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Old 09-26-2014, 08:20 PM
 
286 posts, read 273,968 times
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Quote:
Originally Posted by SeventhFloor View Post
:::sigh:::

You're not getting my point. You're thinking that I'm putting down ENY and it won't gentrify. That is not what I'm trying to say. So let me be clear and concise - the majority of the housing stock available on the market in ENY is not turn-key. That's my point.
What im saying is turn-key isn't what everyone is looking for, if anything there are a lot of people who want an untouched house hopefully with original details that they can renovate to their taste. Gentrification doesn't happen because suddenly there were a ton of newly renovated houses popping up magically. 95% of the now "Hot" neighborhoods were not turn key not too long ago, it took time and interest to get there and it didn't start with high end developers. Theres tons of listings and blog posts of people who purchased wrecks and renovate them into great houses.

I think the Brooklyn brand and the dream of living in a historic Brooklyn home for some people will drive them to look into ENY, turn-key or not. I also see a lot of people frustrated with being outbid/priced out of other neighborhoods who will probably take a chance on ENY, since it's cheaper and the trend makes it look like in the long run it will pay off.
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Old 09-26-2014, 09:02 PM
 
Location: Confines of the 101 Precinct
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Quote:
Originally Posted by colombianbeef View Post
What im saying is turn-key isn't what everyone is looking for, if anything there are a lot of people who want an untouched house hopefully with original details that they can renovate to their taste. Gentrification doesn't happen because suddenly there were a ton of newly renovated houses popping up magically. 95% of the now "Hot" neighborhoods were not turn key not too long ago, it took time and interest to get there and it didn't start with high end developers. Theres tons of listings and blog posts of people who purchased wrecks and renovate them into great houses.

I think the Brooklyn brand and the dream of living in a historic Brooklyn home for some people will drive them to look into ENY, turn-key or not. I also see a lot of people frustrated with being outbid/priced out of other neighborhoods who will probably take a chance on ENY, since it's cheaper and the trend makes it look like in the long run it will pay off.
We will see what happens. Bed-Stuy will fully gentrify like Park Slope in another 20-30 years, ENY another 40-50.
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Old 09-27-2014, 05:57 AM
 
10,630 posts, read 8,512,144 times
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Quote:
Originally Posted by SeventhFloor View Post
:::sigh:::

You're not getting my point. You're thinking that I'm putting down ENY and it won't gentrify. That is not what I'm trying to say. So let me be clear and concise - the majority of the housing stock available on the market in ENY is not turn-key. That's my point.
Same goes for Ridgewood and Bushwick, yet both are attracting buyers more than anywhere else in the city right now. When I was house hunting I saw some real rundown places around here. Nevertheless they all sold. So I do think people will pay to fix up the old homes. That's not ENYs problem. Problem is much more than just that.

Ridgewood, Queens, a.k.a. ‘Quooklyn’ Sees Surge in Property Sales | New York Observer

Ridgewood Commercial Sales | Bushwick Condominiums
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Old 09-27-2014, 10:30 AM
 
Location: Somewhere....
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I think in the next 5 years we will see a huge difference in Bed Stuy and Bushwick, another 10 years it will be completely 'taken over'. The G-Bomb has been aggressive and continuous. Look at Williamsburg, 10 years or so later and it's on the 'clean sweeping' phase.

East New York is another story, terrible reputation, not as attractive as Bed Stuy or even Bushwick, not close to DTBK the Financial District and Midtown. Lot's of infill in ENY too. If I can roll my dice, I say the areas north of Pitkin Ave and south of Atlantic Ave may get some new comers some years down the line. This may occur when the Broadway Junction is redeveloped and spill over from neighborhing Bed-Stuy, Ocean Hill and Bushwick occurs, and whatever is going to happen to Cypress Hills too.
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Old 10-06-2014, 04:14 PM
 
286 posts, read 273,968 times
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Quote:
Originally Posted by SeventhFloor View Post
We will see what happens. Bed-Stuy will fully gentrify like Park Slope in another 20-30 years, ENY another 40-50.
Realistically the Park Slope bar is way too high for Bed-Stuy and ENY,the west end of Bed-Stuy maybe (Stuyvesant Heights). At best ENY can become the "poor man's" Park Slope/Fort Greene more like what Bay Ridge is today(true stable middle class), we would have to see a lot of the "less desirable" structures/land in the area turned into apartment buildings/retail and a lot of the townhomes would have to be converted back to 1 family to shrink the housing stock much like what is happening in Bed-Stuy, Clinton Hill and Park Slope. It took Park Slope 20 years to fully gentrify but that was a different kind of gentrification (brownstone restoration) and Brooklyn didn't= $$ back in those days. We have rapid gentrification now driven by developers/investors so maybe not 40-50 but I can see 10-15 if rezoning goes right.

What could be a huge push is if enough high paying companies start locating in offices in downtown Brooklyn and nearby areas. Brooklyn would have to become a huge jobs center(very slowly becoming), which means we would have to start building more office space and not focus on luxury condos in downtown BK. Once that gets to that level then it will raise property values in the eastern half since you will have a short commute to well paying jobs, but by then Park Slope will be like Gramercy Park so the bar will always be just too high for us.
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Old 10-06-2014, 05:17 PM
 
Location: Confines of the 101 Precinct
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Quote:
Originally Posted by colombianbeef View Post
Realistically the Park Slope bar is way too high for Bed-Stuy and ENY,the west end of Bed-Stuy maybe (Stuyvesant Heights). At best ENY can become the "poor man's" Park Slope/Fort Greene more like what Bay Ridge is today(true stable middle class), we would have to see a lot of the "less desirable" structures/land in the area turned into apartment buildings/retail and a lot of the townhomes would have to be converted back to 1 family to shrink the housing stock much like what is happening in Bed-Stuy, Clinton Hill and Park Slope. It took Park Slope 20 years to fully gentrify but that was a different kind of gentrification (brownstone restoration) and Brooklyn didn't= $$ back in those days. We have rapid gentrification now driven by developers/investors so maybe not 40-50 but I can see 10-15 if rezoning goes right.

What could be a huge push is if enough high paying companies start locating in offices in downtown Brooklyn and nearby areas. Brooklyn would have to become a huge jobs center(very slowly becoming), which means we would have to start building more office space and not focus on luxury condos in downtown BK. Once that gets to that level then it will raise property values in the eastern half since you will have a short commute to well paying jobs, but by then Park Slope will be like Gramercy Park so the bar will always be just too high for us.
I agree with this. Just not the time frame, but I agree with everything else.
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Old 10-07-2014, 06:35 PM
 
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Originally Posted by SeventhFloor View Post
I agree with this. Just not the time frame, but I agree with everything else.
My only reason for my shorter time frame is because it seems the city is actively trying to get ahead of the ball, usually they are late or too slow to see what's coming. They are pushing rezoning, and easing restrictions on self-certification all under the smokescreen of "Affordable Housing", theres already land speculation around Broadway Junction tripling prices on available lots. It used to happen more organically with spill over of Hipsters then the developers move in after a phase or two of "Change", so I think we'll see things happen a bit quicker than before although less organically.

The city did something similar with the South Bronx where they rezoned and allowed a ton of apartment buildings built quickly within a 5 year period, with mixed results but I think it'll work better in ENY since they are catering to a higher earning demographic. Will this approach actually work? only time will tell.
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Old 10-07-2014, 06:56 PM
 
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I wonder what'll happen to ENY's neighbor, Brownsville... lol

I've seen construction going on on some abandoned houses, but other than that this places is a joke...
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Old 10-08-2014, 07:06 PM
 
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Originally Posted by Railman96 View Post
I wonder what'll happen to ENY's neighbor, Brownsville... lol

I've seen construction going on on some abandoned houses, but other than that this places is a joke...
The north/northwest portion between Atlantic ave and E New York ave. might see some change if the DiBlasio Rezoning encompasses the area west of the L train and since it's a couple of blocks from the A on Fulton st. it might get some spill over from Bed-Stuy and bordering Crown Heights, this is where the majority of the historic houses are still standing but you have to cross Atlantic ave. to get to the train or go south a number of blocks to reach the 2/5 trains on Livonia ave..

Even though the only train in the neighborhood is on Livonia ave,(2/5) once you get south of Eastern Parkway it's blocks and blocks of cheapy-ugly 90's-00's construction that filled in all the empty lots. The eastern half starting at Rockaway ave. is almost end to end housing projects from E New York ave. south to Livonia ave. There are some blocks of quieter 1930's style houses in the south west section but these aren't as sought after as much as houses built pre-WWI which are mainly in the north western section of the neighborhood. The L train does run along the border with ENY but again it's blocks and blocks of housing projects.

Unless developers buy up all the cheapo 90's construction lots to build tall apartment buildings that land will sit underutilized. I just don't see as much potential in Brownsville as I do in other areas like northern & Western East Flatbush, Cypress Hills and Ocean Hill.
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Old 10-08-2014, 09:17 PM
 
Location: Confines of the 101 Precinct
19,561 posts, read 34,647,015 times
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Quote:
Originally Posted by colombianbeef View Post
The north/northwest portion between Atlantic ave and E New York ave. might see some change if the DiBlasio Rezoning encompasses the area west of the L train and since it's a couple of blocks from the A on Fulton st. it might get some spill over from Bed-Stuy and bordering Crown Heights, this is where the majority of the historic houses are still standing but you have to cross Atlantic ave. to get to the train or go south a number of blocks to reach the(3/4) trains on Livonia ave..

Even though the only train in the neighborhood is on Livonia ave,(3/4) once you get south of Eastern Parkway it's blocks and blocks of cheapy-ugly 90's-00's construction that filled in all the empty lots. The eastern half starting at Rockaway ave. is almost end to end housing projects from E New York ave. south to Livonia ave. There are some blocks of quieter 1930's style houses in the south west section but these aren't as sought after as much as houses built pre-WWI which are mainly in the north western section of the neighborhood. The L train does run along the border with ENY but again it's blocks and blocks of housing projects.

Unless developers buy up all the cheapo 90's construction lots to build tall apartment buildings that land will sit underutilized. I just don't see as much potential in Brownsville as I do in other areas like northern & Western East Flatbush, Cypress Hills and Ocean Hill.
Fixed.
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