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A studio as investment in Prospect Heights?

Started by maxwellimus
over 14 years ago
Posts: 6
Member since: Oct 2011
Discussion about
Hi, I'm a first time home purchaser and I'm wondering if purchasing a new studio in prospect heights near prospect pl and Vanderbilt would be a good investment? I know many families live in PH but I'm not sure if singles would really root themselves there. I'm liking the location for it's multiple accessible express trains into manhattan and it's proximity to restaurants, and bars. As well as the location near prospect park, atlantic yards, clinton hill, etc. I'm looking to rent out the property in a few years when my mortgage is similar to that of the rental price. Any insights?
Response by mh330
over 14 years ago
Posts: 105
Member since: Oct 2006

I think a studio is always hard to convince yourself to buy, but if your concern is whether singles are attracted to PH, i don't think its a problem. Places like Weather Up and the Vanderbilt are not built for families -- they're built to attract young-ish singles.

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Response by NYCMatt
over 14 years ago
Posts: 7523
Member since: May 2009

I'm voting "no".

Prospect Heights is a bit too far into Brooklyn for "young-ish singles" who are most likely Manhattan-oriented.

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Response by crescent22
over 14 years ago
Posts: 953
Member since: Apr 2008

If the mortgage is higher than the rental price now, doesn't that answer the question itself?

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Response by maxwellimus
over 14 years ago
Posts: 6
Member since: Oct 2011

cresent22, what do you mean? Im counting on the rental market to rise.

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