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Old 11-07-2009, 08:00 AM
 
Location: Washington, DC & New York
9,413 posts, read 16,098,975 times
Reputation: 5078

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With regard to Williamsburg, it's sort of an unfinished project, caught in the middle between the gentrification of a working class neighborhood into a uber-hip hipster scene that was funded with money largely not earned by the denizens of said hipster enclave. Prices were artificially high, and many new projects with lofty projections were begun; however, when the tide turned, the neighborhood has shifted again, with projects incomplete and overpriced existing housing with little reason for the price jump. There has been no radical shift in Williamsburg, unlike a DUMBO where the old waterfront district was turned into a new enclave, complete with real shops and services.

As for the cultural climate, well, that's a matter of taste, since some like the hipster scene and others have had issues with said hipsters. The economic climate has tamed the debate, however, primarily because some of the transplant hipsters who were living off their parents' largess back home do not have intergenerational wealth upon which to sustain the lifestyle to which they had become accustomed. Upper middle and middle class families in the rest of the country (who would not be at the same standard by their income in NYC) could subsidize the child's lifestyle when their own investment portfolio and work situation was flush, but when the tide turned, they could not do so. It has changed the area, and I'm not a fan of the attitude that has come with Williamsburg in recent years.
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Old 11-07-2009, 09:51 AM
 
784 posts, read 1,790,815 times
Reputation: 427
If you insist on living in Manhattan, you can live in almost every neighborhood for $120K / year.

My advice: Live in Brooklyn since it's closer to work. If you are living in Manhattan, go as far south as possible, since it's close to work. Tribeca is very nice, and there are parks there.

If you are concerned about street crime, stay away from neighborhoods north of 96th Street, and stay away from the Lower East Side.

If you want to know about the rental costs of each individual neighborhood, google "Manhattan Rental Market Report" and read this month's report.
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Old 11-07-2009, 09:54 AM
 
784 posts, read 1,790,815 times
Reputation: 427
Quote:
Originally Posted by bmwguydc View Post
With regard to Williamsburg, it's sort of an unfinished project, caught in the middle between the gentrification of a working class neighborhood into a uber-hip hipster scene that was funded with money largely not earned by the denizens of said hipster enclave. Prices were artificially high, and many new projects with lofty projections were begun; however, when the tide turned, the neighborhood has shifted again, with projects incomplete and overpriced existing housing with little reason for the price jump. There has been no radical shift in Williamsburg, unlike a DUMBO where the old waterfront district was turned into a new enclave, complete with real shops and services.

As for the cultural climate, well, that's a matter of taste, since some like the hipster scene and others have had issues with said hipsters. The economic climate has tamed the debate, however, primarily because some of the transplant hipsters who were living off their parents' largess back home do not have intergenerational wealth upon which to sustain the lifestyle to which they had become accustomed. Upper middle and middle class families in the rest of the country (who would not be at the same standard by their income in NYC) could subsidize the child's lifestyle when their own investment portfolio and work situation was flush, but when the tide turned, they could not do so. It has changed the area, and I'm not a fan of the attitude that has come with Williamsburg in recent years.
Man, I was not a fan of those hipsters who had their parents pay their rent! In some aspects, I am glad that this recession hit - prices are being brought back to equilibrium!
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Old 11-07-2009, 02:17 PM
 
Location: Bed-stuy/Clinton Hill
953 posts, read 1,413,406 times
Reputation: 479
Try Fort Greene or Clinton Hill, they're adjacent to Downtown Brooklyn, diverse safe neighborhoods, elegant Brownstones and cheaper than Park Slope, Cobble Hill or Carrol Gardens.
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