Real Estate Trends In NYC

[Pete]

As a recent transplant to NYC, I have a ? for the New Yorkers out there,
Since SoHo's so "over", what do you think is the next NYC RESIDENTIAL hot spot. Where do you want to live? My place is in W. Chelsea and with the high line development, I'm a bit biased, but was wondering what ya'll think. I love Nolita and Chelsea, but was curious as to how you feel?
Park Slope is also a personal fave.

 

[faust]

I love DUMBO (Brooklyn). It's a great little enclave between Brooklyn and Manhattan bridges, one stop on the F or A/C line from Manhattan. Unbelievable views, right on the river, quiet, next to the Fulton landing (the pier where The River cafe and Grimaldi's Pizza is). It's quiet yet close to everything. It's still being developed and the surroundings are not that pretty (and there are no bargains to be had, since these are all huge lofts converted from the warehouses). Jacques Torres hot chocolate is a major hit.

P.S. Surface magazine has their New York office in Dumbo, if it's good for them, it's good for me

 

[softgrey]

Originally posted by faust@Aug 2 2004, 03:27 PM


P.S. Surface magazine has their New York office in Dumbo, if it's good for them, it's good for me

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that may be true...but their new hotel is in the lower east side and riley basically calls the soho grand his home away from home...

i'd say that nolita/noho is still developing dramatically along bowery and i think that will keep pushing east through the lower east side...so many new residential buildings are under construction or under renovation all around me...it just doesn't stop...

I still like the west village for quality of life...but i seem to be more of an east side girl...
i like the artsy vibe over here... the energy is still raw...

the west side can be beautiful...but it's a bit uptight and stiff for me...i like things a bit more chill...

 

[Theory]

OK, if you are really interesting in some emerging areas, here goes:

Parts of Brooklyn are getting a lot of attention - Red Hook, Bed Stuy, Clinton Hills. You may laugh, but 10yrs ago, nobody thought anyone would be paying $1800 a month to live in Ft Greene. Now people flock there. These are the kinds of places where you can still buy low, get a nice amount of space and hopefully ride it out until things get good. These areas can be suspect at times, but that can be anywhere in the city. DUMBOs a bit too played for my tastes.

As for Manhattan, Inwood has gotten lots of attention, but its too far for me. I live on the West Side and love it. I think the East Side is more stiff, but it does have lower rents (also more boring). The west side is so stroller friendly.

Hells Kitchen will be interesting if the stadium gets built. Harlem is getting its share of new co-ops and has undergone so much gentrification. It used to be DIRT cheap! There are some beautiful apts in Harlem and it tends to be a bit more neighborly than places like Chelsea or the UES where people live in the high rises but never speak to each other.

 

[oceanharlot]

I'm thinking of moving the NYC... :-) I love this thread!

 

[Pete]

All great points on all levels. Did anyone else see the huge development on Bowery. It will tower all. I hear great things about loft spaces in DUMBO and am a big fan of Surface. I used to live in the central village while still in school. Too loud, collegey for me. I find things I like about every neighborhood, so its not too big of a deal I guess. I love wandering around Nolita and was seriously looking at places there. The far west (8th to the West Side Highway from Perry to the high 20's) side seems to be a really happening spot.

 

[faust]

Originally posted by Theory@Aug 2 2004, 05:13 PM
OK, if you are really interesting in some emerging areas, here goes:

Parts of Brooklyn are getting a lot of attention - Red Hook, Bed Stuy, Clinton Hills. You may laugh, but 10yrs ago, nobody thought anyone would be paying $1800 a month to live in Ft Greene. Now people flock there. These are the kinds of places where you can still buy low, get a nice amount of space and hopefully ride it out until things get good. These areas can be suspect at times, but that can be anywhere in the city. DUMBOs a bit too played for my tastes. 

As for Manhattan, Inwood has gotten lots of attention, but its too far for me. I live on the West Side and love it. I think the East Side is more stiff, but it does have lower rents (also more boring). The west side is so stroller friendly.

Hells Kitchen will be interesting if the stadium gets built. Harlem is getting its share of new co-ops and has undergone so much gentrification. It used to be DIRT cheap! There are some beautiful apts in Harlem and it tends to be a bit more neighborly than places like Chelsea or the UES where people live in the high rises but never speak to each other.

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Tis true, but personally I wouldn't want to risk getting killed in Red Hook or Bed Stuy while hoping that the area gets gentrified. If I had money to buy something for investment, maybe, but not for personal use. Also, Red Hook is a pain to get to, the closest subway stop is far and ugly. Can't beat those river views, though.

FYI, as gentrified as Park Slope seems to be, every one of those townhouses has been robbed

 

[faust]

Originally posted by Pete@Aug 2 2004, 08:09 PM
All great points on all levels. Did anyone else see the huge development on Bowery. It will tower all. I hear great things about loft spaces in DUMBO and am a big fan of Surface. I used to live in the central village while still in school. Too loud, collegey for me. I find things I like about every neighborhood, so its not too big of a deal I guess. I love wandering around Nolita and was seriously looking at places there. The far west (8th to the West Side Highway from Perry to the high 20's) side seems to be a really happening spot.

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There is also a grand plan to make the 4th avenue in Park Slope a Brooklyn's Park Avenue. I don't know if it'll ever materialize. I suggest checking out NY Times on Saturday's - they have a decent Real Estate section (or use the online version like I do).

 

[Atelier]

Originally posted by Theory@Aug 2 2004, 06:13 PM
...10yrs ago, nobody thought anyone would be paying $1800 a month to live in Ft Greene. Now people flock there.

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My sister purchased her place here at the right time and her investment is going through the roof. It's awesome and even the crappy days of Myrtle Ave are numbered. I was just there last weekend and won't be surprised to see more improvements in two weeks when I'm there again. That's how fast it's moving.

 

[softgrey]

Originally posted by Theory@Aug 2 2004, 05:13 PM
OK, if you are really interesting in some emerging areas, here goes:

I live on the West Side and love it. I think the East Side is more stiff, but it does have lower rents (also more boring). The west side is so stroller friendly.

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LOL...you live uptown and have a kid...i'd be looking for different things if i lived uptown and had a kid...there are definitley a lot of families there...also in battery park city...or well...at least there were until 9/11...i don't know about now...
but if you're young and single...there's not much nightlife uptown and it's a long way from the action...

 

[softgrey]

Originally posted by faust@Aug 3 2004, 10:46 AM

FYI, as gentrified as Park Slope seems to be, every one of those townhouses has been robbed

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i know you've said that before faust...but it's really an over-exaggeration...i have many friends who have lived in park slope for 15-20 yrs without incident... and i've spent a good deal of time there myself...

where are you getting your info?...

 

[Theory]

It's not really that far away from the action SoftNGrey. I still get out and just hop in a cab, but to be honest, after 10, away from Broadway or Columbus, you would think you are in a Jersey suburb. It can get very quiet.

I have 2 kids but I'm still in my mid 20s, so I am no old foogie by any means , but yes, a part of the reason why I picked the UWS was because I have a family.

As for getting killed in Red Hook or Bed Stuy. May I ask, have you ever actually been to those areas, to actually absorb the surroundings and get a feeling for the area? Yes, Red Hook has some accessibilty issues (there's a ferry, does anyone use it???), and prices are lower because of this. There's some housing projects where a majority of the crime occurs, but to be quite honest, hardly anyone will bother you in Bed Stuy and sections like Stuy Heights are really nice. I've always found that people who never frequent the area rely solely upon what is covered on the 11:00 news and sometimes it just isn't so. It tends to be grossly over exaggerated. There is plenty of crime in the Village and robberies galore on the East Side. One would be surprised how certain crimes in certain areas are kept on the hush hush.

The original poster was asking about emerging markets and DUMBO is far from that, as is the West Village.

 

[faust]

Originally posted by Theory@Aug 6 2004, 07:34 PM
It's not really that far away from the action SoftNGrey. I still get out and just hop in a cab, but to be honest, after 10, away from Broadway or Columbus, you would think you are in a Jersey suburb. It can get very quiet.

I have 2 kids but I'm still in my mid 20s, so I am no old foogie by any means , but yes, a part of the reason why I picked the UWS was because I have a family.

As for getting killed in Red Hook or Bed Stuy. May I ask, have you ever actually been to those areas, to actually absorb the surroundings and get a feeling for the area? Yes, Red Hook has some accessibilty issues (there's a ferry, does anyone use it???), and prices are lower because of this. There's some housing projects where a majority of the crime occurs, but to be quite honest, hardly anyone will bother you in Bed Stuy and sections like Stuy Heights are really nice. I've always found that people who never frequent the area rely solely upon what is covered on the 11:00 news and sometimes it just isn't so. It tends to be grossly over exaggerated. There is plenty of crime in the Village and robberies galore on the East Side. One would be surprised how certain crimes in certain areas are kept on the hush hush.

The original poster was asking about emerging markets and DUMBO is far from that, as is the West Village.

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Sure, I've been there.

 

[faust]

Originally posted by softgrey@Aug 3 2004, 10:06 PM
i know you've said that before faust...but it's really an over-exaggeration...i have many friends who have lived in park slope for 15-20 yrs without incident... and i've spent a good deal of time there myself...

where are you getting your info?...

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also from some people who live there. of course to say that every townhouse has been robbed is an exaggeration; it was given to make a point that there is a higher risk in living in an area that is starting gentrification while still being (or being surrounded) a pretty rough area.

 

[Rochas]

bump!!