Have you heard the news? Bushwick is hot. “It’s what Williamsburg was in the ’90s [and] what SoHo was in the ’80s,” says Len Moroz, co-owner of Potion Café in the McKibben Lofts building. With the first several condo projects in the area having sold at well above expected prices last year, brokers (hardly an unbiased crowd) are predicting that more and more landlords will be converting their rental buildings to condos in the near future. So who’s going to buy all these new condos? “Artsy Yuppies,” says Douglas Elliman’s Lisa Maysonet, who’s had her hand in the sale of several new condos in the nabe. “They’re artsy in look and feel,” she says of the gentrifiers, “but not in occupation.” That is, they have a real paycheck but are still partial to the bed-head look. Do you think there are enough of these folks to fuel a continued condo boom in the area or do you not believe the hype?
Approaching the Summit [NY Post]
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