Sale at DeKalb Avenue

wondering the same myself

because people are getting wiser...when the housing bubble bursts...these areas will go down very quickly.

I'll go out on a limb and say "location". I haven't been inside that building, but one night I was in that 'hood, and I do mean 'hood, and it wasn't what you'd call "inviting". I'm always amazed at the builders (the Developers Group does this a lot) that erect a new, and sometimes cool-looking building smack in the middle of a totally shitty street. Like, just because the inside of your apt looks nice doesn't erase the fact that you're paying 3K/month to own a 1BR in the ghetto. I'm not talking specifically about DeKalb, but there are tons of new buildings like this in fringe neighborhoods.

So there's been another 20k reduction on these.

if they were smart a developer (or group of developers) would all build in a geographically close area.

one of the most interesting areas I've seen in the last year is a part of town in dalls that was all industrial, 10-12 restaurants/bars all opened up in the same area in a 12 month period and now the place is smoking hot.

i know its hard to co-ordinate aquisitions but how hard is it to grab a coffee once a quarter and talk about macro strategies?

Dean

dean~
it's because in NYC everyone is very busy