Williamsburg/Greenpoint

I share your concern. There is a lot of 'brown space' awaiting development, and lots of crumby homes that should be torn down for new development.

In areas with ‘infinite land’ (e.g., Fort Wayne, IN) house prices don’t appreciate; no one wants to but a “used house” when they can get a new house for $140K just 2 miles away.

While Greenpoint has little in common with Fort Wayne, the relatively unlimited development potential, combined with (relatively) poor access to the subway has me worried. If NYC continues to do well, then so (I believe) will Greenpoint. But if global competition for capital markets takes 50% of Wall Streets business, or the US economy takes a significant downturn, I can easily imagine a glut of new units available at builder’s cost – where no one wants your “used unit” (“what – no built-in flat-panel TVs??”) except at a 25% discount.

Waiting for 8 years for prices to recovery (as after 1985 housing collapse) may not be an option.

Transportation sucks. Some areas are heavilly polluted too. I certainly wouldn't buy there.

I absolutely believe in good Manhattan real estate, but that Greenpoint shit's gonna take a hard hit for sure.

Transportation is the main issue in Greenpoint (and to a lesser extent, Williamsburg). While prices may keep going up, you're going to find these areas being rivalled by Long Island City or upper Manhattan (ie Harlem and above) which also have lots of new condo developments but better transportation.

This is rarely mentioned about Billyburg, but I've found it to be true--the area is hotter, I mean temperature wise, than other areas. So what, you say, but I go there for the night scene and as I drive there I watch the outdoor temp go up and up (have gauge in car). The area gets no breeze and a tree grows in Brooklyn, but not too many there.

Anyone have an opinion on DUMBO? I don't mind beings a bit of an 'urban pioneer', but would like to be able to get into Manhattan in less than 12 hours! (I have heard nothing good about the G train.)

If you can walk in (as a last resort), then it seems to me that the area should better track Manhattan prices, but with a ‘Brooklyn discount’.

who would want to spend all that money for a home in an area that has one of the highes asma rates in newyork and the countrie, not to mention the 17 million gallon oil spill creeping into the basements in greenpoint and williamsburg, and the heavily polluting industries that left there marks in the soil. where are they going to build the NYU dorms on some toxic lot?
GOOGLE it TOXIC BROOKLYN, it's mind boggling...