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Old 09-27-2019, 01:34 PM
 
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Another gentrification story, this time about Chinatown/Two Bridges.

https://www.vox.com/the-highlight/20...ower-east-side
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Old 09-27-2019, 01:44 PM
 
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While I don't know why anyone would pay big bucks for condos in that area, ethic groups don't own their neighborhoods (beyond the fact that some members of those ethnic groups might actually own property in the neighborhood.) Ask the Italians in Little Italy that got squeezed out thy the Chinese, who subsumed most of the area into Chinatown.
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Old 09-27-2019, 01:53 PM
 
Location: Plandome, NY
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Lower Manhattan Chinatown isn't much of a Chinatown anymore. It will go the way of Little Italy over time. Move on
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Old 09-27-2019, 02:34 PM
 
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Originally Posted by BBMW View Post
While I don't know why anyone would pay big bucks for condos in that area, ethic groups don't own their neighborhoods (beyond the fact that some members of those ethnic groups might actually own property in the neighborhood.) Ask the Italians in Little Italy that got squeezed out thy the Chinese, who subsumed most of the area into Chinatown.


I bet that the Italians left and the Chinese moved into their vacant apartments.
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Old 09-27-2019, 02:39 PM
 
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Originally Posted by caribny View Post
I bet that the Italians left and the Chinese moved into their vacant apartments.
More than that; as Jews and Italians fled the Chinese bought up property. This is one reason why Chinatown spread; the Chinese who owned filled both commercial and residential with their own kind.

Fast forward to now it is those same Chinese who are behind selling and or redevelopment of property contributing towards gentrification. In some instances restaurants, shops, housing, etc... that once benefitted low income/working class Chinese are being pushed out for a higher class of Asians.

As someone noted in a thread on this issue a while ago; many Chinese already fled LES Chinatown for Flushing and other new nabes outside of Manhattan.
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Old 09-27-2019, 02:41 PM
 
Location: In the heights
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Originally Posted by BugsyPal View Post
More than that; as Jews and Italians fled the Chinese bought up property. This is one reason why Chinatown spread; the Chinese who owned filled both commercial and residential with their own kind.

Fast forward to now it is those same Chinese who are behind selling and or redevelopment of property contributing towards gentrification. In some instances restaurants, shops, housing, etc... that once benefitted low income/working class Chinese are being pushed out for a higher class of Asians.

As someone noted in a thread on this issue a while ago; many Chinese already fled LES Chinatown for Flushing and other new nabes outside of Manhattan.
Yea, and some Chinese also ended up renting from Italian landlords. A group leaving a neighborhood doesn't necessarily mean that they sold the property.
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Old 09-27-2019, 02:45 PM
 
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Originally Posted by OyCrumbler View Post
Yea, and some Chinese also ended up renting from Italian landlords. A group leaving a neighborhood doesn't necessarily mean that they sold the property.


Except that in Chinatown much of the real estate has been bought by Chinese, just not the same segment who are now living there as impoverished tenants.
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Old 09-27-2019, 02:46 PM
 
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Originally Posted by BBMW View Post
While I don't know why anyone would pay big bucks for condos in that area, ethic groups don't own their neighborhoods (beyond the fact that some members of those ethnic groups might actually own property in the neighborhood.) Ask the Italians in Little Italy that got squeezed out thy the Chinese, who subsumed most of the area into Chinatown.
People are paying for the views, or at least that is much of working theory behind these new developments.

Could say same about certain areas with an influx of luxury/high end new development along Brooklyn and Queens waterfront. Heck when you get down to it even area surrounding Hudson Yards isn't so great, but people are paying $$$$ to move in over there.
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Old 09-27-2019, 02:58 PM
 
Location: In the heights
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Originally Posted by caribny View Post
Except that in Chinatown much of the real estate has been bought by Chinese, just not the same segment who are now living there as impoverished tenants.
Yea, a large amount of it through either people who got there earlier, and Chinatown has been around for a pretty long while, or people who were wealthier to begin with--I'm not denying that, but there are certainly properties that were owned by holdovers from communities that left the area and rented their property out rather than selling.
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Old 09-27-2019, 03:02 PM
 
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Originally Posted by OyCrumbler View Post
Yea, a large amount of it through either people who got there earlier, and Chinatown has been around for a pretty long while, or people who were wealthier to begin with--I'm not denying that, but there are certainly properties that were owned by holdovers from communities that left the area and rented their property out rather than selling.


the point being that the property owners are maximizing value, regardless as to their ethnicity. I bet you though that many of those old Italians/Jews who owned Little Italy sold out to Chinese conglomerates who bought in, knowing the potential of the area.
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