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Old 06-02-2008, 03:50 PM
 
23 posts, read 127,744 times
Reputation: 22

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Hi,

I am going to buy a one bed room apartment in the nyc area,(excluding manhattan)

i think i will buy a coop as condos are higher in prices,

Regardless my budget (around 180K), can anyone tell me

what are the areas that will appreciate more in the next 5 to 10 years in
Queens or Brooklyn?

real expert gurus say I should look at the city developments and see
where new schools and important buildings are being build;

I know many will say DO not buy now as per current slowing RE
prices, but I want to buy anyway.

All I want is to make a living in a nice and safe area and
make a good investment as well;

Thank you for your opinions;
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Old 06-02-2008, 03:57 PM
 
7,079 posts, read 37,932,494 times
Reputation: 4088
Honestly, if you're looking five or ten years down the road, just about ANYTHING will appreciate in value.
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Old 06-02-2008, 04:07 PM
 
Location: Glendale NY
4,840 posts, read 9,911,437 times
Reputation: 3600
I heard Bushwick is the next up and coming neighborhood, however, as it is, it's a pretty bad neighborhood now.
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Old 06-02-2008, 05:53 PM
 
Location: No Sleep Til Brooklyn
1,409 posts, read 5,248,856 times
Reputation: 613
Anyone who claims to know which areas will appreciate is a liar or a fool.
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Old 06-02-2008, 07:44 PM
 
Location: Queens
842 posts, read 4,308,313 times
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lol posts like this crack me up. Why dont you do your own homework? Do you know how many people want the answer to your post
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Old 06-02-2008, 07:54 PM
 
58 posts, read 343,147 times
Reputation: 30
Quote:
Originally Posted by tullio07 View Post
Hi,

I am going to buy a one bed room apartment in the nyc area,(excluding manhattan)

i think i will buy a coop as condos are higher in prices,

Regardless my budget (around 180K), can anyone tell me

what are the areas that will appreciate more in the next 5 to 10 years in
Queens or Brooklyn?

real expert gurus say I should look at the city developments and see
where new schools and important buildings are being build;

I know many will say DO not buy now as per current slowing RE
prices, but I want to buy anyway.

All I want is to make a living in a nice and safe area and
make a good investment as well;

Thank you for your opinions;
would it be similar to telling the winning lottery numbers or the stock market fluctuations?
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Old 06-02-2008, 08:47 PM
 
12,340 posts, read 26,119,784 times
Reputation: 10351
Well, you are limited rather severely by the 180K price tag, but there are still coops for that price or more like 199K in Jackson heights. 1 bedroom Coop - 10% Down - Pet's welcome - Very fair Board - Jackson Heights NY - Queens

I have no crystal ball but this neighborhood seems like a pretty safe bet as it's only 12minutes to manhattan on the E or F train and has other nice amenities. Plus more and more artists (not the 20-somethings, but the older ones) are moving there for cheaper housing from whatever neighborhoods they used to live in in Brooklyn and Manhattan. The gay population found it years ago.

Isn't that all you need in order to predict the next up and coming neighborhood - wherever the gay people and artists are living, mixed in with fast transportation to manhattan?

Bay Ridge brooklyn would also be on my short list, as well as Ditmas Park.
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Old 06-02-2008, 08:49 PM
 
Location: Queens
842 posts, read 4,308,313 times
Reputation: 288
Quote:
Originally Posted by Henna View Post
Well, you are limited rather severely by the 180K price tag, but there are still coops for that price or more like 199K in Jackson heights. 1 bedroom Coop - 10% Down - Pet's welcome - Very fair Board - Jackson Heights NY - Queens

I have no crystal ball but this neighborhood seems like a pretty safe bet as it's only 12minutes to manhattan on the E or F train and has other nice amenities. Plus more and more artists (not the 20-somethings, but the older ones) are moving there for cheaper housing from whatever neighborhoods they used to live in in Brooklyn and Manhattan. The gay population found it years ago.

Isn't that all you need in order to predict the next up and coming neighborhood - wherever the gay people and artists are living, mixed in with fast transportation to manhattan?

Bay Ridge brooklyn would also be on my short list, as well as Ditmas Park.
Yeah but just how the Bronx has a stigma for urban decay, Queens has a stigma for immigrant families. That's why it will belong to the immigrants, so it won't be "hip", ever. Brooklyn has a "cooler" stigma
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Old 06-02-2008, 08:52 PM
 
12,340 posts, read 26,119,784 times
Reputation: 10351
I wanted to add that the artists are moving there DESPITE the lack of any studio/workspace available in the neighborhood. Some artists are working from home because the apartments tend to be very large and others are commuting to studios in Bushwick, Williamsburg, LIC, Chelsea and Greenpoint.
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Old 06-02-2008, 08:53 PM
 
12,340 posts, read 26,119,784 times
Reputation: 10351
Quote:
Originally Posted by BXGEAR View Post
Yeah but just how the Bronx has a stigma for urban decay, Queens has a stigma for immigrant families. That's why it will belong to the immigrants, so it won't be "hip", ever. Brooklyn has a "cooler" stigma
Luckily the artists that I know who are moving to JH are not particularly interested in 'hip' and would prefer great access to cheap authentic tasty immigrant cuisine.
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