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Where would you buy now?
Townhouse in Harlem Gold Coast or Hamilton Heights. It's the next Park Slope.
If the goal was appreciation (at least not losing as much)... Upper East Side.
Positively dreadful right now with the construction, but has a decent chance of returning to one of the most desired neighborhoods in the city. The benefit to hitting rock bottom....
SWE, don't you mean Yorkville and below the garbage transfer station?
> SWE, don't you mean Yorkville and below the garbage transfer station?
Yes, Yorkville, but I think even Carnegie Hill and other parts east are part of the trend. The UES will be "rediscovered" at some point. It always goes in cycles.
In terms of the transfer station, IMHO meaningless. I was there in the last week. SO blown out of proportion by the whiny NIMBY. The road is already there (and you can't walk across it now anyway). The traffic is already there. You already have to wait for the light to cross the street. There is already a big complex on the water. 250 trucks going down that road a day, when thousands and thousands of cars are ENTERING THE HIGHWAY right there. Sorry, but these people are just whiny idiots.
Not too many choices for up-and-coming neighborhoods in NYC!
what you think of Bed-stuy/Bushwich/Greenpoint?
To live? To buy or rent? Investment?
Neighboring Williamsburg is seeing signs of distress: http://streeteasy.com/nyc/talk/discussion/33807-williamsburg
Eg someone in an established condo there was blind sighted because a fellow owner who had been paying condo charges wasn't paying the mortgage : "Look at the rent/buy ratio. FYI, our building just had its first foreclosure action started against an owner who is not behind in common charges. Hasn't been paying the mortgage for years. So, while I own, at a very good rent/buy perspective, I think there's risk involved." so the purchase had to be justified based on a rent / buy ratio that is skewed by relative high rents because of the new young lifestyle there.
Logic is not your strong suit.
Aboutready is your place closer to Bushwick, Bed-Stuy orGreenpoint?
Best sections of Bed-Stuy.
how about east new york? will it become the next harlem?
Palmer Park. http://online.wsj.com/article/SB10001424127887324461604578191983681691560.html
Oops - Palmer Woods. http://online.wsj.com/article/SB10001424127887324461604578191983681691560.html
Dan Gilbert is working on revitalizing downtown Detroit. Also, as things improve with the auto industry pretty significantly, maybe Detroit has some early upside. Possibly even aboutready will discover it in another 8-10 years after notable improvement and then buy there at that point.
Nope, I'll be ready for better weather by then.
Yorkville, am very sure :
1) second avenue subway is coming in 2016 (target date has not been pushed for a long time! http://www.nydailynews.com/new-york/ave-subway-track-open-2016-mta-article-1.1251331 ),
2) 2014-whole foods on 87 and third http://newyork.grubstreet.com/2012/10/whole-foods-harlem-upper-east-side-opening.html
3)new construction in harlem going on like crazy...all will make Yorkville be the Next thing..
>Nope, I'll be ready for better weather by then.
Are you going to move back to Tacoma?
No, troll, I am not.
I know nobody believes me, but midtown east has potential.
Why not, thief?
Right AR you always said you like midtown east But you would have wanted the kind of apartment that was coop, which would never have allowed a purchase with only 10% down.
And the condos, even the crappy ones, weren't really "good deals"
Actually, I would hate living there. I just think there's room for appreciation..
AR, what is the catalyst? It's certainly a cheap neighborhood in Manhattan in general, undesirable to most demographics except perhaps older people looking for more affordable options. So I get that there is room for upside, but where do you think the upside will come from?
No projects, brand new schools, convenient location, foreigners like it, like they like all of midtown. But mostly the first two. Lots of new school seats.
And, of course, whole foods. Can't forget whole foods and the 2nd ave. subway.
Also, it has an older demographic, as you point out. But the elderly will not necessarily be replaced with more elderly. A lot of families would take peaceful with good schools and decent, although not fantastic, retail/dining.
Actually, AR, you often posted in the past that Midtown East was one of your favorite neighborhoods, and that you really liked the look of it, especially the more eastern blocks (and no, I'm not going to search for all those comments)
The Eastern Block was my favorite too.
I think forest hills gardens is lovely too. I'm not moving there. Clearly neighborhood aesthetics are not high on my list of priorities.
>Clearly neighborhood aesthetics are not high on my list of priorities.