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So you'd pay more to live in Bushwick over Ridgewood? Gotta be crazy. But then again you live in Bed-Stuy. That's the bubble of all bubbles.
For several years I owned and lived in a co op in a very safe and convenient Pelham Parkway. I gladly paid more to buy in trendy and up and coming Bed Stuy. For my demo and life stage (younger, unmarried, no kids and "trendy"), Bed Stuy is clearly a better fit. Is that really hard to understand? You have a different frame of mind and that's influenced by your age and life stage. Don't knock other people's choices based on their frame of mind and life stage. And I didn't buy in a bubble nor to flip, so get your side commentary straight.
Also the drop in rent prices for Bushwick is obviously due to increased inventory.
For several years I owned and lived in a co op in a very safe and convenient Pelham Parkway. I gladly paid more to buy in trendy and up and coming Bed Stuy. For my demo and life stage (younger, unmarried, no kids and "trendy"), Bed Stuy is clearly a better fit. Is that really hard to understand? You have a different frame of mind and that's influenced by your age and life stage. Don't knock other people's choices based on their frame of mind and life stage. And I didn't buy in a bubble nor to flip, so get your side commentary straight.
Also the drop in rent prices for Bushwick is obviously due to increased inventory.
Ridgewood is plenty trendy. You'd find more to do in Ridgewood these days than Bed-Stuy. I don't know much about Pelham Pkwy, but I do know its far away, whereas in Ridgewood and Bushwick, you can walk from one neighborhood to the other in a matter of seconds. Only difference is that the neighborhood gets cleaner, safer and more affordable once you cross into Queens. And its a more old school Brooklyn neighborhood than any neighborhood in Brooklyn itself.
Ridgewood is plenty trendy. You'd find more to do in Ridgewood these days than Bed-Stuy. I don't know much about Pelham Pkwy, but I do know its far away, whereas in Ridgewood and Bushwick, you can walk from one neighborhood to the other in a matter of seconds. Only difference is that the neighborhood gets cleaner, safer and more affordable once you cross into Queens. And its a more old school Brooklyn neighborhood than any neighborhood in Brooklyn itself.
Again, it is based on the individuals frame of mind, life stage, preferences, etc. Some people will just CHOOSE to live in Bushwick even if they can afford to live in Ridgewood. Stop trying to sell someone on an area they aren't interested in living. Just because you don't get it, doesn't mean that it doesn't make sense to them. A great comparison that helped me understand this is my Westchester upbringing. For a long time I wondered why people would chose to raise a family in NYC when the suburbs are so close. You can buy a huge house with plenty of land, amazing public schools, all within a 30 minute commute to GCT in several towns in lower Westchester for under $1.5MM. Why on earth would anyone pay just as much money to buy a MUCH smaller co-op or condo in NYC especially when they have a family? NYC is dirtier, noiser, has higher crime , etc.
The answer is that it's because *IT IS* NYC and some people just prefer it for a whole host of other reasons despite all of those so called "negatives".
Also, Pelham Parkway isn't far away in you work in midtown east. There is an express 5 train that's 35-40 minutes during rush hour...
But I thought rents in NYC only went up? Maybe investing in that apartment next to that housing project in the Bronx wasn't such a good idea after all.
How is Pelham Parkway (a bit of a derail I know). I've considered getting a cheap co-op by the 2, 5 Pelham Parkway stop in a couple of years, but I worry about longterm outlook of the neighborhood. Something about crime getting pushed out, which is somewhat inevitable. I go there every once in a while, but some insight from those who've lived there would be better.
Big unknown is just how much persons will pay to live "deep" into Brooklyn hipster status or not.
There have been several articles in the Sunday NYT RE section alone over the past few months about those priced out of "hot" Brooklyn but drew the line going further east. Harlem and upper Manhattan and other areas of NYC or even parts of Westchester or New Jersey become very attractive options once certain price points are reached.
Yes, there is a great need for housing out there, but much of it falls to households below those able to pay 2.5k per month for a studio or small one bedroom.
You don't see any coffee shops or art studios around Myrtle and Knickerbocker.
Do you mean the ones that cater to white, hipster transplants only? Or the shops/studios that have been around for 25-30yrs and cater to the people that been living in the area for the same amount of time.
If you had the option to rent a 2 bedroom for $2500 in Bushwick vs $2000 in Ridgewood, which would you take?
Neither.
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