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September 19, 2005

The Times Gets Hot for Bay Ridge

bay ridge
The Times was giving it up for Bay Ridge this weekend. The theme of the piece was that more and more folks from Park Slope and Manhattan are waking up to the relative value (30-40% cheaper) available in the traditionally working class nabe. Along with the expansive waterfront looking out over New York Harbor and Downtown Manhattan, the lovely limestone houses are the main attraction. One couple moving from Toronto recently picked one up on 78th Street for $845,000. The article rightly notes that a similar house in Brownstone Brooklyn would easily fetch $500,000 more. (Sherman Street in Windsor Terrace pops to mind as an interesting comp.) All in all, two big thumbs up from the Grey Lady, with the only complaint being the somewhat limited parking.
More for the Money [NY Times]




Comments

Now that we think about it $845,000 for only three floors is still probably about $350 a foot...Still not giving it away.

Posted by: Brownstoner at September 19, 2005 10:35 AM

I moved here a year ago, paid 725K for 1910 vintage limestone, 2600SF of fully
renovated, mostly updated, somewhat detailed, "move in condition" (yet not purr-fect) home (in one year we only have spent money on paint).

Where can you find that today in Brooklyn even for 800K??

Posted by: Anonymous at September 19, 2005 11:07 AM

while i didnt go to this OH, there are still 800K house to buy here....

http://www.ahrlty.com/227-799/227.html

Posted by: Anonymous at September 19, 2005 11:16 AM

Admittedly, it's hard too. But since most brownstones are 4 floors and 3,200 sf or so maybe a better question is where can you find one of those for $1.1 million. You get the same answer (not many places) but best to make sure you're comparing apples to apples--which is why we thought of the Sherman Street comparison, where there are mostly 3-story,rounded-front houses.

Posted by: Brownstoner at September 19, 2005 11:16 AM

OK, but that Sherman house is 1.3MM and it saz
you need to update kitchens etc, for 800-900Kish in Bay Ridge, you get completely updated homes, so it seems 50% more apples, p.s thanks for doing this site!!!

Posted by: Anonymous at September 19, 2005 11:43 AM

O Well... There goes the nab... Bay Ridge Rocks, Get in while you can...

Posted by: david at September 19, 2005 12:31 PM

My wife and I are looking for a place in Brooklyn and recently checked out a limestone in Bay Ridge. We also looked at a similarly priced Park Slope Co-op on a great block.

We're debating which one is a better fit for us. I prefer the limestone because it has more character and much more space than the co-op. My wife prefers the co-op because the Slope is a more established area and her commute to Midtown would be shorter from Park Slope.

I also like that the limestone has a small backyard while the co-op has no outdoor space.

I also like the idea of owning a house better than owning an interest in a corporation.

Has anyone encountered a similar scenario? If so, how did you resolve it?

Posted by: Anonymous at September 19, 2005 5:34 PM

Hands Down Bay Ridge over Park Slope. Sark slope is so over.... YUCK...

Posted by: swell at September 19, 2005 7:05 PM

test the commute for a day or two..if will probably get to you after a while. also, do you care about the differences in the shopping/amenities?

Posted by: Anonymous at September 19, 2005 8:35 PM

I live in Bay Ridge and the commute does not effect me that much. While other parts of brooklyn may be closer to your work, and have better amenities, none of that is worth more than own home/back yard IMHO.

Posted by: Anonymous at September 19, 2005 9:03 PM

I Agree, not only back yards but better schools, Harbor and Bridge views, and shopping. How can you compete with Century 21 department store? Sure Bay Ridge doesn’t have a coop food market, but they have the best specialty food stores in Brooklyn. Italian, Greek, Scandinavian ( the only ones left in NYC are in Bay Ridge)Middle eastern. And China town is a stones throw away. I used to go to the city to buy my specialty produce, but I found Bay Ridge has it cheaper and Fresher. I hope the market doesn’t catch on to this neighborhood; it's the only real Brooklyn neighborhood left. If you hate the Police or Fire Department, than you'll hate Bay Ridge, they have a close relationship with their civil servants, that's why crime is non existent there

Posted by: Anonymous at September 19, 2005 9:33 PM

Forget the Limestone’s, Bay Ridges Victorian Houses are the best in Brooklyn, better that Ditmas park, IMO... Just take a bike ride along Shore Road, wholly crap, the Victorian mansions are spectacular. This is what Brooklyn really is about. Good luck trying to pick one of these up on the market. Houses in the Ridge are handed down in the family.

Posted by: Anonymous at September 19, 2005 9:37 PM

Did you know the Sanitation Commissioner is a Bay Ridge resident? No wonder the neighbored is always ranked the cleanest neighborhood in Brooklyn. Another plus for the Ridge over “Dirt Slope”

Posted by: Anonymous at September 19, 2005 9:40 PM

The head of the Brooklyn Division of the NYC Department of Parks and Recreation also lives in Bay Ridge.

Posted by: GreenDog at September 19, 2005 9:46 PM

Still segregated and long commute. No tofu at chinese restaurants. Very blue collar Brooklyn.

Posted by: Anonymous at September 19, 2005 10:50 PM

The Aguayo house listed http://www.ahrlty.com/227-799/227.html is an interesting case. It was on the market for over a year and kept dropping price. It finally sold for under $599K. Two issues: one is minor--it's right next to a school, playground and all, lots of pedestrian traffic. One major: the house has/had an extreme case of the lists. As soon as you walk in you feel like you're on The Poseidon Adventure right before it flips over. In some spots it is close to 6" But it had some lovely details (great pier mirror). Anyway, it's now a flip. They did some minor reno (I'd say 35K), staged it and as far as the lilt they took the band aid approach: futzed around with the level of the floor, so much so that there is now a step from the hall into the living room. It's a bit weird and the list is still there but less noticeable. And now they are asking $799.

Posted by: Anonymous at September 20, 2005 12:40 AM

I looked at that house on 78th street mentioned in NYT. It was very narrow (16')-- so narrow that an owner at some time removed all the walls in the parlor so that the entry hall, parlor and center hall were all 1 big room. It was very odd. It also has 3 bedrooms on the second floor that read more as two because while the MBR faces front the two back bedrooms are railroaded so that in order to get into one you must pass through another.

Posted by: Anonymous at September 20, 2005 12:52 AM

Hey, are we talking about Bay Ridge or Beirute? Have you taken a walk on 5th ave in the 70s recently?

Posted by: Anonymous at September 20, 2005 3:49 AM

Why is it that some folks need to trash Park Slope in order to feel better about their own nabe? It comes down to a matter of preference. I've spent a lot of time in Bay Ridge and have friends there who love it. But, you could not pay me to live there. It's too blue collar, too conservative, too far from Manhattan, and lacks many of the amenities I want.

Yet, I can appreciate that it is an excellent choice for many folks. Just depends on your priorities, your budget, and what kind of environment you'd feel comfortable in.

Posted by: Anonymous at September 20, 2005 9:44 AM

uhm, didn't you just turn around and trash Bay Ridge?

Posted by: sba at September 20, 2005 11:15 AM

Good point, but the last poster was stating things that are true about Bay Ridge, whereas some of the other posters are just being inflammatory and saying Park Slope is so over, or it is "Dirt Slope" etc. Bay Ridge is blue collar, it is conservative, it does not have the amenities of some other Brooklyn neighborhoods, it is further from Manhattan. That said, it is a nice neighborhood and it does depend on your preferences for what is most important to you.

Posted by: Anonymous at September 20, 2005 12:10 PM

The Bay Ridge neighborhood.

BR is a very large area spanning from 65th St to 100th St.
There are several areas within that vary architecturally and economically.
limestone/brick row houses, large suburban homes (some mansions), low rise coops.

The commute to Manhattan may be 15 to 20 minutes longer. Fortunately most houses have driveways and garages.

Bay Ridge does have major assets (1)Shore Road Park/Owls head Park: a massive waterfront park with bike path. (2) 3rd Ave a thriving commercial street with many restaurants.

One major advantage of this community is that it remained stable during the period when most of downtown and north Brooklyn became a rundown crack infested impoverished area.

There are no abandon buildings...absolutely no housing projects...and no crack smoking knife welding people.

As for Bay Ridge's segregation being a negative I think that’s actually quite funny. There is diversity in Bay Ridge: European, Med/Middle Eastern, and Asian.

When areas are predominately white/European in NYC people say they are segregated. When areas are predominately Black or Hispanic people claim that those areas are diverse. Diversity means multiple groups not a sprinkle, and not just the presence of Black and Hispanic people.

When I go to BedStuy or say Sunset Park I do on occasion see a white, Asian or Middle Eastern person but let’s be honest BedStuy is more segregated than Bay Ridge.

There are areas in Brooklyn that area all white European Bay Ridge is not one of them.

BR is not only Blue Collar. Bay Ridge has a lower middle, middle and upper income/asset classes. Even the Upper East Side has residents in a range of income/asset class. 5th Av/Park are completely different than York Av.

Regarding the actually house on 78th St. A driveway or garage is a must in this area. Buyers almost always want private parking. Without this the price and time on the market are greatly hurt.

Posted by: Anonymous at September 20, 2005 12:18 PM

Very good point about the use of the term "diverse" to describe neighborhoods...

Posted by: Anonymous at September 20, 2005 12:23 PM

"you couldn't pay me to live there" is pretty inflamatory in my book.

you can argue for/against anything without making disparaging comments either way, that's all i'm saying.

that being said, and to get back on topic--i'd chose the limestone over the co-op for the sole reason that i'd prefer not to have someone living above me. but, if you don't work a regular 9-5 job and your commute is a lot longer, this would cut into your family time (which is paramount in my opinion).

Posted by: sba at September 20, 2005 12:55 PM

Actual address: 227 87 St Brooklyn, 11209
from NYTimes AD. I checked the width on Propertyshark and it is indeed 20ft wide.

Posted by: Anonymous at September 20, 2005 1:18 PM

"You couldn't pay me to live there" was intended as an expression of personal preference, not an insult. It would have been an insult if I had not also gone on to say that I "could appreciate that it is an excellent choice of many others."

Read the entire message. Anything can be twisted by taking it out of context.

Posted by: Anonymous at September 20, 2005 4:06 PM

"BR is not only Blue Collar. Bay Ridge has a lower middle, middle and upper income/asset classes. Even the Upper East Side has residents in a range of income/asset class. 5th Av/Park are completely different than York Av."

While the above comment may be true, the overall culture of BR residents and businesses is overwhelmingly conservative and blue collar. I dare say that is not the case in UES.


Posted by: Anonymous at September 20, 2005 4:09 PM

You could also have completely left out that sentence and your point would have been made, no? I don't live in either Park Slope or Bay Ridge, so I have no reason to twist things out of context...

Posted by: sba at September 20, 2005 4:33 PM

In response to:
"the overall culture of BR residents and businesses is overwhelmingly conservative and blue collar."

That's total bull. Bay Ridge is a very large area geographically. Whoever made this comment has not visited the area in its entirety.

Many blocks in the two posh enclaves of the Bay Ridge area: Harborview Terrace and Dyker Heights have mansions selling for over 2 million. Many ivy league graduates, private schooled professional live there.

For example look at Brooklyn Heights: Columbia Heights is very different from Court St.
Park Slope: Montgomery Pl is extremely different from 4th Ave. If you only saw 4th Ave/Court St. you would have a misperception of Park Slope/Brooklyn Heights.

What is the issue with blue collar anyway? Not all blue collar professionals are uneducated or lacking class. Do you know how much contractors get paid?
My 15,000 bathroom and 25,000 kitchen sure is making someone well-off.

Posted by: Anonymous at September 20, 2005 5:01 PM

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