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That may change though. The city needs massive funding to rehab tons of housing projects, and who knows where that money will come from. It would be great if they pulled a Chicago and tore all of them down, and gave folks one way bus tickets to cheaper areas, this way they could live somewhere that they actually could afford without depending on the "gubment" (aka handouts), and the city could use that money for more important issues. A win win for everyone.
A lot of people here are saying exactly this, but then I open the paper and I see that activists are trying to mobilize to get the government to pump huge amounts of money into the system. I can easily see some judge ruling that the city has to fund this and then DeBlasio with an idiot grin on his face happily borrowing 2 billion more in muni bonds to keep the freeloaders going. The following week I would expect to see a slashing of the NYPD, garbage collection, and road repair budgets. Priorities
Remember why deblasio got elected ??? "Tale of 2 cities" . Trust me the programs for the poor are not ging anywhere and money WILL be found. Ther crowd that canbuy these homes will continue to do so...but most NYers will not vote for it and will fight it. The brooklyn real estate is very over valued and as always ...what goes up must come down. The poor arent goin anywhere and I am pretty sure DeBlasio will get re-elected. I am "future minded" but im just enjoying my time in NYc right now. Living in te present. Everyone seems to lookin for the next deal and buying buying buying !!! Just chill and live in the present. Its like a rat race to the top .... What top though ??? I go to bars in bushwick , eat the restaurants and **** on the street when i cant find a bathroom . And then i go home to the BX where i pay verylittle for a HUGE studio in a area im comfortabl with ...you dont need to live in these nighbohoods to enjoy them.
I am enjoying these nabes now that they are still diverse and before they become a Jcrew runway with starbucks latte moms w strollers white wash the whole place. And wait till the feds raise the interest rates ...
My point : no one knows whats happening next... They are just placing money on agamble that th real state trend will continue ...im sure it will but at a MUCH SLOWER rate than it is right now. The market will cool and this HYPER gentry will slow down alot... Just watch
I'm curious, how was Fort Greene and Clinton Hill in the 80s and 90s? How do the crime rates of those neighborhoods then compare to Bed-Stuy now?
Fort Greene back in the 1970's through early 1990's was just as bad as Bed-Stuyvesant. By the 1980's what would be called "hipsters" and gentrifiers began moving in again for the same reasons, a large stock of beautiful if not run down brownstones/townhouses and otherwise nice housing stock that was "affordable" compared to Manhattan.
For these early arrivals things were tough as crime, drugs and so forth made life pretty rough. People would drop off building materials/supplies in the AM or leave them overnight only to find in <24hours they were stolen.
You also had the same issues with class and race/ethnic background. Many of the residents of FG were AAs or Hispanics and of lower middle to poor households. The gentrifiers were usually white/Europeans of both straight and gay persuasions and middle class or above. As property values increased you saw the same things you see happening today; landlords began to raise rents and or try to find ways to get long time tenants who were often paying cheap rents out so they could accommodate wealthier new arrivals.
Clinton-Hill same thing; lather rinse and repeat. Though being closer to Bedford-Stuyvesant crime persisted longer and still to this day if you listen to some persons. However again the huge brownstone/townhouse housing stock along with large pre-war apartments are a huge attraction. There is a NYCHA housing project near the "G" train there that is pretty bad, but the streets around have those gorgeous buildings.....
Many persons who lost out/waited too long and thus missed getting into Fort-Greene began early on "discovered" Clinton Hill and moved in with crime, drugs and so forth. Those that waited to say around middle to late 1990's or early 2000's found themselves priced out of CH and are now in what was once no man's land; Bedford Stuyvesant below Pratt University.
By the way Pratt University played a huge role in turning that part of CH/BS around, especially along Myrtle Avenue.
Fort Greene back in the 1970's through early 1990's was just as bad as Bed-Stuyvesant. By the 1980's what would be called "hipsters" and gentrifiers began moving in again for the same reasons, a large stock of beautiful if not run down brownstones/townhouses and otherwise nice housing stock that was "affordable" compared to Manhattan.
For these early arrivals things were tough as crime, drugs and so forth made life pretty rough. People would drop off building materials/supplies in the AM or leave them overnight only to find in <24hours they were stolen.
You also had the same issues with class and race/ethnic background. Many of the residents of FG were AAs or Hispanics and of lower middle to poor households. The gentrifiers were usually white/Europeans of both straight and gay persuasions and middle class or above. As property values increased you saw the same things you see happening today; landlords began to raise rents and or try to find ways to get long time tenants who were often paying cheap rents out so they could accommodate wealthier new arrivals.
Clinton-Hill same thing; lather rinse and repeat. Though being closer to Bedford-Stuyvesant crime persisted longer and still to this day if you listen to some persons. However again the huge brownstone/townhouse housing stock along with large pre-war apartments are a huge attraction. There is a NYCHA housing project near the "G" train there that is pretty bad, but the streets around have those gorgeous buildings.....
Many persons who lost out/waited too long and thus missed getting into Fort-Greene began early on "discovered" Clinton Hill and moved in with crime, drugs and so forth. Those that waited to say around middle to late 1990's or early 2000's found themselves priced out of CH and are now in what was once no man's land; Bedford Stuyvesant below Pratt University.
By the way Pratt University played a huge role in turning that part of CH/BS around, especially along Myrtle Avenue.
Two deals earlier this year in Bedstuy closed for 2.25 million. Both properties were purchased for $770,000 or so.
Many of these brownstones have backyards.
"As prices rise in Brooklyn, brokers in Bedford-Stuyvesant have been breaking sales records left and right since March. In a sign of how hot the neighborhood’s become, nine of Bed-Stuy’s top 15 residential sales in the past five years are from 2014, according to data from Property Shark. Meanwhile, the median sales price during the second quarter rose to $630,000, up from $425,000 in the second quarter of 2013. In June of this year, the median asking price was even higher, according to StreetEasy data: $895,000, a 50.4 percent increase from June 2013. - See more at: http://therealdeal.com/blog/2014/08/05/bed-stuys-1-5m-plus-club/#sthash.s5qGvEeP.dpuf"
I think the neighborhood will be really nice in about 10 years or so. The investors are pushing out the Section 8 crowd, so the neighborhood is in transition.
At least you finally admit its not gentrified yet as you insisted last week, and put a timetable on the future progress.
btw...investors are grabbing real estate all over the place around here. Even in the boondocks of Queens. Every other day I'm getting letters in the mail from investors. People are asking for prices almost double since I purchased less than a couple years ago. Makes me think there is a bubble forming, but really I just think its inflation related.
Fort Greene back in the 1970's through early 1990's was just as bad as Bed-Stuyvesant. By the 1980's what would be called "hipsters" and gentrifiers began moving in again for the same reasons, a large stock of beautiful if not run down brownstones/townhouses and otherwise nice housing stock that was "affordable" compared to Manhattan.
For these early arrivals things were tough as crime, drugs and so forth made life pretty rough. People would drop off building materials/supplies in the AM or leave them overnight only to find in <24hours they were stolen.
You also had the same issues with class and race/ethnic background. Many of the residents of FG were AAs or Hispanics and of lower middle to poor households. The gentrifiers were usually white/Europeans of both straight and gay persuasions and middle class or above. As property values increased you saw the same things you see happening today; landlords began to raise rents and or try to find ways to get long time tenants who were often paying cheap rents out so they could accommodate wealthier new arrivals.
Clinton-Hill same thing; lather rinse and repeat. Though being closer to Bedford-Stuyvesant crime persisted longer and still to this day if you listen to some persons. However again the huge brownstone/townhouse housing stock along with large pre-war apartments are a huge attraction. There is a NYCHA housing project near the "G" train there that is pretty bad, but the streets around have those gorgeous buildings.....
Many persons who lost out/waited too long and thus missed getting into Fort-Greene began early on "discovered" Clinton Hill and moved in with crime, drugs and so forth. Those that waited to say around middle to late 1990's or early 2000's found themselves priced out of CH and are now in what was once no man's land; Bedford Stuyvesant below Pratt University.
By the way Pratt University played a huge role in turning that part of CH/BS around, especially along Myrtle Avenue.
And THIS is why I laugh at the people on here who bash Bed Stuy like it's a hopeless ghetto. The process of the neighborhood changing has started. It started over a decade ago when people wanting brownstones were priced out of Clinton Hill. It stated years ago when the first coffee shop opened up and, the first transplants moved over a few blocks, the first new families bought brownstones. If you look at the history of neighborhoods in NYC going from ghetto to great, it's about a 20-30 year process. Bed Stuy is about 10-15 years in. It's at the 1/2 way point but many can't "see" it.
Change always starts slowly. It's little things here and there and it's very hard to notice the little changes until they start picking up momentum. The thing about change is it's very hard to gauge it while it's happening because by and large everything appears the same. It's like losing weight. If you're trying to shed 20 lbs, most people don't notice the first couple of pounds. It's only after the changes are complete that people look back and realize how much has transformed.
And THIS is why I laugh at the people on here who bash Bed Stuy like it's a hopeless ghetto. The process of the neighborhood changing has started. It started over a decade ago when people wanting brownstones were priced out of Clinton Hill. It stated years ago when the first coffee shop opened up and, the first transplants moved over a few blocks, the first new families bought brownstones. If you look at the history of neighborhoods in NYC going from ghetto to great, it's about a 20-30 year process. Bed Stuy is about 10-15 years in. It's at the 1/2 way point but many can't "see" it.
Change always starts slowly. It's little things here and there and it's very hard to notice the little changes until they start picking up momentum. The thing about change is it's very hard to gauge it while it's happening because by and large everything appears the same. It's like losing weight. If you're trying to shed 20 lbs, most people don't notice the first couple of pounds. It's only after the changes are complete that people look back and realize how much has transformed.
Yeah but maybe not everybody's into buying into a neighborhood that is still "in transition," or worried about how much the value of their home is going to increase. Maybe some people are just looking for the opportunity to own, and grow old in their houses. Yes Bed-Stuy is changing, but why pay so much money when you can still get caught in a shooting coming home from work or from hanging out. For all that money, save it and buy in East New York and still get to Lower Manhattan in 20 minutes if that's the case (if you really want to be a pioneer).
PS: I got a friend that bought in the Stuy, but he grew up in the Stuy. He prolly knows who's doing the shooting half the time lol. For somebody that worked hard and wanted to stay in his hood (like I did), it's completely fine for us. I can't see little Ethan walking down Ralph Avenue to get ice cream.....at least not today.
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And THIS is why I laugh at the people on here who bash Bed Stuy like it's a hopeless ghetto. The process of the neighborhood changing has started. It started over a decade ago when people wanting brownstones were priced out of Clinton Hill. It stated years ago when the first coffee shop opened up and, the first transplants moved over a few blocks, the first new families bought brownstones. If you look at the history of neighborhoods in NYC going from ghetto to great, it's about a 20-30 year process. Bed Stuy is about 10-15 years in. It's at the 1/2 way point but many can't "see" it.
Change always starts slowly. It's little things here and there and it's very hard to notice the little changes until they start picking up momentum. The thing about change is it's very hard to gauge it while it's happening because by and large everything appears the same. It's like losing weight. If you're trying to shed 20 lbs, most people don't notice the first couple of pounds. It's only after the changes are complete that people look back and realize how much has transformed.
Need to amend previous post in that Blacks moved to Fort Greene/Clinton Hill also in good numbers during the 1980's and early 1990's which depending upon whom you want to believe began the *changes* in that area. Fort Greene, Brooklyn | Abagond
Whites arrived as well and more came later and that was that. This is why you see and hear persons like Spike Lee (an early pioneer of FG/CH/BS so ticked off at gentrification of the area. Of course by this they mean *whites*.
Yeah but maybe not everybody's into buying into a neighborhood that is still "in transition," or worried about how much the value of their home is going to increase. Maybe some people are just looking for the opportunity to own, and grow old in their houses. Yes Bed-Stuy is changing, but why pay so much money when you can still get caught in a shooting coming home from work or from hanging out. For all that money, save it and buy in East New York and still get to Lower Manhattan in 20 minutes if that's the case (if you really want to be a pioneer).
PS: I got a friend that bought in the Stuy, but he grew up in the Stuy. He prolly knows who's doing the shooting half the time lol. For somebody that worked hard and wanted to stay in his hood (like I did), it's completely fine for us. I can't see little Ethan walking down Ralph Avenue to get ice cream.....at least not today.
Will give you that but the history of Brooklyn real estate in particular the brownstone/townhouse areas is that of "iffa, wouldda, shoulda". If persons wait until the area is scrubbed up and so froth then they are going to buy when prices are high to reflect that change. Again many, many, many persons one knows gay and straight are still kicking themselves for not getting into Fort Greene or Clinton Hill when they "could". Some ended up in the Bronx, others remained in Manhattan. Still more purchased in Park Slope or the other up and coming area of Brooklyn in the 1990's Park Slope "south" and Prospect Heights.
The ones in Manhattan still have brownstone fever and aside from some parts of Harlem there isn't a supply of "cheap" ones to be had outside of Bed-Stuy. So Caleb and Noah, or Ethan and Ashley will buy in BS and do what they have to do.
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