What area of NYC (include "it" areas) will see the biggest declines in the next year?

Not to mention Ridgewood and Blissville.

Blissville? Hilarious, you may be one of the few people who have even heard of Blissville. I suppose Skunk Hollow has now been given a more attractive name than "Skunk Hollow." Or is that the same area as Blissville? Good bets for sinking property values, all of 'em.

Blissville's got the NYC view going for it, just like LIC, so prices CAN'T god down!

Blissville is in County Queens. I think it's even funnier than Utopia, also County Queens, but you need the visuals to truly appreciate them.

Earlier in this post, I noticed quite a bit of mention of Manhattanville. There are limited opportunities to buy in Manhattanville that are not owned by Columbia or are Housing Projects. On the southern end of Manhattanville, the properties are priced closer to Morningside Heights levels. Much of the 120's-lower 130's east of Broadway are massive housing projects. West of Broadway, much of the property is owned by Columbia. On the northern border of Manhattanville are some opportunities, but not a lot. North of Manhattanville is Hamilton Heights- which has been improving and will likely absorb much of the positive changes from it's southern neighbor- the housing stock here is much larger, and with limited housing projects (which is very different than East or Central Harlem). I bought into the neighborhood in 2005 and have been watching the changes. It's still a bit gritty (except for most of the Sugar Hill section) but most of the properties here will deal with our current economy and shrug it off- and I feel confident in my decision to buy here. There are only a handful of areas of Manhattan where it is quick and easy to catch 5 different subway lines or more- and Hamilton Heights is included in this group. With that said, going back to the original topic, I think West Harlem can only make it to the hardest hit list for a brief period before recovering or at least leveling off. I see 2 units in my building up for sale with multiple price cuts and still not generating interest. Of course I think one of the units was initially grossly overpriced to begin with- and is now at least in a reasonable level (but still well above the original purchase price).

You guys make this a full-time job :) ...and I guess working part-time in your real job? I wonder if you can make twice the money if you spend as much time with your jobs as you spend posting on this board. I'm jealous, I'd like to get the same job. :) Oh what the heck, why can't I just find someone to marry with a multi-million dollar trust fund like petrfitz who hit the jackpot? LOL!

You guys make this a full-time job :) ...and I guess working part-time in your real job? I wonder if you can make twice the money if you spend as much time with your jobs as you spend posting on this board. I'm jealous, I'd like to get the same job. :) Oh what the heck, why can't I just find someone to marry with a multi-million dollar trust fund like petrfitz who hit the jackpot? LOL!

"Oh what the heck, why can't I just find someone to marry with a multi-million dollar trust fund like petrfitz who hit the jackpot? LOL!"

Now I understand. He's a limousine liberal. Tell us Petrofitz. Who'd you bag. Was it Spitzer's sister?

"There's no such thing as LoHo"

LoHo is the name of a major real estate firm on the LES. A few years ago, some realtors tried to coin the term "LoHo" to make the area soud more prestigious, but it failed. Personally, I think the LES has a stigma associated with it that will always keep values there down since the area is forever tied to housing projects and low income immigrants. I grew up on the LES and attended schools with some pretty rich kids back when I went to PS6 and a private school in Queens. I NEVER once told anyone I lived on the LES. If they asked where I lived, I would say the Financial District.

That was 20 years ago. LES has a different stigma right now among the 20's crowd. I'm sure that's not a good thing, but these hipsters and young bankers will mature one day and the neighborhood will evolve like the East VIllage has.

I've met LoHo Realty's owner and he projects "ëvil".

LoHo realty sucks. They could not sell my apartment when I listed it with them, and they price their properties too high. If Corcoran opended up shop on the LES, LoHo would be out of business in a week.

And what do you mean by "evil" newaccount?

I think LoHo is average in pricing. They usually get within 0-5% of asking price. The other prominent realtors are getting the better prices.

I got an evil vibe from from Jacob. I'm not sure what it is, but it's just that feeling something ain't right when you meet someone. He came off like a sneaky SOB.

Actually newaccount, there was a recent sale at Seward Park (a LoHo listing) that sold for 10% off asking. It was a 2 bedroom listed for $799,000 and sold for $720,000. As the market weakens, I expect lisitng discounts to increase, which is what Miller Samuel is already finding.

That's the market speaking. It shows you can ask all you want in any neighborhood. Price cuts are apparent in Chelsea new construction as well. For that Seward apt, that is what 2 br's go for. Unless the finishings are blinged out, I don't see why someone would pay more than that for Seward.

"Personally, I think the LES has a stigma associated with it that will always keep values there down since the area is forever tied to housing projects and low income immigrants."

You're wrong.

"LoHo realty sucks."

You're right.

The values of the apts in Seward, and the other co-ops in the area are seriously impaired by heinous flip taxes. These flip taxes seriously impeed what one should pay for these properties. IT may be good for the community as it kept prices in check during the republican credit crisis. however, from my perspective the flip taxes hurt a long term return on these properties. They are a great place to buy if you want to live in Manhattan with a family but not the best investment.

The $64 question for the LES is how the huge lots on the south side of Delancey, near the Wmsbg Br, will be developed -- upmarket or down, or put off until the next boom? Any word on that?

you are referring to the SPURA properties. There is no immediate movement on them. There is a huge community support from some to build them affordable, others mainly the Seward park people want them to be market.

I think that the affordable set asides in the EV?LES 197 A rezoning take away from the argument that they need to be affordable. It will be a tough battle that I dont think will be resolved in the next 5-10 years.

There are a few things that could push that timeline:

1 - NYC needs money and decides to sell the land - which could very well happen in this economy.
2 - Silver gets bought off and lets it go market rate.
3 - the EV rezoning is applied to this area and it becomes 80% market/20 affordable.

Do you people seriously beleive that large scale new developments are going to be built in this market? Half the builders out there can't even get financing! And there is already too much inventory. WHat do you think will happen to prices if we add to it?

How about now?

frothy

Interesting to look back now at all the stupid comments by the LIC naysayers 7 years ago.

Interesting because Long Island City is still a toxic shithole that you wouldn't want to roll your windows down in while driving through? Dog bites man.

www.nydailynews.com/life-style/real-estate/expensive-rent-queens-brooklyn-article-1.2323683

And Alan shows even one person can't stop the stupid even seven years later. Must be embarrassed at how his public comments are proved over time to be so ridiculously dumb.

If it makes you feel better, LICComm, I'll restate my position to admit that Long Island City is Love Canal lovely.

Is there really any daylight between Long Island City, especially the Hunters Point portion and Greenpoint/Williamsburg?
If they were to combine them into one area, I wonder what they'd call it.

Long Green City? Green Long Point?

Long Green City? Green Long Point?

The neighborhoods are distinct. Hunters Point with the high rises and commute to midtown has a different feel from Williamsburg, which connects to the Union Square area and is more of a hipster area. Greenpoint has no direct public transportation to Manhattan.

Song Peent Gritty? LICC makes an important point. It should be subdivided into Pulaski North and Pulaski South

I think the troll was looking for "Huntersburg," but I like how the nonsense question has generated substantive posts about the area that might be helpful to ny novices such as myself.

Yes, why don't you create a couple more names so you can approach the same question from different angles pretending to be a different person. I'm thinking LICNovice, New2LIC, LICDreamer, LICityrenter,

How about MultiBoroughResident?

If you are going to live in Long Island City / Greenpoint / Williamsburg, you should be committed.

Pulaski North could also be called by its long-standing WYSIWYG name, Dutch Kills. As The Wikipedia so poignantly splains,
Because the surrounded neighborhoods are completely sewerized, the creek has little natural inflow. Its outgoing flow of 14 billion US gallons (53,000,000 m3) per year consists of combined sewer overflow, urban runoff, raw domestic sewage, and industrial wastewater, historic and current: The creek is largely stagnant, one cause being the 15-foot-thick (4.6 m) layer (in some places 25 feet (7.6 m)[2]) of polluted sludge that has congealed on the creek bed.[1]

But many traditionalists still prefer District of Overpriced Underserviced Condo Housing Eyesores Between Astoria and Greenpoint.

Of course.

Kudos to whoever it was who first identified it as such.

FC - Okay, this might be an instance where I am seeing intelligence and wit that might not be there, but I am thinking the double entendre with "committed" was intentional.
Alan - If we ever meet again in person, remind me to tell you storry about a nastygram that was once sent by one of my colleagues to opposing counsel where if you read down the first letter of every line, the author's opinion of the recipient was unmistakeable, despite the otherwise professional tone and substance of the letter.

Alan, now you can avoid the next meet-up with NYCNovice et. al. since you already heard the best part of the story of the nastygram.

Fair point. While I think what the letters spelled and the recipient's reaction were also notewrthy, the fact that the letter contained a not-so-well hidden message is probably the best part of the story. Can we bring this thread back on topic? Now that the date of reckoning in the thread's title has passed, was any poster proven correct? Even if I read the hundreds of posts, I would not know if anyone was right b/c I do not know which, if any, areas declined in the specified timeframe, let alone which declined the most.

For an answer about declines, negative trends, etc, I would talk to posters on Streeteasy who are naturally negative and bitter in their nature. c0lumbiac0unty hasn't been seen for a while, yicky was probably one of those who has been outed by Ashley Madison and is in hiding, and w67 is still fending off the people trying to touch his wife, so probably next is Bbhurg - she isn't all the time negative, often swinging to the opposite poles of negative and positive, but more often resting on negative, so I suspect she'll have an answer.