While I am primarily focusing my apartment search on other parts of Williamsburg, I went to open houses yesterday at 30 Bayard Street and 50 Bayard Street. There are definitely pros and cons of both buildings, but I would love to hear from people who actually live in either one. In particular, I am interested in their opinions on: 1) The location -- Do you feel close enough the restaurants,... [more]
While I am primarily focusing my apartment search on other parts of Williamsburg, I went to open houses yesterday at 30 Bayard Street and 50 Bayard Street. There are definitely pros and cons of both buildings, but I would love to hear from people who actually live in either one. In particular, I am interested in their opinions on:
1) The location -- Do you feel close enough the restaurants, subways, dry cleaners, etc., or do you feel like it's a trek whenever you have to go somewhere? How are the noise and lights from McCarren Park, especially on nights and weekends?
2) The fit and finish -- Do the apartments seem solid? How are the details (doors, windows, hardware, floor, plumbing, etc.) holding up after a year or two?
3) The service -- Is the management company responsive to inquiries or requests? Any problems with the staff?
Any and all opinions are appreciated, especially from people with first-hand experience. Thanks.
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Response by tenemental
almost 17 years ago
Posts: 1282
Member since: Sep 2007
I don't have any of the direct experience you're asking for, but if you go forward, this may help with negotiations. The Times ran a Hunt column in May about a couple buying at 30 Bayard. What the article didn't mention was that the couple bought for 13% less than the seller paid 2 years earlier for the same unit (not to mention the original transfer taxes, etc.). It's the most recent sale in the building.
05/31/2007 Previous Sale recorded for $1,150,000.
10/27/2008 Listed in StreetEasy by Prudential Elliman at $1,280,000.
12/02/2008 Price decreased by 7% to $1,195,000.
02/11/2009 Price decreased by 6% to $1,125,000.
03/07/2009 Listing entered contract.
05/04/2009 Listing sold.
05/04/2009 Sale recorded for $999,000.
05/15/2009 Listing sold.
Thanks, tenemental. That's an interesting article. I'm not sure I believe them that the walk to the Bedford subway stop is only 5-6 minutes, but who am I to doubt!
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Response by beseder
almost 17 years ago
Posts: 38
Member since: Mar 2009
CLBbkny: youre the buyer. doubt everyone named "broker" and "seller". theyre hoping you dont. you'll end up happier if you do.
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Response by bjw2103
almost 17 years ago
Posts: 6236
Member since: Jul 2007
CLBbkny,
If you had asked me a year ago, I'd have told you the location isn't ideal. Now, I'm not so sure. There are certainly enough decent restaurants within walking distance, and the walk to either Bedford or Lorimer for the train isn't bad at all. It may feel a bit further than anything around North 6th/Bedford, but personally I don't see a tremendous difference anymore. The lights from McCarren do stay on quite late, and I've heard some residents find them to be quite bright, but I don't think the noise is much of an issue. Yeah, there's a lot of people in the park on warm summer days, but if that's the case, I'm guessing you'll want to be out too.
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Response by petrfitz
almost 17 years ago
Posts: 2533
Member since: Mar 2008
Buying in Williamsburg is about the worst decision you could possibly make. No matter where in w burg you buy you won't be able to resell for your purchase price for atleast a decade
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Response by bjw2103
almost 17 years ago
Posts: 6236
Member since: Jul 2007
Thanks petrfitz, insightful as always. Let us know when you've "doubled your money" on Pitt St.
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Response by petrfitz
almost 17 years ago
Posts: 2533
Member since: Mar 2008
Bjw the 18 units I own on that street were just bank appraised at 2.5 times my purchase price. I have also drawn positive cash flow from these units. So I actually doubled my money on these properties about 4 years ago - 2 years after I bought them
how's your epicenter of the housing crisis investment?
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Response by bjw2103
almost 17 years ago
Posts: 6236
Member since: Jul 2007
That's great petr, I just don't get your crusade against Williamsburg. The neighborhood is doing fine, despite what you think or what gawker is telling you.
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Response by cfranch
almost 17 years ago
Posts: 270
Member since: Feb 2009
bjw: that article in New York mag is fairly unbiased. These are brokers and developers all pointing fingers at the banks and Bloomberg administration. When these guys aren't all saying "buy, buy, buy" and are starting to panic means we are going to get a meaningful low sometime soon. We are not there yet and it's just guess work as to where we land. The only basement number bandied about in the article was $500/sq ft. That would bring out plenty of buyers. I think the developers of 44 Berry are spot on in their marketing. Actually putting out product people want to live in at affordable prices. What a concept!
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Response by bjw2103
almost 17 years ago
Posts: 6236
Member since: Jul 2007
cfranch, I agree, didn't mean to dismiss the article entirely (and indeed, I think it ends on a rather positive note actually). I haven't looked at 44 Berry yet (been meaning to!) but totally agree that projects like it (72 Berry, for example) are poised to take advantage of the situation. In many ways, weeding out the immediate greed that seemed to count on Williamsburg becoming a top-shelf liquor-drinking yuppie haven, is a good thing. It will help maintain and continue to foster much of what drew me to the neighborhood in the first place.
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Response by CLBbkny
almost 17 years ago
Posts: 39
Member since: May 2009
Thanks, bjw, for your feedback on those buildings. I too get a sense that life around that end of McCarren Park is more lively now than a year ago, but I am just a visitor to the area since I live in a different part of Brooklyn now, so it's hard for me to say for sure.
It feels to me like there is some decent value for the money in those buildings, but I am worried about feeling like I am in Siberia.
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Response by bjw2103
almost 17 years ago
Posts: 6236
Member since: Jul 2007
CLBbkny, the best way to determine that is to really spend time there - in the end, only you can determine what you're happy with. That said, I assume you're looking at other parts of the neighborhood. I don't think the prices are really much lower on Bayard than they are on other good blocks, are they? There is the draw of getting a resale in a new building that's been running for over a year, but Bayard's not the only street where that's the case. The park views are pretty nice though (and permanent).
I don't have any of the direct experience you're asking for, but if you go forward, this may help with negotiations. The Times ran a Hunt column in May about a couple buying at 30 Bayard. What the article didn't mention was that the couple bought for 13% less than the seller paid 2 years earlier for the same unit (not to mention the original transfer taxes, etc.). It's the most recent sale in the building.
http://www.nytimes.com/2009/05/31/realestate/31hunt.html?_r=1
StreetEasy History
05/31/2007 Previous Sale recorded for $1,150,000.
10/27/2008 Listed in StreetEasy by Prudential Elliman at $1,280,000.
12/02/2008 Price decreased by 7% to $1,195,000.
02/11/2009 Price decreased by 6% to $1,125,000.
03/07/2009 Listing entered contract.
05/04/2009 Listing sold.
05/04/2009 Sale recorded for $999,000.
05/15/2009 Listing sold.
http://www.streeteasy.com/nyc/sale/360275-condo-30-bayard-street-williamsburg-brooklyn
Thanks, tenemental. That's an interesting article. I'm not sure I believe them that the walk to the Bedford subway stop is only 5-6 minutes, but who am I to doubt!
CLBbkny: youre the buyer. doubt everyone named "broker" and "seller". theyre hoping you dont. you'll end up happier if you do.
CLBbkny,
If you had asked me a year ago, I'd have told you the location isn't ideal. Now, I'm not so sure. There are certainly enough decent restaurants within walking distance, and the walk to either Bedford or Lorimer for the train isn't bad at all. It may feel a bit further than anything around North 6th/Bedford, but personally I don't see a tremendous difference anymore. The lights from McCarren do stay on quite late, and I've heard some residents find them to be quite bright, but I don't think the noise is much of an issue. Yeah, there's a lot of people in the park on warm summer days, but if that's the case, I'm guessing you'll want to be out too.
Buying in Williamsburg is about the worst decision you could possibly make. No matter where in w burg you buy you won't be able to resell for your purchase price for atleast a decade
Thanks petrfitz, insightful as always. Let us know when you've "doubled your money" on Pitt St.
Bjw the 18 units I own on that street were just bank appraised at 2.5 times my purchase price. I have also drawn positive cash flow from these units. So I actually doubled my money on these properties about 4 years ago - 2 years after I bought them
how's your epicenter of the housing crisis investment?
That's great petr, I just don't get your crusade against Williamsburg. The neighborhood is doing fine, despite what you think or what gawker is telling you.
bjw: that article in New York mag is fairly unbiased. These are brokers and developers all pointing fingers at the banks and Bloomberg administration. When these guys aren't all saying "buy, buy, buy" and are starting to panic means we are going to get a meaningful low sometime soon. We are not there yet and it's just guess work as to where we land. The only basement number bandied about in the article was $500/sq ft. That would bring out plenty of buyers. I think the developers of 44 Berry are spot on in their marketing. Actually putting out product people want to live in at affordable prices. What a concept!
cfranch, I agree, didn't mean to dismiss the article entirely (and indeed, I think it ends on a rather positive note actually). I haven't looked at 44 Berry yet (been meaning to!) but totally agree that projects like it (72 Berry, for example) are poised to take advantage of the situation. In many ways, weeding out the immediate greed that seemed to count on Williamsburg becoming a top-shelf liquor-drinking yuppie haven, is a good thing. It will help maintain and continue to foster much of what drew me to the neighborhood in the first place.
Thanks, bjw, for your feedback on those buildings. I too get a sense that life around that end of McCarren Park is more lively now than a year ago, but I am just a visitor to the area since I live in a different part of Brooklyn now, so it's hard for me to say for sure.
It feels to me like there is some decent value for the money in those buildings, but I am worried about feeling like I am in Siberia.
CLBbkny, the best way to determine that is to really spend time there - in the end, only you can determine what you're happy with. That said, I assume you're looking at other parts of the neighborhood. I don't think the prices are really much lower on Bayard than they are on other good blocks, are they? There is the draw of getting a resale in a new building that's been running for over a year, but Bayard's not the only street where that's the case. The park views are pretty nice though (and permanent).