1st Ave between 52nd and 53rd

Yep - good ol' Brooks2...

He/she reported every single sale on that block that was under $650/sf - said it was "approaching $500/sf" across the board in that entire area, and used that as a yardstick to extrapolate that *all* prime Manhattan real estate would heading in a straight line down across the island to an average of around $500/sf - any day now.

Good ol' Brooks2...

mj, I don't think you got the op's point at all. Reading comprehension is key, not just knee-jerk reactions. I'm pretty sure that the block discussed is not one with much if anything for sale. Although with the new SE I don't feel like checking.

But why a single block would call out is odd. Seriously.

aboutready: My reading comprehension is quite fine, thank you.

The OP begins with "...Every time I walk down this block I think of Brooks2 v. RENY on midtown east..."

And I simply recounted Brooks2's specific, repeated, prolonged, ad nauseam commentary on the price point related to the specific area mentioned, and then his/her prognostications based on those specific observations.

Otherwise, the same OP could have completely omitted the first sentence I quoted, and started directly with "..This block creates a particularly poor impression of midtown east..."

And that's MY point, which you didn't get at all. Reading comprehension is key, not just knee-jerk reactions.

Toll Brothers now has most of the west side: http://therealdeal.com/blog/2013/01/08/alexico-unloads-troubled-development-site-for-64m/

On the east side, the William Gottlieb heirs, who mostly sit-and-hold, have the 53rd end. The rest of the blockfront to 52nd is owned by El-Kam Realty. I guess they'll develop it sometime, but meanwhile the retail pays the taxes. Note how they've removed all the First Ave. entrances to the abandoned tenements upstairs.

No the op is talking about specific issues on a single block, and appears to be concluding that at least for this block of ME brooks2 might be correct in his battle against RENY.

Speaking of ad nauseum...

Whatever happened to Brooksie?? He insisted that he would be able to buy Midtown East residential real estate for $500 per sqft. I guess he disappeared when his prediction turned into a joke. LOL!

NWT - As always, many thanks. Zillow should pay you.

AR - this block really stands out on both sides as just awful. Unusual to see as I find most of midtown quite nice. Aside from walking down it everday I am in New York, my desk faces it directly from on high so I look at incongruity all day.

A waiting game ... there's a major upzoning in the works for Midtown East office development. It requires substantial lot size, and doesn't quite reach as far east as First Avenue in current proposal, but this or a similar rezoning are probably causing the sit & see stance. Plus undoubtedly a whole lot of lobbying.

http://www.nyc.gov/html/dcp/html/east_midtown/index.shtml

I have been a big midtown east promoter also. There are new schools, new retail, it has always been underpriced given the convenience, The zoning seems to be high on Mayor Mike's list of things to get done before leaving office. Which could mean many things. It may very well be that if you buy here your unit will appreciate but you might not like the neighborhood nearly as much. Or maybe you'll love it. I don't think I would, but it's all a matter of personal taste.

NYCNovice, due to the zoning issues not many projects in ME got off the ground before the recession. There are a few blocks where developers had started the demolition process fairly late and a couple of them look awful. But change marches on, and real estate developers abhor a vacuum, so eventually it will resolve.

>aboutready
about 1 hour ago
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I have been a big midtown east promoter also.

Really, is this a continuation of your Brick Underground gig?

AR and AH - thank you for insight.
Hi FC - your baiting of AR is always hilarious; she is a much better match for you than CC, but I am not sure she likes you as much as you like her.

Midtown East is great for law firm offices.

And Hedge Fund offices.