Brooklyn Versus Manhattan: The $1M Chasm

The Real Estate compares and contrasts based on the second quarter Miller Samuel market reports. Eh, what's $1,081,288?
Brooklyn vs. Manhattan: A Handy Price Guide [TRE]

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call me an optimist(or an asshat... I can't help but see that huge gap as what makes Brooklyn somewhat "safe". Brooklyn, won't crash unless Manhattan comes down as well.It is desirable, affordable in contrast for Manhattan, has opportunity for growth in services and amenities, etc. Not that Manhattan can't crash but it would be a result of so many other problems that I won't really care about real estate at that point.

Posted by: AndYouWillKnowUsbyTheTrailofRenters at July 10, 2008 2:55 PM

who wants to live in brooklyn anyway. Might as well move to NJ.

Posted by: guest at July 10, 2008 3:04 PM

I'd like to see the numbers of how many condos & coops there are in Manhattan as compared to units in Brooklyn. Those numbers indicate that each owner of a comparable Manhattan "unit" could buy 2-3 Brooklyn "units"

Posted by: daveinbedstuy at July 10, 2008 3:05 PM

Deal with reality or reality will deal with you:
http://money.cnn.com/2008/07/09/news/companies/benner_fanniefreddie.fortune/index.htm?postversion=2008070914

Posted by: guest at July 10, 2008 3:33 PM

Nothing in the stats says apartments are comparable.
Does not indicate size, # of bathrooms, baths, condition, age, financial stabilty, month maint or condo tax, etc, etc, etc.

Posted by: guest at July 10, 2008 3:35 PM

worthless comparison. Brooklyn has so many different neighbirhoods and types of housing this tells you nothing. Are they comparing a house in East NY to Soho.

Posted by: guest at July 10, 2008 4:09 PM

Exactly 4:09. They should do this comparison with the five most desirable neighborhoods too.

Posted by: guest at July 10, 2008 4:21 PM

If it compares all areas of Brooklyn with all of Manhattan it should be a useful comparison, with better and worse areas in each. You could easily reverse it and say if they are comparing something in prime BH with something in Harlem that makes no sense either.

Posted by: AndYouWillKnowUsbyTheTrailofRenters at July 10, 2008 4:37 PM

Uh...comparing BH to Harlem, you'll probably find prices are pretty close! Depends on where you're looking in Harleem.

Posted by: guest at July 10, 2008 6:37 PM

6:37 is correct...I did a lot of looking in UWS Harlem as I was comparing housing stock & prices in Brooklyn. Hell's Kitchen is a great central location but there's no interesting architecture which is what I was looking for.

The cheapest in Harlem was a "shell" for $1MM

Posted by: daveinbedstuy at July 11, 2008 8:31 AM

Reality a la 3:33...

"If Fannie or Freddie failed, it would be far worse than the fall of [investment bank] Bear Stearns," says Sean Egan, head of credit ratings firm Egan Jones. "It could throw the economy into depression or something close to it."

"The Federal Reserve and the Treasury have taken great pains to point out that the government is not obligated to bail out either Fannie or Freddie if they face insolvency."

As NYC home prices fall like autumn, The What's credibility rises like a phoenix.

Posted by: guest at July 11, 2008 3:44 PM

test

Posted by: guestula at July 14, 2008 9:19 AM

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July 10, 2008

Brooklyn Versus Manhattan: The $1M Chasm

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