"I bought at Arris at the height of the market, and boy do I regret it. "

Do you troll all sorts of message boards looking for peoples misery stories? Does it make you feel better about your pathetic, miserable life?

No, it makes me feel better about my awesome, enviable life.
;-)

No, seriously, I feel bad for folks who made bad investments... but I don't think there is anything wrong with considering what might be wrong with specific properties sold in a market where bad stuff got passed off as good...

I have followed this building since 2005 and realized that it's the top of the market when a building in such a poor location could sell. I'm sure there are regrets and resales. Those who made it out without a loss should consider themselves lucky.

Anyone here have any real inside info on it (live in themselves or have a family member who does)?
I live nearby and have always wondered how that building would do over the long run... not a great location to me (at those prices)

Before they converted Arris to apts I used to think that would be a great buildings for conversion, and as much as I might like it, the prices are too steep for me. Always been curious about the building though - what people really think about living there.

Dude, that is OBVIOUSLY a fake post. The name of the poster is "TROLL under the Polaski Bridge". Also, it is a running joke on Curbed that any discussion about LIC becomes a p*ssing contest between City Lights and Arris residents. The Arris folks always mention how the City Lights facade is deteriorating and the extremely high maintenance costs, and the City Lights folks always mention how Arris is priced very high and has a less than ideal location where there have been a number of hooker sightings. The discussion, although repetitive and boring (not unlike much of the discussion on Streeteasy about LIC) does bring up legitimate points, though. I think both buildings are flawed - Arris for it's location and pricing, and City Lights for it's high maintenance costs. And I am not offering my opinion as a side-lined-player hoping for a crash, but as someone who seriously looked into buying in LIC, but ended up buying in Williamsburg.

I have to tell you, I was awful surprised to find out those things are basically *on* the train tracks...

Eddie you are such a compassionate human being, so concerned about the welfare of someone who could have made a bad investment in real estate.When your Karma does hit watch out Eddie, you are in for one hell of a ride.

Karma will be great for me... I've tried to tell as many folks as possible over the last couple years not to buy. Its not my fault that they didn't all listen.

And we ALL know if you don't listen to Eddie Wilson you making one tragic mistake, Get a grip and call me in 7 years when there is a HUGE increase over todays prices.Lets not forget real estate is a LONG TERM INVESTMENT.

Actually, its not. The long term real return on RE is just about 0. (source: Shiller)

Any other investment advice you want to give?

Funny I always thought it was 4%, but I bow to the genius of Fast Eddie Wilson.

No, Shiller...Robert Shiller.

BTW, if you're talking 4% nominal, thats approached 0 with inflation...

Either way, guess what happens when/if the NYC market reverts to the mean... even if it is 4%

Great to see more misleading information from Eddie. In NYC, the long-term nominal return on real estate for the past 40 years has been roughly 9%. Take into account the leverage factor, and if you owned real estate long-term, you have made a pretty good return on your investment. How many times are you going to post stupid comments for everyone to see Eddie?

I live my life and wait till it goes back up,because I have no need to sell my long term investment, but lets talk again in 7 years.

ROTFL. Dude, you're still here?

Because you don't like the truth, its "misleading"1!?!? Why pick only 40 years? And, almost 25% of that period is the biggest run up in history, which is now popping.

Wow, talk about the pot still calling the kettle black. Talk about misleading.

> How many times are you going to post stupid comments for everyone to see Eddie?

I'll do it each time you write the stupid comments for me to quote... and you've given me PLENTY.

Keep it coming, moron!

Ì just put the kids to sleep. Guess that they like... Trains!

CHOO-CHOO!!

Eddie says "The long term real return on real estate is zero", Fast Eddie how do you have the nerve to call someone else a moron, that statement says it all.

zorter, keep digging yourself deeper and deeper. I gave the source of the data. If you don't like it, go dig up your own data... guessing doesn't count.

(but, here is a hint... you are wrong)

> how do you have the nerve to call someone else a moron,

Fairly easy, when the moron is the idiot who has insulted more folks on this board than anyone else.

Eddie Wilson, the man with the reputation of being the most obnoxious douche on this board, is whining about someone else being insulting. That's priceless.

You can't point out one time that I insulted anyone who was posting respectful comments, or one time where I insulted anyone's choice of neighborhood to live. Eddie, stop blaming everyone else for the fact that you are so disliked.

ROTFL.

Dude, you are DILUSIONAL. You're pretty well known as the biggest moron on the board...

You haven't posted a fact.. well, EVER. You do nothing but post insults.

> You can't point out one time that I insulted anyone who was posting respectful comments

Sure I can... its called EVERY POST you make. You haven't posted anything but insults.

You haven't posted a lick of data since joining the board.

Lets take a little stroll down LICComment hypocrisy lane, shall we. This is just off ONE THREAD.... and none of these were responses to insults of LIC, they were all just him being well, him. And, to make it objective, none were aim directly at me...

"Wow there is a lot of dumb commentary here."

"newaccount, I'll try to be patient and dumb things down so you can understand. "

"People who say that [lic condos] are overpriced or not "worth the money," are people who can't afford to buy there and are bitter"

"Thanks for showing everyone how clueless you are."

"You must be an MBA with your business savvy . . ."

"You usually have to finish high school and college before you can get an MBA. "

"I bought my first place in 1998. Did you pay your rent for this month yet?"

"I think I see the pattern of the bears who post on this board - they are either bitter renters or others who are angry that they can't afford to buy a nice place where they want to live, or people who couldn't make it working on Wall Street so they lash out at the Wall Street crowd that is doing well and hope for a real estate crash."

"I'm glad others can see how dumb are most of the comments from these few LIC bashers."

So, tell us again about all your informative and non-insulting posts again?

He's the Junkman of LIC, but confuses insults for facts.

Don't be bitter, LICComment. All that run up in RE you owned since 1998 will be washed away in a few months time. Everyone is a hero in a bull market. LIC is not equipped to weather a bear market.

Hmm, like I said, I have never posted insulting comments to anyone who was being respectful, even if we disagreed on things. Seems like you've spent quite a bit of time thinking about my comments Eddie.

> He's the Junkman of LIC, but confuses insults for facts.

Bingo....

> Hmm, like I said, I have never posted insulting comments to anyone who was being respectful

Yes. I guess that every single other person on the board isn't being "respectful".Nice rationalization... but you're still a putz. You've jumped on quite a few people that had said *nothing* toward you.

> Seems like you've spent quite a bit of time thinking about my comments Eddie.

Easy there, hypocrite... seems like its you following me around and trying to post after anything I post... this thread being one of many.

I'm sorry you are bitter... but keep your problems to yourself.