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05-07-2008, 06:12 AM
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Consumed by Darkness
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Join Date: Feb 2008
Location: Here but I spend time There.
1,945 posts, read 1,202,082 times
Reputation: 464
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Another Newark Thread
I was coming from the EWR airport and drove thru newark yesterday and I must say that If I were a single guy all by myself with no kids I would def buy in newark right now. Altough there are areas that are ghetto like, the downtown area around NJPAC and the Ironbound section are still pretty good buys. Now, sure, if you buy in the ghetto don't expect big return on your investment and make sure you buy a bullet proof vest, but wasn't NYC like that back in the 80's (Hello?? calling Mr. Getz!) and look at NYC right now. You have to think long term and as I see it, a 10 to 15 year investment in newark is a risk worth taking.
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05-07-2008, 06:43 AM
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Senior Member
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Join Date: Apr 2008
323 posts, read 376,214 times
Reputation: 66
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I have to agree....although Ironbound is way way too expensive!
Around the arena seems like a good bet...anywhere further north is just too risky
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05-07-2008, 08:10 AM
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Member
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Join Date: Apr 2008
Location: Miami FL and New Jersey
78 posts, read 64,353 times
Reputation: 26
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i would wait another 6-8 yrs lol.. that just me... The new mayor is doing his job though. and it is starting to look alot better!
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05-07-2008, 08:36 AM
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Consumed by Darkness
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Join Date: Feb 2008
Location: Here but I spend time There.
1,945 posts, read 1,202,082 times
Reputation: 464
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Quote:
Originally Posted by doncorleyone
i would wait another 6-8 yrs lol.. that just me... The new mayor is doing his job though. and it is starting to look alot better!
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The time to buy is now, low interest rates, buyers market, undervalue properties, redevelopment and expansion of the business district. I'm telling you, in 15 years the return on your investment will be there. |
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05-07-2008, 08:44 AM
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Senior Member
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Join Date: Oct 2007
Location: philly/nj/nyc
3,299 posts, read 2,528,434 times
Reputation: 805
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i have to say, NJPAC is really impressive
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05-07-2008, 09:00 AM
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Consumed by Darkness
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Join Date: Feb 2008
Location: Here but I spend time There.
1,945 posts, read 1,202,082 times
Reputation: 464
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Quote:
Originally Posted by john_starks
i have to say, NJPAC is really impressive
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Well, that's my point, 15, 20 years ago that whole area was depressive and pretty much run down and look at it now, also around commerce st, broad st, ferry st, the prudential building etc, etc, etc. I don't care what the nay sayers think, Newark will be a hot market in 10 years. |
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05-07-2008, 09:06 AM
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Senior Member
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Join Date: Feb 2008
1,302 posts, read 985,458 times
Reputation: 186
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Wow I forgot all about Bernie Getz.......
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05-07-2008, 09:31 AM
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Consumed by Darkness
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Join Date: Feb 2008
Location: Here but I spend time There.
1,945 posts, read 1,202,082 times
Reputation: 464
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Quote:
Originally Posted by marye711
Wow I forgot all about Bernie Getz.......
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Yeah, how soon do we forget that NYC was not a very nice, liveable area 20 years ago, where a white man was so afraid that he pulled a vigilante move ala Charles Bronson. |
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05-07-2008, 10:02 AM
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Senior Member
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Join Date: Feb 2008
1,302 posts, read 985,458 times
Reputation: 186
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or Son of Sam.......yikes is he still alive in prison or what?
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05-07-2008, 10:20 AM
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Consumed by Darkness
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Join Date: Feb 2008
Location: Here but I spend time There.
1,945 posts, read 1,202,082 times
Reputation: 464
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Mr. Berkowitz aka son of sam is still in prison, Bernie is out & about if I'm not mistaken.
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