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The minimum income is 50k, however the income for 130AMI for a 1 bedroom is $80,572 - $121,420.
So would it really still be the projects with someone making 6 figures living there
Fifty grand is poverty wages in NYC. Anyone earning that sort of money is busted unless they're working another job, and or have some sort of side hustle.
After taxes someone in NYC earning only $50k is down to a hair over $39k.
Fifty grand is poverty wages in NYC. Anyone earning that sort of money is busted unless they're working another job, and or have some sort of side hustle.
After taxes someone in NYC earning only $50k is down to a hair over $39k.
It is but unfortunately its what these jobs are paying. I know many other paralegals making 50k. These days its nothing but even in the law field they are trying to push that salary. Some even 40k! smh
Market Rate in East New York? (LOL!) A risky venture at best but the developer will come out ahead no matter what. If not enough market rate renters sign up, there's always voucher/Section-8/homeless tenants to fill the place up.
In 2006-2008 a lot of people say Harlem, Downtown Brooklyn, Williamsburg, Jamaica Queens was too ghetto now college grads, hipsters, people with money moving to area. Downtown Brooklyn these days look like baby Manhattan
In 2006-2008 a lot of people say Harlem, Downtown Brooklyn, Williamsburg, Jamaica Queens was too ghetto now college grads, hipsters, people with money moving to area. Downtown Brooklyn these days look like baby Manhattan
Those areas are still ghetto. The veneer of transplants/new development does not change the ghetto element that is entrenched in those areas. Sure property values have skyrocketed.
Very rough area. Like the roughest areas in Baltimore but dense and actually populated with residents.
When the OP posted the article and the man living in East NY said "it will be like Williamsburg." Uhm, no, not a chance-THAT it never will, respectfully.
They're not the only ones who people consider "working people". You have a bad habit of making racist $hit up and spewing it as fact.
On topic, I don't see the appeal of East New York for anyone who can afford elsewhere. It's a rough area and far from anything.
Are you sure about that? Please point us to an NYC politician discussing "working class" where they're not referring to black and/or Hispanic NYCers. "Working class" has become a dog whistle for NYC politicians to refer to black/Hispanic to the exclusion of everyone else.
Labeling people racist in NYC doesn't mean anything.
I think the people who move there will learn sooner or later. They are really pushing the downtown luxury vibe out there and its just not the same. The commute for anyone who works in the city is not appealing.
Sometimes when people try to gentrify an area it doesn't work out- that's how I see this turning out. Lets see how it all unfolds over the next few years
(personally think they are better off building units there for the people who already live there can afford. Units for that specific AMI)
That's what people said about Bed-Stuy and Bushwick. Pull up streeteasy and take a look at what's on the market.
All it takes is a critical mass and that number isn't as high as people think. It also helps that transplants, in general are clueless as to the racial tensions in NYC. They think being the only white person on the block is "cool". It's hilarious but it's great. It's what has made gentrification possible.
When I was looking to buy, I looked at a few places in Bed-Stuy out of sheer curiosity because I was also looking in Williamsburg. As a person raised in NYC, I'd never think of moving my white ass into a majority black neighborhood. Not because there's anything wrong with it but moreso out of respect for boundaries.
However, you wouldn't believe these white dopes who were happily prancing around the neighborhood as if it was Oshkosh, Wisconsin. On the one hand I respect the gangster but on the other I was just confused. The old adage "ignorance is bliss" works wonders with gentrification.
Do or Die Bed-Stuy is now full of Calebs and Kelseys. If you told me that even 10 years ago, I would've laughed in your face.
Bushwick is in FULL BLOWN gentrification mode post COVID. In 5 years that neighborhood will be completely different.
Gentrification would've been even more furious and reached further sooner but the MTA is completely incompetent as a public transit organization. In hindsight, bike lanes played and are playing an indispensable role in gentrification. Much more than even the MTA.
The commute to even LES is 30min via bed stuy. The commute from ENY is an hour to that same area (& that’s me being generous with the commute time with trains). The optics are not the same in terms of commute /distance to Manhattan with ENY
The commute to even LES is 30min via bed stuy. The commute from ENY is an hour to that same area (& that’s me being generous with the commute time with trains). The optics are not the same in terms of commute /distance to Manhattan with ENY
I know a few people that live in Bed-Stuy. Very few even go to Manhattan. They have everything they need in BK. The focus is no longer on commute times into Manhattan for leisure activities. BK is more popular than Manahttan now by a country mile and RE prices are reflecting that
Take a look at how many bars and cafes are opening up in Bushwick now.
Ok let’s see how it goes. MY guess is it won’t last. Not every move on gentrification takes hold.
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