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Old 05-30-2015, 09:04 PM
 
Location: Gods country
5,337 posts, read 4,014,186 times
Reputation: 7391

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Quote:
Originally Posted by NOLA101 View Post
Wow, good for you. I'm jealous!
Don't be jealous...buy in ENY.
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Old 05-30-2015, 09:50 PM
 
Location: Earth
3,519 posts, read 2,534,389 times
Reputation: 2575
De blasio lied again! He promised to end gentrification and make more ghettos!
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Old 05-30-2015, 11:20 PM
 
Location: NYC
11,832 posts, read 7,714,980 times
Reputation: 12814
Quote:
Originally Posted by Above Average Bear View Post
I bought my place in Stuy Heights in 04 for 420K, just sold it for 1.825.
That's pretty typical, my father in law bought a building for $500k back in 02' in Bklyn and sold for $1.5mil 3 years ago. That build got converted to some gentrifiers' special condo.
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Old 05-31-2015, 11:44 AM
 
Location: Somewhere....
1,155 posts, read 1,557,369 times
Reputation: 767
Told you guys a long time time ago, the game is called 'Total Conquest' and the drums keep beating. NYC in 2030 will look like Burlington, Portland & Seattle. It is, what it is...
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Old 05-31-2015, 12:42 PM
 
Location: Pittsburgh, not Paris. #MAGA.
9,693 posts, read 5,288,262 times
Reputation: 9671
Quote:
Originally Posted by vision33r View Post
That's pretty typical, my father in law bought a building for $500k back in 02' in Bklyn and sold for $1.5mil 3 years ago. That build got converted to some gentrifiers' special condo.
Definitely a good investment. My parents just got a cash offer for their home (which they bought in 1999 for approx. $200k) for a little more than that price. They declined. I think they're holding out for another ten years or so, and, even then, are going to try to milk out a small condo out of any future deal with a developer, in addition to any cash received.
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Old 05-31-2015, 09:41 PM
 
301 posts, read 1,156,542 times
Reputation: 219
Quote:
Originally Posted by WhyRUMad View Post
It all goes in cycles. In another 50 years, NYC will be a crap hole again.
I know the poster is being quite cynical, but might there be some truth to what he said?
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Old 05-31-2015, 10:03 PM
 
480 posts, read 771,768 times
Reputation: 623
Quote:
Originally Posted by NOLA101 View Post
Presence of projects will not stop gentrification. Manhattan has the most public housing of any of the five boroughs, yet is obviously the most gentrified. There are big projects right next to Lincoln Center and in Chelsea and the Village and even on the Upper East Side, yet hasn't stopped gentrification.

I suspect you don't work in Mott Haven anymore, because there is tons of development in Mott Haven right now.

There are tons of projects in Williamsburg, and the South Bronx has similar conditions as Williasmburg 20 years ago, so doesn't sound crazy to me. Anyplace right next to Manhattan will see gentrification.


That doesn't make sense, as the North Bronx is much more established, so would have lower investment returns. The point of investment is to get the best return, not to find the least problematic location. Investors are banking on upside, not stability.

And the North Bronx is further from Manhattan. Areas gentrify from the core outward, so obviously somewhere like Mott Haven will gentrify long before somewhere like Wakefield.

Written like a true New Yawker!
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Old 06-01-2015, 06:16 AM
 
Location: Sneads Ferry NC/Randolph NJ/Cape Coral FL
12,945 posts, read 24,074,385 times
Reputation: 10778
Quote:
Originally Posted by Above Average Bear View Post
I bought my place in Stuy Heights in 04 for 420K, just sold it for 1.825.
Wow, good for you!! They are now in Carroll Gardens and I don't even want to know what they paid...lol
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Old 06-01-2015, 09:35 AM
 
Location: Gods country
5,337 posts, read 4,014,186 times
Reputation: 7391
Quote:
Originally Posted by njkate View Post
Wow, good for you!! They are now in Carroll Gardens and I don't even want to know what they paid...lol
Carroll gardens is a very nice area.
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Old 06-01-2015, 09:41 AM
 
Location: Manhattan
20,162 posts, read 26,460,446 times
Reputation: 9039
Is it really gentrification or just rent inflation?
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