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.
People moved to Brooklyn to live in a neighborhood not a mini Manhattan hamster trail. These places are not "Luxury" they are tiny and if you want amenities I suggest living in a real neighborhood will them all around you. Not your stacked up shoeboxes.
Many people can afford these rents they are just not stupid and don't like being ripped off!
Brooklyn is a variety of great neighborhoods. These cuboids are for lost souls.
People moved to Brooklyn to live in a neighborhood not a mini Manhattan hamster trail. These places are not "Luxury" they are tiny and if you want amenities I suggest living in a real neighborhood will them all around you. Not your stacked up shoeboxes.
Many people can afford these rents they are just not stupid and don't like being ripped off!
Brooklyn is a variety of great neighborhoods. These cuboids are for lost souls.
Well, a boxy high-rise neighborhood without soul is sort of adding to the variety. Soul-lessness is a very distinguishing feature.
Meanwhile rents are still reverting to its mean. So apparently there are enough people who do not find it worth it.
There are malls and movie theaters all over the country. People do not frequent them enough to justify living in them.
But the thing that killed the appeal of Downtown Brooklyn happened long ago through the development of all the on/off ramps for the BQE and bridges, and the construction of the municipal and corporate complexes.
Also keep in mind that the residents that live around the Barclay Center didn't even want it constructed in the first place.
Rents have gone down slightly. Their a long way from bargains.
Don't be irrational. Downtown Brooklyn is pretty popular because it's close to downtown Manhattan and because it's a job center.
As for the poor residents who feared gentrification and opposed the Barclay Center and the other new developments, since when have New York City developers and the city itself cared what poor people think? They sued in court to block it, but the highest court in NYS ruled in favor of the developers.
Rents have gone down slightly. Their a long way from bargains.
Don't be irrational. Downtown Brooklyn is pretty popular because it's close to downtown Manhattan and because it's a job center.
As for the poor residents who feared gentrification and opposed the Barclay Center and the other new developments, since when have New York City developers and the city itself cared what poor people think? They sued in court to block it, but the highest court in NYS ruled in favor of the developers.
The rational thing for me to do is not move to Downtown Brooklyn. There are a dozen or so Brooklyn neighborhoods I'd move to first. Bed-Stuy being one of them.
Downtown Brooklyn isn't even able to capitalize on the future L train shutdown.
The rational thing for me to do is not move to Downtown Brooklyn. There are a dozen or so Brooklyn neighborhoods I'd move to first. Bed-Stuy being one of them.
Downtown Brooklyn isn't even able to capitalize on the future L train shutdown.
Do you think downtown Brooklyn is going to end up becoming less attractive? I think the transit connection and the growth of jobs and retail in the area seem like it'll keep going on and on for a bit.
The big near-term difference would probably be if we expanded transit infrastructure so people can easily live further out in other neighborhoods or if NYC started seeing population declines (which would probably mean other things such as general economic downturns), but neither seem likely at this point. What do you see coming up?
Granted, I'm not in favor of all of this. I think the majority of these buildings coming up are really ugly and that the kind of residents they're encouraging are fair-weather sorts that would drop this borough and the city at the drop of the hat if things turn south economically for their personal pocketbooks. That being said, I don't see any sure signs that things are going to turn south economically.
Do you think downtown Brooklyn is going to end up becoming less attractive? I think the transit connection and the growth of jobs and retail in the area seem like it'll keep going on and on for a bit.
The big near-term difference would probably be if we expanded transit infrastructure so people can easily live further out in other neighborhoods or if NYC started seeing population declines (which would probably mean other things such as general economic downturns), but neither seem likely at this point. What do you see coming up?
Granted, I'm not in favor of all of this. I think the majority of these buildings coming up are really ugly and that the kind of residents they're encouraging are fair-weather sorts that would drop this borough and the city at the drop of the hat if things turn south economically for their personal pocketbooks. That being said, I don't see any sure signs that things are going to turn south economically.
Until they can figure out a way to get all the people out of the cars and out of the subway stations, and onto the actual streets, I can't see Downtown Brooklyn flourishing like the surrounding areas. Only having really tall residential buildings doesn't help the cause either. They should be half the height they are.
It's not just Downtown Brooklyn that is failing to get these ripoff prices and they only count the big new construction when "reporting" the glut in Long Island City and Manhattan etc.. All throughout Brooklyn on almost every street tons of smaller scale apartments are sprouting up. People trying to cash in too late. I see places vacant for way over a year, reduced, relisted. Yet bang, bang they are still building like crazy. Who knows when these loans come due and if they run out of lenders. The day will come. Math is not adding up. At least it will be quiet again. Will be back to living in neighborhoods and not real estate markets. People don't want to pay top dollar for the **** smelling Gowanus place. In the hot summer on Bond street try and breath : O
quote:
People don't want to pay top dollar for the **** smelling Gowanus place. In the hot summer on Bond street try and breath : O
Yup. Of course there will still be idiots trickling in, but I am SO glad developers are seeing it now that they can't build the same old faux luxury shoeboxes in every little corner and claim it's all high end living when it's so far from the truth.
It's not just Downtown Brooklyn that is failing to get these ripoff prices and they only count the big new construction when "reporting" the glut in Long Island City and Manhattan etc.. All throughout Brooklyn on almost every street tons of smaller scale apartments are sprouting up. People trying to cash in too late. I see places vacant for way over a year, reduced, relisted. Yet bang, bang they are still building like crazy. Who knows when these loans come due and if they run out of lenders. The day will come. Math is not adding up. At least it will be quiet again. Will be back to living in neighborhoods and not real estate markets. People don't want to pay top dollar for the **** smelling Gowanus place. In the hot summer on Bond street try and breath : O
A good number of new construction in New York City including Brooklyn was and or is financed by EB-5 money in part.
Banks have been rather conservative in their lending post fiscal/credit crisis/recession, and have grown increasingly more so in recent months regarding rental or luxury housing.
As such the RE market has turned increasingly to a mix of EB-5 and investor funding.
Still they won't fill all these places for years and years and years....They are a tiny shiny rip-offs.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
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.
