Been contemplating between parts of Astoria near Kaufman Studios and Williamsburg near Mccarren park. Where will I get the most ROI in the next 5 to 7 years? Feel like Williamsburg is a bubble ready to burst anytime but right now it is definitely cool, hip, etc which has skyrocketed the prices there. But it is becoming so crowded, the majority being ONLY hipsters, lacks the multicultural balance... [more]
Been contemplating between parts of Astoria near Kaufman Studios and Williamsburg near Mccarren park. Where will I get the most ROI in the next 5 to 7 years?
Feel like Williamsburg is a bubble ready to burst anytime but right now it is definitely cool, hip, etc which has skyrocketed the prices there. But it is becoming so crowded, the majority being ONLY hipsters, lacks the multicultural balance (as it was more industrial formerly) and feels like even some of the hipsters are being priced outa there! Whereas, Astoria is more established, multiethnic, has more access to daily needs, more subway options, but not as hip (yet) but I hear hipsters are already moving into Astoria. Kaufman studios expanding could be a plus. Do you feel Astoria is changing? If you were to invest today, where do you think you'll get the most bang for the buck in the next 5 to 7 yrs? Is there more room to grow in overcrowded Williamsburg or is Astoria also the next most sensible area of gentrification and investment? Chime in!
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Response by Riversider
over 12 years ago
Posts: 13572
Member since: Apr 2009
You said it yourself...
Whereas, Astoria is more established,...., has more access to daily needs, more subway options.
Those are important contributions, more so than being chic. In my opinion because Williamsburg lacks those things, and considering how long if ever it takes to truly develop a neighborhood infrastructure it is not the superior investment locale. Williamsburg has some nice looking homes, but you invest not just just in a home but in a community. If you like Brooklyn, look at Park Slope.
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Response by columbiacounty
over 12 years ago
Posts: 12708
Member since: Jan 2009
holy shit. you did it.
over the line.
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Response by sirvogey
over 12 years ago
Posts: 29
Member since: Oct 2010
Very interesting. Is the suggestion that prices in Astoria will be going up because it is more established and has better transportation? Or that Williamsburg prices will pop, so a steady Astoria is the better investment?
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Response by greensdale
over 12 years ago
Posts: 3804
Member since: Sep 2012
HI C0C0, how was your ride on the Taconic?
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Response by MattThompson
over 12 years ago
Posts: 92
Member since: Mar 2013
How about LIC?
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Response by jason10006
over 12 years ago
Posts: 5257
Member since: Jan 2009
"How about LIC?"
Depends on how long you want to wait. Astoria ALREADY has more of everything than either WB or LIC, and has lots of housing stock that could be upgraded, IMO. LIC has more brand new stock. So if your goal is to buy, totally fix up, and increase value, with lots of stores, restaurants, and bars, and decent subways I'd say Astoria. If you want glass gleaming high rises, good subways, few services LIC. WB is in-between.
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Response by cityrat
over 12 years ago
Posts: 15
Member since: Jul 2011
Here is where you should invest now:
Ridgewood.
Not joking.
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Response by MattThompson
over 12 years ago
Posts: 92
Member since: Mar 2013
why ridgewood?
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Response by secondtimearound
over 12 years ago
Posts: 22
Member since: Nov 2011
Ridgewood is close to Bushwich.
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Response by NRBK
over 12 years ago
Posts: 13
Member since: Apr 2012
Thanks for the suggestions but I am really looking for thoughts between specific areas .. either Williamsburg by the south east portion of McCarren park or Astoria by the 36th ave station... where would you park your money today and which area has more potential for growth / appreciation?
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Response by MattThompson
over 12 years ago
Posts: 92
Member since: Mar 2013
Williamsburg
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Response by Ottawanyc
over 12 years ago
Posts: 842
Member since: Aug 2011
Nrbk, around there are about four large buildings under construction in that spot in wb. More density = more services = more desirable. If it right along the park you also have advantage of no construction moving forward. You can't really go wrong.
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Response by kharby2
over 12 years ago
Posts: 279
Member since: Oct 2009
Sure you can go wrong. Take a look at the FEMA flood map.
You said it yourself...
Whereas, Astoria is more established,...., has more access to daily needs, more subway options.
Those are important contributions, more so than being chic. In my opinion because Williamsburg lacks those things, and considering how long if ever it takes to truly develop a neighborhood infrastructure it is not the superior investment locale. Williamsburg has some nice looking homes, but you invest not just just in a home but in a community. If you like Brooklyn, look at Park Slope.
holy shit. you did it.
over the line.
Very interesting. Is the suggestion that prices in Astoria will be going up because it is more established and has better transportation? Or that Williamsburg prices will pop, so a steady Astoria is the better investment?
HI C0C0, how was your ride on the Taconic?
How about LIC?
"How about LIC?"
Depends on how long you want to wait. Astoria ALREADY has more of everything than either WB or LIC, and has lots of housing stock that could be upgraded, IMO. LIC has more brand new stock. So if your goal is to buy, totally fix up, and increase value, with lots of stores, restaurants, and bars, and decent subways I'd say Astoria. If you want glass gleaming high rises, good subways, few services LIC. WB is in-between.
Here is where you should invest now:
Ridgewood.
Not joking.
why ridgewood?
Ridgewood is close to Bushwich.
Thanks for the suggestions but I am really looking for thoughts between specific areas .. either Williamsburg by the south east portion of McCarren park or Astoria by the 36th ave station... where would you park your money today and which area has more potential for growth / appreciation?
Williamsburg
Nrbk, around there are about four large buildings under construction in that spot in wb. More density = more services = more desirable. If it right along the park you also have advantage of no construction moving forward. You can't really go wrong.
Sure you can go wrong. Take a look at the FEMA flood map.