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Old 11-29-2018, 12:41 AM
 
20 posts, read 3,658 times
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Quote:
Originally Posted by Foamposite View Post
Well that makes sense. Does Coney Island really have that much housing stock to buy up, though?

The 2009 rezoning is finally taking hold and they are building like crazy in Coney Island. Schron, Catsimatidis, Rybak, Taconic, iStar, Glenwood, L&M Dev., Arker are all developing there right now to name a few.
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Old 11-29-2018, 12:44 AM
 
418 posts, read 100,484 times
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Quote:
Originally Posted by Bicep20 View Post
The 2009 rezoning is finally taking hold and they are building like crazy in Coney Island. Schron, Catsimatidis, Rybak, Taconic, iStar, Glenwood, L&M Dev., Arker are all developing there right now to name a few.
That sounds more like large apartment buildings rather than single family houses they can "snatch up"
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Old 11-29-2018, 12:47 AM
 
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Quote:
Originally Posted by Foamposite View Post
That sounds more like large apartment buildings rather than single family houses they can "snatch up"

Correct
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Old 11-29-2018, 12:53 AM
 
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Originally Posted by davidmun View Post
Don't know. I know many wealthy investors from China buy big mansions in very wealthy sub-rural like Westchester only for investment. They don't actually live in US.

Yeah, some Chinese like to live in rural, but most tends to stay in big cities like Toronto, Vancouver, NYC, SF, etc... They are starting building a mega-project in Flushing, Queens now. The housing project cost is enormous. It is worth one billion dollars. Probably more Chinese will move in once completed.

You know the median income in SOHO/Little Italy/Civic Center next to Chinatown is around $240,000, one of the highest income areas in the nation. Even tech workers can't afford there with their average salary of $150,000. These people living there bid up the real estate price in Chinatown enormously. That drives majority of Chinese out to Flushing, Queen and Brooklyn.
I'm sure there are plenty of Chinese people who prefer to live in houses in the suburbs over apartment buildings. There are large Chinese populations in upscale suburban areas in both New York and California.
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Old 11-29-2018, 09:20 AM
 
Location: Brooklyn, New York
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Quote:
Originally Posted by Foamposite View Post
I'm sure there are plenty of Chinese people who prefer to live in houses in the suburbs over apartment buildings. There are large Chinese populations in upscale suburban areas in both New York and California.
There are also Chinese people running Chinese food joints in rural Alabama and Mississippi. Chinese there speak with heavy southern twang too!
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Old 11-29-2018, 09:57 AM
 
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In NYC, there are in general three groups of Chinese. One is low incoming and working in restaurants or other service sector. Most of them are Cantonese or fujianese who live in Chinatown and Brooklyn. Second, it is the recent immigrants who have higher education and well above average income or wealth. They tend to concentrate in areas from Flushing eastwards up to Great Neck in Long Island. Third group is the young fresh graduates who primarily living in Manhattan and increasingly Long Island City.
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Old 11-29-2018, 10:01 AM
 
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Chinese in US are very diverse. But most prefer an area with easy transit good schools and where there are established Chinese community. So it is not suburb vs city.
Quote:
Originally Posted by Foamposite View Post
I'm sure there are plenty of Chinese people who prefer to live in houses in the suburbs over apartment buildings. There are large Chinese populations in upscale suburban areas in both New York and California.
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Old 11-29-2018, 03:39 PM
 
Location: NYC
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In 20 years from now, we might as well called Flushing the New little Shanghai while Brooklyn is the new little Fuzhou.
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Old 11-29-2018, 03:49 PM
 
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Originally Posted by vision33r View Post
In 20 years from now, we might as well called Flushing the New little Shanghai while Brooklyn is the new little Fuzhou.
Love that they are hitting Southern Brooklyn while the yuppies hit Northern Brooklyn. It has opportunity written all over it. They targeted Sunset Park a good 10 years before the yuppies radared it. So promising......
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Old 11-29-2018, 06:59 PM
 
18,628 posts, read 12,078,023 times
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Quote:
Originally Posted by Bicep20 View Post
Love that they are hitting Southern Brooklyn while the yuppies hit Northern Brooklyn. It has opportunity written all over it. They targeted Sunset Park a good 10 years before the yuppies radared it. So promising......


Chinese are "hitting" Staten Island as well, big time.


Driving around over the holidays you saw them everywhere; Rosebank, Grasmere, South Shore, Mid-Island, North Shore (parts), etc....


This includes NYCHA and or senior housing out on SI as well.
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