Williamsburg

You mean you will buy now? I am also interested in buying in Wmburb, but my perception is that with several developments underway that there is a chance of very large downside movements, as developers at some point cave in to reality and realize they simply cannot sell enough units without discounting prices, which probably means , in effect, bankruptcy of the development (or renegotiating terms of financing for the project)....

Shopbillyburg, how long of a wait is The Edge? Also, are there any price drops or incentives?

Shopbillyburg,

shopbillyburg, we have gone to all those locations you want to visit. The rialto and Warehouse 11 came on the top. The rialto's location is the best. we are going to pick one from those two. Good luck.

Seriously? Buying today? Please go to the times website and read about everyone losing their deposits on new construction. Who cares if you can afford it? No one else can qualify for a mortgage. Prices have to fall to a level where banks would lend. Buying now would be....I'm going to be nice nice and just say don't.

When most people say " don't", I know it time for me to do it. I have not made any BIG mistake in my life yet just by following this principal. Any way, everyone's story is different for sure.

You might want to check out 72 Berry, which is one of the newer ones on the market. Good luck.

What about 101 North 5th Street? They have led some cuts and the location is good. Other than that it seem most of the new developments comps around the bedford L have been mentioned. If you're worried about losing your deposit maybe also take a look at nforth. Let us know what you think after your visit!

during excavation of the lot that warehouse 11 was built on, reports of oil oozing from ground. google it.

nycnewbie,

is correct this happened in Nov 2007. How is this significant?

have u seen the price of crude lately? obviously, the plot of land that warehouse 11 sits on is not worth the money it once was!

lol.

NY77,

I'm all for being a contrarian, but you're a bit early in buying on the dip. If you were to buy into new construction, see how the new fannie rules affect who will lend you money. Many banks refuse to lend over conforming, so watch out. I don't need to bring up todays cover story in the times real estate section to reinforce my point.

I just moved into new dev in e. wburg. Surprising downside is that the flight path to laguardia is in my view. Moved from the northside where I didn't know how good I had it vis-a-vis plane traffic. So far, pretty much what I expected: quiet but charming with good, if fewer, restaurants and bars. Much more "Authentic Brooklyn" than around the Bedford L.

djradon,

e. wburg aka industrial wburg aka bushwick in a nutshell, I could of warned you of being in the flight path to lga its a lot better then it was back when eastern airlines were around LOL. Congrats to you in your new home. fewer restaurants and bars mean you can venture out of your immediate area more often. Don't forget Bedford Ave is PRIME wburg thats the reason why its not authentic BrookNon but its still Brooklyn.

Shopbillyburg: I suggest 80 Metropolitan. It's a completely different product than anything else in N. Williamsburg - all brick, quality construction, timeless. Only issue is that the properties are somewhat pricey with high maintenance. Good luck.

I've been looking too -- won't buy until I sell what I'm in now, but then can go all-cash. I like 80 Met. The quality looks better. At some of the others, the floorboards have gaps! Can't live with the non-kitchen at 125 10th -- no place for pots and pans, not to mention Costco purchases. Haven't seen Warehouse 11 - will check it out.

OMG, Shopbillyburg, look at this: http://curbed.com/tags/warehouse-11

I would be very careful before buying in Warehouse 11. There's a thread on this particular building: http://www.streeteasy.com/nyc/talk/discussion/2969-warehouse-11

I'll second the 80 Met recommendation, though it is among the more expensive buildings in the area. The tax abatement is 25 years though, which is mostly a good thing. In general, northside buildings with 25-100 units that already have a C of O and 50+% sold are your best bets. Nearly anything else carries a whole lot of risk, at least until there are clear signs of recovery in the market (it'll be a while).

1) my first option is The Edge, best amenities ever seen
2) NorthSidePier, the second tower will take forever to be finished, maybe 4 years?
3) Be careful! OneBrooklynBridge didn't sell any unit in the last 12 (yes, twelve!) months
4) prices have to go down at least 20% more
5) wait until October 09

hjf200074,

"2) NorthSidePier, the second tower will take forever to be finished, maybe 4 years?"

If true, this is a plan, the developers of NSP formulated* in 4 years the economy will rebound and RE will skyrocket again to create an additional housing boom.

The second Northside Piers tower is actually coming up rather quickly. It's probably ahead of the Edge in terms of construction. I know they planned on eventually building a third tower (yikes) though I would imagine those plans aren't nearly as firm anymore.

hjf200074, what will happen in October? I think the point is to get the best deal you can, and I don't see that necessarily tied to a particular event that may happen.

bjw2103, do you have any idea if there are delays at The Edge? Last I heard they were looking at fall closings.

ingenieur,

Just given where construction is at this point, I have a hard time seeing them finish construction and getting the C of O in time for closings to start by the fall. They would really have to ramp things up for that to happen. I don't have any inside info though, so that may well be the plan.

I was looking to buy w'burg as well but have opted to rent in Greenpoint for one year. At the Viridian which was a condo gone bankrupt. The 1 bdrs are 700 sq ft and well appointed. 2 bdrs not much bigger and kind of boxy. They threw
in washer/dryer, free parking, free storage and lots of amenities(heated 75' lap pool, steam, sauna, gym). Personally I would not buy a condo with all these expensive amenities. They upkeep will ensure spiraling common charges. That was my biggest rap against The Edge. Plus the pretentious sales staff. I liked Warehouse 11 but am concerned about the few closings there. Also love 20 Bayard. I think waiting one year will give some clarity to this market. Right now it is completely illiquid. Don't be lulled by the nice bear market rally in the stock market. If you remember 1987 market crash we rebounded pretty quickly off the lows. But the RE market fell over the next 5 years.

cfranch,

How occupied is the Viridian right now? Curious to know what's really happening there given their issues. Getting all those extras thrown in is pretty nice (esp the w/d and parking/storage if you really need them). I agree about buildings with too many amenities (video game rooms?) - it's a waste. As for the stock market, I'm still amazed that people try to draw so many comparisons. Too many differences to make any meaningful connections.

Cfranch. I agree about amenities. Personally I would like a pool, but I worry about paying for a lot of trivial stuff don't care much about, because the important thing is my own apartment. NYC is so screwed up with unions and various rules that unfortunately amenities cost a lot more than in other cities,whichis too bad,but a fact of life.

FYI!

http://www.brownstoner.com/brownstoner/archives/2009/03/20_bayards_been.php

http://curbed.com/archives/2009/03/27/another_schaefer_landing_short_sale_hits_market.php

I don't mean to doom and gloom but it is what it is.

anything in north williamsburg is a better bet than schaefer landing because of schools, amenities, convenience to the city and it's a safe precinct. sure that many apts in schaefer landing have killer views tho.

wisco

North, south, east & west they are all in the same sinking boat.

What about 72 Berry? Anyone has an opinion

"North, south, east & west they are all in the same sinking boat."

Generally speaking, you're right, but northside is still a much safer bet than anything south of Broadway.

People are scheduled to move into the Viridian April 1st. Been checking on the building periodically and work is moving along. When I first looked at building I also checked out 305 Mcguinness. Nice apartments but the neighborhood not so nice and nothing but views of gas stations. Citi-spaces represented both buildings. The broker at 305 told us that if the Viridian did not rent 10 apts that weekend the bank would seize them. I went back to the Viridian and told the broker this story. He told me what I already knew-building had been in bankrupcy already and the rental quota was a fallacy. Also the lead broker at 305, Clarence, was right out of central casting. Insisted I write out a check for $1000 on the spot to reserve apt I was interested in as "we have lots of people interested" and "this is our second open house and we are nearly rented out". Of course these were bald faced lies. The next week I saw many of the units on craigslist lowered in price.

also agree that north willy/greenpoint is the place to be. yes i am very bearish on RE but one can see the potential here, many gorgeous old factory building dying to be renovated. i biked out to greenpoint from Manhattan and while crossing the Pulaski bridge one could see what NW Greenpoint could become. The waterfront, with its spectacular views of Manhattan, is where I would want to be. we are years away from that however. got get rid of all this inventory piling up and get employment back up. But I would be willing to plunge in 1 or 2 years in some new development here.

How can be "all in the same sinking boat" when we have:
1) one stop to downtown manhattan
2) terrific views
3) more sqf2
4) a quite and nice area
5) a new development

?

those all are facts!

I'm sure folks were discussing how well the Titanic was made as it sunk, too... but doesn't mean it didn't sink.

You missing things like, oh, 37% price cuts?

http://www.crainsnewyork.com/article/20090227/FREE/902279983

I think most agree that price per f2 has room to fall in all boroughs. What's interesting to me is that with the number of new developments and units not filled, why more developers haven't followed suit. I would imagine WB would be a leader in marking prices down. There was a post once about how marking prices down would somehow cause issues with the lender/speed possible foreclosure, though I don't know exactly how that math works. I would appreciate if the developers would send me their cash flow and p/l worksheets if they are reading this :D

also, anyone know how to assess risk of a new development going rental - what factors developers look at to choose that course of action rather than holding out until foreclosure? I think people interested in new developments need to get educated about these issues and not be stuck holding the bag.

"Generally speaking, you're right, but northside is still a much safer bet than anything south of Broadway."

"Maybe true" but crime stats pertain to the entire neighborhood and not broken down by sections within Da Burg.

nyc10022,

I read that article in disgust.

http://www.44berry.com/

Nice pictorial history of W'Burg.

Is 44 Berry new to the market, I see lots of listing on CL.

""Maybe true" but crime stats pertain to the entire neighborhood and not broken down by sections within Da Burg."

Actually mutombo, that's not true. Northside Williamsburg is part of the 94th Precinct with Greenpoint, and crime is very low. Southside and South Williamsburg are part of the 90th Precinct, which has worse stats.

44 Berry is a conversion rental building; I think it's officially just come on the market recently. Nice location, seems like a good building, no idea on asking rents though.

Correct,

GP & WB cross boundaries re: police precincts, like WB and Bed-Stuy 90th precinct. Crime is lower in GP than in WB. Crime is tallied by the precinct in the area it covers.

Yes, that's why it's a little tough to talk about crime stats here, because almost no one calls this part of town Greenpoint.

94th is the one that had all the recent high-profile violence.... 3 shootings and a string of burglaries in just a few weeks.

In comparison too WillyB & Bed-Stuy. WillyB is known as 11211 but 11206 is WillyB also. Sections of Bed-Stuy are 11206 and some landlords call it WB for RE purposes. Another example the post office on the corner of Varick & King is labeled West Village P.O. but that area is called and known as SOHO.

i always thought soho's west divider was 6th avenue

via wikipedia:
Soho is bounded roughly by Houston Street on the north, Lafayette Street on the east, Canal Street on the south, and 6th Avenue (Avenue of the Americas) on the west.

94th is very safe, actually. The stats are there: http://www.nyc.gov/html/nypd/downloads/pdf/crime_statistics/cs094pct.pdf

What people traditionally think of as Soho is where all the cast-iron buildings are. Those pretty much end at West Broadway, though most people call what's west of there Soho now anyway, all the way up to the river essentially, even though it's a very different feel.

I know GP. You know how RE agents add on to neighborhoods. SOBs say they are located in SOHO but according to jasonkyle wiki search Varick & King are not in SOHO go figure.

the soho hstoric district ends at west broadway. that is a fact. don't even need a search for that.
regardless you van call king and varick soho if you want but i grew up here and we never called it that
curbed has been trying to rename it hudson square for awhile yet but some other people want lower west side
they both kind of stink in my opinion.

i am all for making neighborhoods smaller and forcing real estate agents to correctly term them
especially 50 franklin which is in "tribeca" according to their materials although it is clearly in CHINATOWN

I hear you jasonkyle, though it doesn't bother me so much. If you're going to buy such expensive real estate, you owe it to yourself to do the due diligence and really get to know the neighborhood first. I don't really care what you call it. You're right that the Soho historic district ends at W Broadway (what I was trying to say about the cast-iron buildings), and I've heard some call the Thompson/Sullivan/MacDougal area the South Village, but all this wrangling over neighborhood names gets a bit silly after a while anyway. In most cases, they're just semi-practical placemarkers, no? Few of them have a hard-wired cultural uniqueness anymore, I feel.

JK,

I agree with you.

> 94th is very safe

2 murders in 3 months is "very safe"?

sorry if i sounded all ranty. i had a moment :)

nyc10022, I know you're somewhat terrified of McCarren Park, but the 94th Precinct is indeed very safe. Look at the actual stats and track record. There's no way that becomes the trend, and as any statistician would tell you, that's a horrible sample size to make a judgment call.

jasonkyle, don't let shady real estate people get you down!

"If you're going to buy such expensive real estate, you owe it to yourself to do the due diligence and really get to know the neighborhood first."

Should not only apply to expensive RE should apply too anyone making the investment of mortgaging a new home which is a place to live.

"but all this wrangling over neighborhood names gets a bit silly after a while anyway."

I disagree with this. Don't say you live in W'burg and physically live in B'wich.

the moment one starts making distinctions, one is forced to choose. choice is an illusion. it is a preference. it is dictated by cultural influences: your background, education, life experience, streeteasy posts. once you think you made a choice, you feel you have to defend it. like defending your individuality, your separate existence. when all a preference does is limit you in what you experience. when the truth is we are all love. we are all one. ohm...

Anyways, W'burg is different than B'wick. Damn straight...

"If you're going to buy such expensive real estate, you owe it to yourself to do the due diligence and really get to know the neighborhood first."

Or, well, the real estate market in general.

Looking at every nook and cranny of the neighborhood and completely missing the pop of the biggest RE bubble in history (with ground zero right here)... deck chairs... titanic.

Getting the neighborhood "wrong" in relative terms is nothing compared to the overall market effect.

"I disagree with this. Don't say you live in W'burg and physically live in B'wich."

Does it really matter that much? If it makes someone happy to say they live in WB, I'm not going to expend that much energy to change their mind.

"Should not only apply to expensive RE should apply too anyone making the investment of mortgaging a new home which is a place to live."

Isn't that almost exactly what I said?

"Looking at every nook and cranny of the neighborhood and completely missing the pop of the biggest RE bubble in history (with ground zero right here)... deck chairs... titanic."

Agreed, but this is not really what we're discussing here.

Once again, hall monitor here to tell us what we're allowed to discuss... and once again being WRONG about it, too.

"You mean you will buy now? I am also interested in buying in Wmburb, but my perception is that with several developments underway that there is a chance of very large downside movements, as developers at some point cave in to reality and realize they simply cannot sell enough units without discounting prices, which probably means , in effect, bankruptcy of the development (or renegotiating terms of financing for the project)...."

Its the second post.

And bjw complains about OTHER people wasting space on threads...

bjw2103,

You do care about what the neighborhood is called as you separate the North and South sides of W'Burg every chance you get. I.E. Schaefer Landing (SL) SS from Northside Pier (NSP) NS.

If you don't live in W'Burg don't say you do, when ppl say this I view them as having McDonald's money and want to eat @ Peter Luger's.

LOL @ the hall monitor.

"You do care about what the neighborhood is called as you separate the North and South sides of W'Burg every chance you get. I.E. Schaefer Landing (SL) SS from Northside Pier (NSP) NS. "

Excellent point on the hypocrisy...

freewilly,

B'wich is different from Bed-Stuy.

"as developers at some point cave in to reality and realize they simply cannot sell enough units without discounting prices, which probably means , in effect, bankruptcy of the development (or renegotiating terms of financing for the project)...."

It'd be interesting to get a handle on how much current developers CAN discount prices. Anyone know what buildings have gone into bankrupcy? I remember there was factory lofts - and the last listings were still over $600/f2

edit: what other buildings if any.

The Virdian went bankrupt.

I believe The Edge is on the edge oops verge of going bankrupt.

Update on Viridian:

Not renting there. The few people who did purchase are suing to prevent building from going rental. This can go on for many months. All work seems to have stopped on the building.

So put me in the "looking to buy" category in 8 months. W'burg/Greenpoint is still where we want to be. Developers prices still way to optimistic bordering on fantasy. $400-$450/sq ft is where we bottom and I expect no decent increase in value for several years.

The "owners" of the V will lose if they pursue legal actions against the V for going rental.

So when they're asking $$$ at 80 Met or NSP, will the asking ever come down or is it all negotiation? I understood that they can't lower the ask below what they've promised their lender.

The listings for Viridian are still up - I wonder if they are still selling units to unsuspecting victims. I think they should at least throw in a trip to Italy:

http://thedevelopersgroup.com/buildings/buildinglisting.aspx?page=2&

"Buy at Rialto and Vacation at Rialto in Venice Italy! For the month of April, we are happy to offer buyers at the Rialto a roundtrip for two for 6 days and 5 nights at the Rialto Bridge in Venice, Italy. *All contracts must be signed within two weeks of purchase. * This offer does not include taxes. Travel must be between 6/1/09 and 10/31/09."

the viridian is padlocked. i actually think the early adopters want their money back and the developer is refusing. he has to relent or risk bankrupcy again.

Offering an Int'l trip/vacation an insult too my intelligence when the mortgage is more then the property is worth.

If the developers of The Virdian are bankrupt they do not have to return any money to early adopters sad but true. LOL @ the padlock this is becoming more interesting.

"If you're going to buy such expensive real estate, you owe it to yourself to do the due diligence and really get to know the neighborhood first."

"Should not only apply to expensive RE should apply too anyone making the investment of mortgaging a new home which is a place to live."

"Isn't that almost exactly what I said?"

No, its not almost exactly what you said your keywork Expensive.

"You do care about what the neighborhood is called as you separate the North and South sides of W'Burg every chance you get. I.E. Schaefer Landing (SL) SS from Northside Pier (NSP) NS.
If you don't live in W'Burg don't say you do, when ppl say this I view them as having McDonald's money and want to eat @ Peter Luger's."

As I said in the other thread, I don't care what people call the neighborhood so much, but I will respond when people make generalizations or post things that are incorrect. All these names are just designations, so there's bound to be some gray area. I mean, would you say all the UWS is the same throughout? Of course not. Same goes for Williamsburg. Your love of nyc10022 is amusing however. Hope you guys finally have that dinner date!

"I believe The Edge is on the edge oops verge of going bankrupt."

Based on what exactly? The "laws of nature"?

"So when they're asking $$$ at 80 Met or NSP, will the asking ever come down or is it all negotiation?"

Both have happened. They've lowered prices a bit at a few units in 80 Met, and much more at the first NSP tower. They might posture as if there's no negotiation room there, but I'm sure that's not the case, especially if you're a clearly qualified buyer. Don't be afraid to be aggressive with these guys! There will be units available in these buildings for quite some time, I think.

"No, its not almost exactly what you said your keywork Expensive."

Ok, let us know when you find real estate in this city that isn't expensive then.

"As I said in the other thread, I don't care what people call the neighborhood so much, but I will respond when people make generalizations or post things that are incorrect. All these names are just designations, so there's bound to be some gray area. I mean, would you say all the UWS is the same throughout? Of course not. Same goes for Williamsburg."

Another keyword "so much" you are the biggest hypocrite on SE, I'm consistent for my cause and so is nyc10022. All neighborhoods are set by boundaries aka geographically if you live in B'wich you live in B'wich. If you live in B*Stuy you live in B*Stuy. The two neighborhoods geographically cannot overlap. Like jasonkyle said Varick & King is not SOHO and he's correct and that can't be disputed and if you do dispute that your an ass. Its almost like telling someone on a plane sitting in economy they are sitting in 1st or business class.

As I said before every opportunity you get you separate the North & South side of W'burg. In addition to the above statement, every opportunity you get you make it a point to separate police precincts that service north and south W'burg(94th & 90th precinct) because you know where you hold a mortgage and as I said before crime and RE go hand in hand the more crime the lower the property value as per the stats you posted crime is higher in south burg than in north burg.

"I believe The Edge is on the edge oops verge of going bankrupt."

"Based on what exactly? The "laws of nature"?"

You are damn skippy The Laws of Nature which will always prevail. An open house/party, when it looks like the majority of ppl are there for happy hour. If sales and/or rentals increase by 3% at The Edge after this past weekend I will retract my statement, until then desperate times calls for desperate measures.

"Ok, let us know when you find real estate in this city that isn't expensive then."

Are you serious? You know what you were saying and were not making a generalized statement on keyword "expensive" cut the crap.

Right on, mutombo.

Bjw's definitions of what is "important" and "relevant" change considerably depending on whether or not the facts support his agenda or not.

bjw2103,

He's an open book test. I see why you call him the hall monitor. LOL.

Adding too bjw2103 hypocrisy,

wisco - anything in north williamsburg is a better bet than schaefer landing because of schools, amenities, convenience to the city and it's a safe precinct. sure that many apts in schaefer landing have killer views tho.

mutombonyc - wisco

North, south, east & west they are all in the same sinking boat.

bjw2103 - "North, south, east & west they are all in the same sinking boat."

Generally speaking, you're right, but northside is still a much safer bet than anything south of Broadway.

Taken from this very thread, I can't make this up.

freewilly & SE,

Da Burg is officially under water. This is an all time low an adding insult too injury.

http://curbed.com/archives/2009/04/07/adventures_in_marketing_buy_in_billyburg_venture_to_venice.php#reader_comments

"Another keyword "so much" you are the biggest hypocrite on SE, I'm consistent for my cause and so is nyc10022. All neighborhoods are set by boundaries aka geographically if you live in B'wich you live in B'wich. If you live in B*Stuy you live in B*Stuy. The two neighborhoods geographically cannot overlap. Like jasonkyle said Varick & King is not SOHO and he's correct and that can't be disputed and if you do dispute that your an ass. Its almost like telling someone on a plane sitting in economy they are sitting in 1st or business class."

Ok, well you can choose to get all riled up over neighborhood names. I just choose not to, even though your analogy isn't really applicable.

"You are damn skippy The Laws of Nature which will always prevail."

Ok, I thought we were having a quasi-serious discussion here. Didn't know that mystical platitudes were the goal here - my fault.

"As I said before every opportunity you get you separate the North & South side of W'burg. In addition to the above statement, every opportunity you get you make it a point to separate police precincts that service north and south W'burg(94th & 90th precinct)"

Look, in one case you're talking about actual reported stats, and in the other about real estate brokers playing loose with neighborhood boundaries. Two very different things - I don't really care what the brokers say/do, but I do care where someone makes generalizations about crime stats and things that actually matter.

"Generally speaking, you're right, but northside is still a much safer bet than anything south of Broadway.
Taken from this very thread, I can't make this up."

mutombo, explain how that's hypocritical. I'm not sure you understood what I meant, so maybe I can clear it up. I do think there's downward pressure on real estate everywhere in the city. No doubt about that, in my mind. But I don't think you can generalize and say everything will suffer equally. Certain areas and buildings will do better than others, and I happen to think the northside will hold up much better than anything in WB.

"Da Burg is officially under water. This is an all time low an adding insult too injury."

Exactly the kind of unfounded, exaggerated comment that I think isn't particularly helpful. Underwater? Do you know what that actually means? This is obviously a pretty poor marketing idea, but I don't see how that makes anything "official."

"Look, in one case you're talking about actual reported stats, and in the other about real estate brokers playing loose with neighborhood boundaries. Two very different things - I don't really care what the brokers say/do, but I do care where someone makes generalizations about crime stats and things that actually matter."

bjw2103,

You can't be that clueless. Yet another frivolous post by you.

mutombo, do you have anything to say, or are you just going to throw empty words (as you might say, frivolities?) out there? It has been fun "messing" with you though.

bjw2103,

If you lived and were holding a mortgage in B'wich you would believe the grass is greener in B'wich than in W'Burg. You are the kind of person who will cut off the nose in spite the face. I remember when we started to disagree on this discussion board, you stated you did not know if your property gained, lost or maintained value as you did not try to sell your property. Now you are admitting your property lost value but do so by saying all properties in NYC have lost value. You are the same person who said you don't buy into the collective or general market then make collective and general statements. I exposed you in a hypocrital statement made by you, I can't make this stuff up.

When stats don't benefit you like nyc100022 so eloquently stated you refute it. You are biased as you know where you hold a mortgage, if someone such as myself makes a negative statement assumed by you about the Northside of W'burg your on it if someone makes a negative statement about the Southside of W'burg you agree with it why is this so. You are maintaining if the Northside crime don't spike your property value will not decline as much, WRONG, the NS is flooded with plenty of supply and little to no demand as its not affordable in this uncertain market and this scares you. As I said before and stand by your a flipper a sole invester and went for Bloombergism bet you won't trust a billionaire again. You talk about stats but never talk about the laws of supply and demand which will always apply and when they don't we have a crisis.

bjw2103,

Give us your baised definition of underwater?

"If you lived and were holding a mortgage in B'wich you would believe the grass is greener in B'wich than in W'Burg"

mutombo, here's what I think you're losing sight of: I don't think the "grass is greener" in northside Williamsburg than in Bushwick because I bought there; rather, I bought there because I think the grass is indeed "greener" there. That's actually a huge difference. You can make all the personal judgments of me you want, but fact is, you're doing it over the internet with very limited info, so I'd be careful. You seem intent on convincing me that I've lost money and calling me a flipper without being able to even remotely prove either. I do think it's fair to say that there's been downward pressure on the real estate market here, but that's a very different statement than talking about individual apartments or even buildings, especially when you don't know prices paid. I think I've been pretty honest about the pros and cons of living and/or buying in this area, and have never urged anyone to buy or not to buy, whereas you prefer to post sweeping generalizations and exaggerated black/white statements. I don't find the latter particularly useful.

And yes, I'll vote for Bloomberg again.

bjw2103,

"here's what I think you're losing sight of: I don't think the "grass is greener" in northside Williamsburg than in Bushwick because I bought there; rather, I bought there because I think the grass is indeed "greener" there."

You missed the analogy and have poor comprehension skills.

"You seem intent on convincing me that I've lost money and calling me a flipper without being able to even remotely prove either."

I do think there's downward pressure on real estate everywhere in the city. There goes the hypocrisy.