The mood is gloomy in the city

Okay....I absolutely agree w/ your stmt.. but just to play devil's advocate... my favorite things to do in NYC is:
1) in winter, skate at wollman rink at nite;
2) enjoy a free concert in the park in the summer (my wife still talks about Simon and Garfunkel)... I liked the Go Gos :);
3) The fact change is a constant and new/cheaper/better restaurants are just 6 months away esp. with lower commercial rents (it's gonna bite me..... but it is what it is);
4) Some of the best RE deals ever recorded in NYC occurred in the 70's.

So cheers... and watch the Sound of Music... "I am 16, going on 17....."

ah, the seventies, $1 coops, be patient, there will be plenty, especially in the 60's, just north of the bridge.

"I'd like to teach the World to sing, in perfect harmony"
"Joy to the World, all the boys and girls"

"warriors, come out to playayay

ah, the seventies, $1 coops, be patient, there will be plenty, especially in the 60's, just north of the bridge.

"I'd like to teach the World to sing, in perfect harmony"
"Joy to the World, all the boys and girls"

"warriors, come out to playayay

ah, the seventies, $1 coops, be patient, there will be plenty, especially in the 60's, just north of the bridge.

"I'd like to teach the World to sing, in perfect harmony"
"Joy to the World, all the boys and girls"

"warriors, come out to playayay"

ah, the seventies, $1 coops, be patient, there will be plenty, especially in the 60's, just north of the bridge.

"I'd like to teach the World to sing, in perfect harmony"
"Joy to the World, all the boys and girls"

"warriors, come out to playayay"

sorry...can't afford a new mouse...it has cheeze-whiz stuck to it..won't happen again

w67thstreet is one of the few people on this board who is in touch with reality. Everyone else is in a state of delusion regarding how bad of a shape NYC is in.

patient09... LMAO... clean out that mouse... and pls... I don't need to know what's mucked up in it...

quantum.... you by default should help me dig the bomb shelter :)

The guy who posts under 5 different usernames is calling everyone else delusional.

Read the NY Times article about NYC's decline, if you don't believe me.

w67th, I think you've just been insulted. This time for real.

quantum, since when the NY Times's word is the final truth? Self-aggrandizing pompous shallow rag.

osiris, the NY Times interviewed actual NYC residents and professionals, and they all agree that the city's glory days are past. I'll trust their words over people on this board.

aboutready que?

TONYS DI NAPOLI is now offering individual dishes for take out and dine in.

can you link to the article?

The Times is declining, must be in a rather sour mood over their debt arrangements, not a chipper place.

Of course things are downbeat. The economy is in the shitter, not just here you moron, all over the place. We're all declining now, and don't give me any crap about Portland, Houston (or Dallas or whatever crappy Texan town you come up with) and Seattle. Portland is a charming small city filled with pod people, and the latter two will go down shortly as oil prices plummet and people quit ordering new computer systems and Boeing finishes filling it's outstanding plane orders.

w67th, when quantam/rufus commends you, something's wrong.

ar... r u serious? q=rufus...no way :) but i've only been here 3 months? me thinkz
typing like a teen girl...my son is aslp on my left shoulder ...

You whiners are soft!..Shut up, relax. Its called cyclicality (is that a word). It just so happens we fucked it up worse than normal this time so the extremes will be more severe. For the last 15 years the pols cried when GDP started heading south of 2%, so instead of nice normal cycles, we are in for a nasty one coming up. Now the good news, deep breath, relax, think, and pick and choose your spots to take advantage of the lemmings. Remember 1% of the population has always figured out how to take financial advantage of the other 99%, always been that way, always will be that way. This will prove to be one of the greatest opportunities in the history of ever to continue this great tradition. Think, be ready, kill, and eat your dead!

p09....ooohhhh! i hope it tastes like chkn :)

UD...luigi's on 55th st 8th ave...

Rufus/quantum/whatever he calls himself is an idiot.

The link to the article is here. It's devastating.

http://www.nytimes.com/2009/01/18/fashion/18york.html?pagewanted=1&_r=2&ref=nyregion

The link to the article is here. It's devastating.

http://www.nytimes.com/2009/01/18/fashion/18york.html?pagewanted=1&_r=2&ref=nyregion

Didn't you cite a NYTimes article that quoted Jeff Tweedy as saying Chicago was the center of the world as proof it was so? Yes you did.

As the NYer said, it’s like a member of the family has died, and its name is Money.

"there is a sense that the thrill of paying $20 for a cocktail is over. "

yeah, such a thrill to pay $20 for a drink. typical NYT crap.

Woo hoo, the 70s! Wasn't that back when if you were smart/creative/hardworking (instead of just funded by a trust) you could live and thrive in NYC?

I miss the tranny hookers but not the drug dealers. However, if they go with the edge that I miss, I'm willing to deal.

Some great movies were made back in the 70's that took place in NY...already referenced, 'The Warriors' and don't forget, it's the 35th anniv of Death Wish! Perhaps prices on RSD will plummet! Who will take back the streets this time?! Poor Charles Bronson

What part of the 70s are we headed back to? Do any of us really think NYC crime will rise that much? I find it hard to believe that times square will turn back into what it was...hell, think of what the upper west was in the 60's/70's as opposed to now! (watch Death Wish...didn't he live on 75th and RSD?) I just don't see that happening (and i don't own a place, so I'm not biased here.)
I'm all for doom and gloom, but lets not get totally crazy.
Then again, time to purchase a pistol and stroll through RSD late at night?

haha

How would rufus know what the mood is? He's in INDIANA!

I was here back in the day. I loved the dirty New York. I hated the crime. I was in high school in the 70's. Kids who carried clariets home from school also carried mace! I know...I was one of them. I can handle thing getting poor and dirty but, it would be a shame if things dangerous again. We live in this town for the people. Everyone knows this. Most of us are so insane that we would stand out in any average size town. Here we blend in! They always keep the kooks on an island. YEAH KOOKS!

NY Times article in the Fashion & Style section. Very credible. rufus/quantum/JohnAnthony/DivineComedy, you can find somebody to write anything on any topic. This article gave no data, no reference and was meant to be read as purely leisure. Only a troll like you would take this is fact. When has anyone ever been on 6th Avenue in Midtown during business hours and felt like a ghost town? That is exaggerated journalism. You are unbelievable. Time to create a new identity and promote Miami or some other city.

lol

I agree that nyc is headed for some bad times (which I'm personally excited about) but any article in the Style section of the nYT is journalistic garbage.

I agree that nyc is headed for some bad times (which I'm personally excited about) but any article in the Style section of the nYT is journalistic garbage.

"but it feels a little grittier; there is a sense that the thrill of paying $20 for a cocktail is over. I find that my friends are still going out and want to have fun but their tolerance for the ‘price of exclusivity’ has waned.”

"The overall result, he added, is a city that feels like it is “definitely shedding whatever New York was a few years ago.”

This is the best news I've heard in a years. New York needs to return to it's gritty 1970s vibe to once again be a great city. If the trends of the past couple years continued we'd turn into Stamford, CT.

wasnt the same exact thing said after the dot com bubble and again after 9/11? but its "true" this time. Everyone is leaving Manhattan. The fun is ending no one is going to ever make money again...its true this time.

Poor drivel.

I believe in NY and in America. It will only be a matter of time before prices on everything shoot up again, and only a maater of time before Wall Street finds another way to rape and pillage the hard earned money of American citizens.

I think that not only should you doom and gloomers not buy real estate like you crow on about, you should also leave New York and never come back again. Please.

Wouldn't that result in a lot of empty rentals, petfritz?

petrfitz:
"I think that not only should you doom and gloomers not buy real estate like you crow on about, you should also leave New York and never come back again. Please."

maybe you posted your comments to the wrong thread. I think most on this and similar threads have been in NY a long time, will continue to be and enjoy it. The topic is on this and most others is simple. Realize the extreme cycles that occur, learn from them each time and profit accordingly. I am not a native NYer, but I have been here 22 years and hope to be here another 30 or so. There is a big difference between being a "doom and gloomer" and being realistic and focused on market dynamics at work.

patient - you speak of cycles? does not a cycle consist of ups and downs and back to the up? my whole point is that all these doom and gloomers are market timers. they think that they can ride every cycle buy when the price is low and sell when it is is highest. that is bull shit.

These naysayers are wannabes. They actaully want to part of the owner class but couldnt so now they act like it is their decision or their knowledge of finance. For example Steve acts like he rents in the city and owns a condo because of choice. The real fact of the matter is that he never earned enough money or never had the guts to take enough risk to become a building or multi building owner. NYC10022 and the rest are also wannabes trying to make themselves feel better. Not one of the naysayers were serious real estate owners at any point in their life. They act like it is their decision. Now a naysayer would have credibility if they owned multiple properties and actually sold them.

These guys are like monday mornign quarterbacks who watch the game on TV and feel like they can give the actual players advice. i say to them leave streeteasy for those who are actual real estate investors, and while they are at it leave NY as well. I am sure that EdieWilson/NYC10022 can get another low level banking job in NC.

topper - no empty rentals for me. I dont own in an area that would attract this ilk. nor do i rent to these type of people. I like my renters to be surrounded by others who are not poser a holes. Its easy to spot the Steve's and NYC10022's of the world a mile off. a lot of them live in the UWS.... aznd work on wall street the most vapid areas of NYC.

Wow, petrfitz, you must be really, really smart!

I rent by choice. And I've owned (and own now). There are good times to buy, and not so good times to buy. 2004-present has been the mother of all bad times to buy. And, by the way, I'm a democrat (I even like unions).

Are your tenants immune to unemployment? Is there some blood test you can make them take so that you can tell they're not of that "ilk"? You should market that.

"wasnt the same exact thing said after the dot com bubble and again after 9/11? but its "true" this time. Everyone is leaving Manhattan. The fun is ending no one is going to ever make money again...its true this time. "

Everyone isn't leaving Manhattan. They'll all stay, just at half the salaries and half the prices/rent.

"topper - no empty rentals for me. I dont own in an area that would attract this ilk. nor do i rent to these type of people."

Yes, he owns in the ghetto, so he can be near the ghetto-fabulous folks like him. All debt and gold earrings... nice!

"I like my renters to be surrounded by others who are not poser a holes. Its easy to spot the Steve's and NYC10022's of the world a mile off. a lot of them live in the UWS.... aznd work on wall street the most vapid areas of NYC."

Yes, its always the REALLY successful people who brag about their "winnings" on anonymous message boards..... especially the ones who call the market as badly as humanly possible.

We are talking about the chump who said "buy manhattan RE" at the top of the bubble.

The man insults himself enough, I don't have to try...

"does not a cycle consist of ups and downs and back to the up? "

and then back to the down.

Still haven't figured out how that works?

> The real fact of the matter is that he never earned enough money or never had the guts to take
> enough risk to become a building or multi building owner.

Yes, just like the manicurist on CNN who bought 5 properties.

Pertfitz, I'm sorry you are losing your shirt on AWFUL investment bets, but lashing out at others won't fix that....

NYC10022 you got big pravodo for a junior trader who got laid off and has never owned property or made a serious investment in your life. But if you keep on dreaming maybe someday you can be like the rest of us who actually have wealth and actually make investments.

I think if there's anything we can take away from the debacle that has been the last couple of years is that those who are making investments are not always the brightest.

petridish... mmmmm... human tastes like chicken... no matter their ilk. funny as hell you speak of "poser aholes"... in the great scheme of things... our civilization is not that civilized (we r in fact poser aholes).... I am not a huge weightlifter compared to some of the guys in Kapiolani 24hr fitness (I am a poser ahole.... but can out lift Regis at Reebok (what a poser ahole).... I am a poser ahole compared to my dad's mini empire of NYC RE and RE investments in assorted other countries... I am a poser ahole sailor compared to to my friend who sailed to thahiti (BF EPIRBs).... my need to pick up RR, Porsches, Hondas at 50% off makes a poser ahole to the guy at the club who wouldn't be caught dead in a "used car." (BTW... all cars are used unless you sit in it as it rolls off... a wise used car salesman once told me)... take a good look at yourself.... there's some guy, better looking, smarter, bigger, richer, more accomplished and with a better haircut than you...

"patient - you speak of cycles? does not a cycle consist of ups and downs and back to the up? my whole point is that all these doom and gloomers are market timers. they think that they can ride every cycle buy when the price is low and sell when it is is highest. that is bull shit."

The whole concept of market timing is almost completely inapplicable to real estate. Market timing is the idea that one can ignore the fundamentals of the valuation of an asset and make money predicting market swings independent of valuation by either (a) buying an overvalued asset on the expectation that it will continue to rise in price or (b) selling an undervalued asset on the expectation that it will continue to decline in price. You know who the only market timers in real estate were? The flippers - the ones who are losing their shirts right now.

The real estate market is not especially liquid, so the idea of buying and selling in relation to market swings is ludicrous. Most people only own one property and they invest their life savings in it. So, the price of a property matters. The fundamentals of the market matter. If you believe the fundamentals of the market indicate the price of a property is too high, DON'T BUY. Because we are coming off of the largest real estate bubble in history, it just so happens that the asking price on nearly every property in New York is too high. So very, very few transactions should be happening. Which is exactly what is happening.

This "You can't time the market" nonsense is just another way of saying "Buy now or be priced out forever." You want people to ignore everything they think about price and value and just buy real estate. Because real estate only goes up, up up. You've made yourself clear. But you're still wrong.

as usual, w67thstreet makes ZERO contribution to the site and created yet another completely unreadable statement. Does he even know how to write? Probably one of the most uneducated posters on this site.

dear poser a hole w67thstreet - you truely sound like a complete poser a hole who thrives on being a poser a hole. i dont care if "there's some guy, better looking, smarter, bigger, richer, more accomplished and with a better haircut than you" as none of those things matter to me. Now I get jealous when I find someone who can give me a run for my money being "right brain and left brain, better at creating content, more knowlegible in my field, more creative and more productive...."

I actually met that guy recently. The guy who I would love to be someday. He definitely is not like you.

"I actually met that guy recently. The guy who I would love to be someday."

Who? Papa Smurf?

BJW - someday you will have a witty comment. Maybe someday you will actually have enough real experience to comment on real estate.

zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz

I wonder what Macklowe has to say about real estate? Swig? Trump? We could cast further afield and ask the developers of the Inland Empire in California, maybe the big boys in Miami, what their comments are.

petrfitz, you have nothing to add to this board when you never answer legit questions about your supposed real estate investments. What kind of rentals do you have? Are they tenement-style walkups? What's the range of rents you're getting? You think you contribute but you never share this pretty basic info - so quit hurling the insults and demonstrate that you actually have some experience and knowledge. Otherwise we have no real use for your posts here.

i have always said that I own tenanment buildings. 1 bedrooms around $2500 to 3 bedrooms with decks etc at $5000

I dont own lux buildings. I keep my rents low, tenants happy, apartments full.

tenement bldgs one bedrooms $2500 3 beds $5000...which unemployed, poor person lives in one of your "tenements" paying that rent. You keep your rent low...I don't usually get into the hate speech here but you are not telling the truth, to be polite.

"NYC10022 you got big pravodo for a junior trader who got laid off and has never owned property or made a serious investment in your life. But if you keep on dreaming maybe someday you can be like the rest of us who actually have wealth and actually make investments."

Yes, Perfitz, lying will save your lousy investments! i'm sorry you got your ass whooped by your RE mistakes, but lashing out isn't going to fix that...

Btw, Urban Digs article from Jeff Bernstein predicts a 13-15% vacancy rate in manhattan residential.

Quantum - In 1979, Businessweek published "the death of equities" right before the market went on the largest bull market of modern times. It is people as naive as you who take the NYT article to heart that allow great investors and other people who think clearly to find great business and investment opportunities. So cheers to you for making life easier for the rest of us!!!

petri... wow you've a true buddy in exit2... how's that jew hating class going exit2...
petri.. my three legged chihuahua's left nut sack can give your left brain/right brain a run for its money... and BTW masturbating on canvas and calling it art... doesn't cut it... seriously.. what do you create? and ad? animation? costumes for las vegas? youporn videos of u shaving your nut sack? If your writing is any indication... you probably draw stick figures, no?

exit2.... u uneducated/unlearned/untraveled/unsmart/unrich lady... that's why u don't understand.... you are like an illiterate asking why someone can't write.... did you get that?

julia you can stand behind me.. i'll protect you :)