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Old 05-14-2017, 09:54 AM
 
Location: New Jersey and hating it
12,197 posts, read 7,183,589 times
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Quote:
Originally Posted by SeventhFloor View Post
It makes sense....Manhattan could use a couple more 100 story residential buildings.
You really do need that to make up for the many neighborhoods that sit in the middle of Manhattan that are well served by transit but don't allow tall towers and/or restrictive zoning, e.g. West Village, Greenwich Village, East Village, SoHo, Chelsea, Tribeca, etc.
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Old 05-14-2017, 10:29 AM
 
1,721 posts, read 1,144,302 times
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Quote:
Originally Posted by antinimby View Post
^ The market is not monolithic. There are people interested in brownstones, there are people interested in new buildings, there are people interested in walkups, and so on.

What new development does, is that it creates new housing options, so that those who are interested in new buildings can get into one and that the cost is not too prohibited. If you put a limit on new development, new buildings get expensive and some of the folks that like new buildings are priced out so they seek other forms of housing in cheaper neighborhoods, thus driving up prices there too.

I know you'll reply and argue because you don't understand but want to argue anyway.
I know that that's why I said it still won't effect rental markets in certain areas. As downtown Brooklyn is mostly luxury buildings and the vast rental price difference compared to a 2 bedroom apartment in say bushwick is Atleast a 500 plus to $1000 difference. Like you said there are different markets but that relies on mostly price point, also space is a factor as well. If you can get a 2 bedroom elsewhere why would you pay for a 1 bedroom for the same price. If space and price is a top priority.

Luxury clients are different from those gentrifying other cheaper neighborhood. Will see if it has lasting effects but I doubt it.
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Old 05-14-2017, 11:04 AM
 
Location: New Jersey and hating it
12,197 posts, read 7,183,589 times
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Quote:
Originally Posted by cheyenne2134 View Post
I know that that's why I said it still won't effect rental markets in certain areas. As downtown Brooklyn is mostly luxury buildings and the vast rental price difference compared to a 2 bedroom apartment in say bushwick is Atleast a 500 plus to $1000 difference. Like you said there are different markets but that relies on mostly price point, also space is a factor as well. If you can get a 2 bedroom elsewhere why would you pay for a 1 bedroom for the same price. If space and price is a top priority.

Luxury clients are different from those gentrifying other cheaper neighborhood. Will see if it has lasting effects but I doubt it.
You are comparing apples to oranges. DT BK is going to be more expensive than Bushwick because of location (seriously, you need me to tell you that?). But you are absolutely wrong on that it has no effect on other neighborhoods. The city (and the entire metro to be honest) is all interrelated. What happens in one area can have an effect in others, some more than others.

I knew you would argue and we'll have two or three pages of worthless debate over nothing other than you being ignorant but wanting to prove you're right.
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Old 05-14-2017, 01:03 PM
 
169 posts, read 87,424 times
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Quote:
Originally Posted by harrypothead View Post
I don't need a gym or roofdeck but some people wouldn't want to Brownstone it, especially if they have kids. Too many stairs. They have to carry the baby, the stroller, the toddler, the groceries, etc.
You're assuming the apartments are all upstairs, many are located on the garden level
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Old 05-14-2017, 01:32 PM
 
3,699 posts, read 3,844,397 times
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I live just outside the new highrise zones. We got our lease renewal this month and our rent only went up 50 bux a month (on a two bedroom apartment, so 25 for me). before this building boom it was 100 dollars and one year it was 150! so MAYBE this is helping ,but i still think that in some areas are not going to see a rent reduction at all just a softening of increases, which is good, but still damn expensive. Non stabalized resident here.
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Old 05-14-2017, 01:32 PM
 
1,721 posts, read 1,144,302 times
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Quote:
Originally Posted by antinimby View Post
You are comparing apples to oranges. DT BK is going to be more expensive than Bushwick because of location (seriously, you need me to tell you that?). But you are absolutely wrong on that it has no effect on other neighborhoods. The city (and the entire metro to be honest) is all interrelated. What happens in one area can have an effect in others, some more than others.

I knew you would argue and we'll have two or three pages of worthless debate over nothing other than you being ignorant but wanting to prove you're right.
That's not what I'm saying but I'll bump this post up in a few years.

Luxury housing does not have a significant effect on other forms of housing.

Mind you there has been a so-called glut in luxury rentals in Manhattan. Has rent gotten significantly cheaper, no
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Old 05-14-2017, 01:34 PM
 
1,721 posts, read 1,144,302 times
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Quote:
Originally Posted by Aquarius37 View Post
I live just outside the new highrise zones. We got our lease renewal this month and our rent only went up 50 bux a month (on a two bedroom apartment, so 25 for me). before this building boom it was 100 dollars and one year it was 150! so MAYBE this is helping ,but i still think that in some areas are not going to see a rent reduction at all just a softening of increases, which is good, but still damn expensive. Non stabalized resident here.
And this is the truth, this article makes it sound like rents are going to cut across the board. No that boerum hill 1 bedroom apartment was overpriced as is.
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Old 05-14-2017, 01:59 PM
 
7,934 posts, read 8,570,189 times
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Quote:
Originally Posted by cheyenne2134 View Post
I'm not understanding this article. The people that can afford the prices of those rentals downtown are not the same clients that would live in a brownstone apartment in bed stuy/parkslope/bushwick. Brownstone apartments are always considerably cheaper than new development buildings with anemities. 1 bedroom for $3000 even in boruem hill is overpriced when new development is basically around the same price. Market is leveling itself out in certain areas, there will no more dramatic increases in rent. Well until they raise minimum wage to $15.

There is still a problem with affordable housing, the luxury end will get relief but people still can't afford those prices
How would raising the minimum wage to $15 bucks an hour have any effect on the market for $3000 apartments? You can't afford a $3000 apartment if you make $30 an hour let alone $15.
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Old 05-14-2017, 02:07 PM
 
7,934 posts, read 8,570,189 times
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What goes up must...well maybe not go down significantly but will certainly cool down and level off at some point. There are still only a finite number of people in the world who want to live in Brooklyn (lol) and can actually afford to pay $2500+ per month for a not-nearly-good-enough-for-that-kind-of-money apartment. (Yeah reality bites sometimes, even if you're a wealthy New York real estate developer.)
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Old 05-14-2017, 03:46 PM
 
25,556 posts, read 23,892,174 times
Reputation: 10119
Quote:
Originally Posted by antinimby View Post
You really do need that to make up for the many neighborhoods that sit in the middle of Manhattan that are well served by transit but don't allow tall towers and/or restrictive zoning, e.g. West Village, Greenwich Village, East Village, SoHo, Chelsea, Tribeca, etc.
Chelsea has lots of tall buildings on 6th Avenur and along the Wedt Chelsea and around the high line. A lot of tall buildings are rising in parts of LES,
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