Quote:
Originally Posted by scatman
I talked to a homeowner I know in Bed-Stuy. He had his brownstone for a good 30 years. I asked him who has "one and two million in cash." He answered in one word: developers!
He says on his block alone, 8 brownstones were sold to developers. The developers, in turn, rent them out to folk who, he says, are not the greatest of neighbors!
Now, don't get me wrong. If, or when, he's ready to sell, he's going to benefit, well! However, he does recognize the fact that the days of down payments in Bed-Stuy, like him and his wife did in the 80s, are long gone!
As someone who grew up in Bed-Stuy, and who was warned of the changes, I'm not suprised of the changes! I am suprised at the extent! (one and two million cash only!)
|
Interesting, I have never heard of that much being offered in cash. I live in Bed-Stuy and hear of $600k at the most. I live in a brownstone and have answered the door to people wanting to buy the house. I am just a tenant, not the landlord, but thank goodness they don't want to sell. I won't find a 1 BR for $1,100 for a long time, unless NYC goes back to the bad ol' days.
The sad thing is that these people moving are NOT the best of neighbors. They don't speak and live in their own little Bed-Stuy bubble. I wonder what block he is on. You have to wonder, can the city sustain itself with such growth. The rents are getting too high and their are not enough high paying jobs to sustain the cost of living, especially in these up and coming neighborhoods.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
