Moving to a Mansion in Tremont

[Guywithacause]

lol...yes....its funny how quickly the spring up...Hoboken has enough uber trendy thai and sushi restuarants to satisfy all of Chicago...and now there are a slew of trendy restuarant bar and grill types with "american" fare...whatever that is. Either way I like the diversity in restuarants...whats wrong with that? There will always be plenty of chinese putrid take-out, rice and beans joints, fried chicken spots...so why not throw in some more.

Back at the ranch....Alexander's Cafe on Bruckner Boulevard in Mott Haven will be expanding, doubling the size of its dining capacity, adding a bar area, and year round outdoor seating....yay!

[scatman]

Instead of knocking gentrification, understand the truth about it and be able to make it work for you!

[Guywithacause]

Hehe...the ugly gentrification beast that so many unjustly fear is more a problem in every other borough...the Bronx remains on the REVITALIZATION track....the areas is improving WITHOUT the supposedly evil gentrification...how about that!

[Moth]

Originally Posted by scatman

Instead of knocking gentrification, understand the truth about it and be able to make it work for you!

Well it generally does. I would not have lived in Hoboken or Park Slope were the two not the results of gentrification.

[Guywithacause]

Agreed..and those two communities, especially Hoboken, is long past gentrification...the only non-gentrification people there are the people hold up in the housing projects WAY in the back. And now they have built a substantial amount of "luxury" condos directly surrounding these housing projects...and they are selling at ridiculous prices!

But that is for another thread. The Bronx will not see the gnetrification genie any time soon...but it IS seeing massive revitalization, especially in areas closest to the city.

[GottaHaveVision]

Originally Posted by Pete Piper

Interesting article about a couple buying a mansion in Tremont after being priced out of owning a Harlem brownstone. If I remember correctly, the mansion is about 3,300 square feet, cost $675,000 and requires at least $200,000 in repairs. What do people think, are they crazy or visionary?

http://www.nytimes.com/2007/12/27/ga...on&oref=slogin

I'm normally onboard with taking advantage of these deals but 675K for 3300 sq ft plus 200K in upgrades. Wow I think they got had, I mean I know currently of a Brownstone on Clay and 166th (LandMarked) in much better condition and 3791 Sq ft and a little easier neighborhood to digest than East Tremont section and there are other Brownstones on the block that are kept up well by the owners. Only reason I didn't buy the owner wanted an exorbitant 614K and the electrical and other aspects of the home weren't upgraded.

I mean this is a buyers market and I just didn't see the value. But since most of these owners have held these homes since the 70's they have no mortgages and can wait for the market to change. However, more power to the Deans' wish them a lot of success in their endeavor and this defintely helps regarding the economic upgrading of that area just the fact they got an appraisal from the bank for that property.