm sure you're well aware, other units must have terrific ocean views.
AB is referring to BrightWATER Towers-twin, white brick late 50s-early 60s highrises that you just can't miss, as they sit on Surf Avenue, roughly between Ocean Parkway & the Aquarium. That small area is referred to as "West Brighton".
Hope this helped. Oh, & Hirsch's knishes weren't complete unless "seasoned" with sand as well!
Yes, it's BrightWater Towers.
Hirsch's on the corner of BB Ave.and where Coney Island Ave. starts? The Oceana movie theater was a block over, across from Brighton Baths. There was a great Jewish Deli next door to the theater. Was that Shatzkins or a name like that?
Not the deli -- the knish place. Tasty kasha knishes.
Nothing like a nice kaska knish for the kishkas.
I give up.
knishes are gone, that is so sad. anyone have the pleasure of getting the purple ink stamp that you could only see when passing under the boardwalk from cabana to beach? magic
The deli you're thinking of was none other than Mrs. Stahl'sKnishes.
Hirsch's was on the ground floor corner of a 6 story (postwar, I think) apartment building, on the boardwalk, right next to an exit ramp to the street.
Please note this is from that era in Brighton which saw the last of the old-time yentas, sporting those twin plastic -on the rspoons on their noses & equally ridiculous rubber bathing caps, with multicolored irridescent discs sewn on. Classic! Only Lady Gaga could pull thay off today.
Venturing further west into Coney Island, one of the main attractions for us was to ride the long defunct Tornado coaster-which offered a wonderful view of previously mentioned demographic-& their male counterparts-stark naked on the corrugated tin roofdeck of Stauch's Baths.
In short, our screams & nausea weren't just from the ride alone...
"twin plastic spoons on their noses"
Sorry for the gobbleygook.
Yep, they stamped your hand.
Mrs. Stahl's. Yum. I remember, I'm a middle-age native New Yorker. Rocco's was the only pizza on BB Ave. and it wasn't that good. In between were the little shops. No nightclubs. I liked the bathing caps with the rubber flowers sewn on.
wal: Did you ever read Heller's autobio about growing up in Coney Island area?
truth I'm sorry for your loss.
if you buy at Brightwater Towers make sure you get a parking spot. without it the apartment will be worth significantly less. there are plenty of people who will be more then happy to pay $150-200 per month to use it.
Truth: No, but I'll have to. Got great reviews!
If you haven't read "Good As Gold" you might also want to check that book out.
Levon. Thanks lucille. I've been dealing with the press on it.
I came here for a break.
Don't tell anybody I was here, o.k.?
So are you saying..you can't go home?
Who me? I'm not in trouble or anything I just took a break.
I thought lucille was talking about kasha knishes.
Truth, she's talking about Levon.
yes..it's terrible to lose a good friend, in many ways worse than losing a family member because we choose our friends and generally like them.
You don't like your family?
they're ok. there are people i like more than them though and whose passing would genuinely devastate me. with family it's just sad, like generic sad.
Sounds like someone needs a hug.
ok, come one over
Tunnel looks backed up now.
oh can you see the tunnel from your house? neat
Yes, good view
lucille and huntersburg bonding over Levon's passing.
What did I start here? I just wanted to get a bit of sun and I was scared about my Roth. Truth - sorry about your friend, I saw him @ Shea when I was like 16. Don't hate on Lucille, but Lucille - be careful, huntersburg could be someone scary..even a republican (oh no she didn't )
huntersburg and lucille do that, it has nothing to do with us.
Glad to hear you're a Levon fan.
thanks for the tip. he is very nice irl.