This place sold for $1.4 mm (failed development effort as far as I know) and the house at the North end of this block is listed on Corcoran and indentified as in contract with an asking price of $1.45 mm. The latter house would also require a gut reno. Hard to believe that the cost of a Boerum Hill shell is $1.4 mm. Both these bond street properties have attached garages. Any informed opnions as to the value assoicated with the garages. Other than rent (my gues is about $250 per space) are they developable? What's the value of a developable lot in Boerum Hill these days?

Posted by: Boerum Hill at November 20, 2009 7:32 AM in response to 150 Bond Finally Sells—For a Loss

What block/neighborhood are you in?

Posted by: Boerum Hill at October 9, 2009 10:11 AM in response to Dogs Barking...Constantly

What's gained by having two tax lots out of 1 zoning lot?

Posted by: Boerum Hill at September 24, 2009 10:33 PM in response to Tax Lot Divisions

Based on today's thread, it sounds like Ratner is already spending some of his Russian partner's money to get people to shill for his plan. The allegation that spoiled trust funders are blocking AY is ridiculous. If you went to any of the public hearings, you would have noticed that the pro AY participants were being paid to attend.

Posted by: Boerum Hill at September 19, 2009 7:25 AM in response to Russian Billionaire To Bail Out Ratner?

If there's any lesson from these past 3 years it is that liquidity is imporant. You're mortgage rate and payment are very reasonable. My advice is to keep the cash in a safe investment and to not touch it. If inlfation picks up, you can reinvest into something with higher yield. If inflation deosn't pick up, you can always repay later.

Posted by: Boerum Hill at September 16, 2009 6:20 PM in response to Pay Back Mortage or Not?

BK real estate veteran,

There will be a lot of people driving to the arena, that's why the AY plan provides for 1,100 parking places. The interesction of Flatbush + 4th & 3rd avenues is already gridlocked at rush hour.

Posted by: Boerum Hill at September 10, 2009 12:21 PM in response to Ourousoff Weighs In On Barclay's Center Design

If you're landmarked, DOB will not give you permit without Lanmark's approval too.

Posted by: Boerum Hill at September 8, 2009 2:11 PM in response to Extension Process

As a parent who raised 2 kids (now teenagers) on the top two floors of a Brownstone, I believe that it is possible to teach your kids to behave in a manner that won;t make life hellish for a downstairs neighbor. It helps if the downstairs neighbor is understanding while the teaching process is ongoing.

Posted by: Boerum Hill at September 7, 2009 9:21 PM in response to Running Child Upstairs

The qoute is unrealistic. The $120K referenced by another poster will be closer to reality (including soft costs such as architect etc.

Posted by: Boerum Hill at September 4, 2009 2:28 PM in response to Expensive Estimate?

The "Last Weeks Biggest Sales" post from earlier this week had 238 Wyckoff closing for $1.516 million. It too is 1/2 block from public housing. It was a nicer looking house than the Douglas St. property.

Posted by: Boerum Hill at August 27, 2009 2:55 PM in response to House of the Day: 86 Douglass Street

antidope gets the post of the day. funny!

Posted by: Boerum Hill at August 27, 2009 2:45 PM in response to Brooklyn Sales: Under a Million

I always think of Smith St. as being partly in Boerum Hill (and partly in Carroll Gardens) and that Cobble Hill ended at Court St. In my mental map both the Douglas Street house, and the section of Smith St. right near it, are in Carroll Gardens.

Posted by: Boerum Hill at August 27, 2009 2:42 PM in response to House of the Day: 86 Douglass Street

BHO,

I'd invert your analysis BHO. Over the long term, the economy (and population) drives housing. Not the other way around.

Posted by: Boerum Hill at August 26, 2009 2:52 PM in response to Reno Prices Down?

BHO,

I know I'm going to regret asking, but why is that "NYC, and Brooklyn in particular, lags"?

Posted by: Boerum Hill at August 26, 2009 2:33 PM in response to Reno Prices Down?

I used to live around the corner on Remsen between Court Henry + Clinton and agree with posters who say the street traffic is negative for this house. That stretch of Clinton gets a high volume of traffic heading to the Brooklyn Bridge, and traffic is often bumber to bumper. I also agree with posters who see the single family house as a postive. 1 rental at $3,000 per month could cover about $500K of mortgage. I'd rather have a single family for $1.5 million than a triplex + rental for $2.0 mm.

As for for the comment at 3:32 - if you sell something for more than you bought it for - you made money. At least that's what accounting textbooks and the IRS say. If there is an opportunity cost standard applied for not selling at or near peak, the same standard applies to potential buyers if they wait to buy and have to pay more because prices went up. Looked at that way, I've lost millions. I think I looked at 50-75 houses between 2000 and 2002, before buying in 2003. Even with the correction, most of the house I looked at would for a higher price today.

Posted by: Boerum Hill at August 25, 2009 5:20 PM in response to House of the Day: 182 Clinton Street

Moneyfornothing,

In Q4 2001 there were a lot fewer buyers in the market than there were today and it wasn't because of the dot com bust. It was because people were questioning whether or not to live in NYC. I had more second thoughts about buying then than I would today.

I don't know if you've ever bought a house before and I'm kind of wondering how long you've been living in NYC, but if you're looking for a risk free time to buy, there likely will never be one. Real estate is a long term investment and in NYC involves a ridiculous level of transactions costs at entry and exit.

I'm not going to talk about nationally, but for NYC, do you really think there are more headwinds now than there ever were before? There were other periods where the unemployment + inflation tandem was way worse. There was also a period where 2,500+ people per year were getting murdered.

Posted by: Boerum Hill at August 19, 2009 7:10 PM in response to Discuss: Headwinds & Tailwinds

Moneyfornothing,

There's a reason why successful traders get paid a lot of money. They have an ability to see through periods when there appear to be more headwinds than tailwinds. I'm not saying that's where we are right now, but in every cycle there is a time where everyone thinks things can only get worse, when in fact they are already getting better.

I started looking for a house in 2000-2001 before finally buying in early 2003. In late 2001 you had many of the headwinds that exist today including a weak eoconomy, rising unemployemnt, negative wealth efffect etc. On top of that you had to ask who wanted to buy a house in a City that had just been terrorized and was expected to be terrorized again. Put me in with the group that was surprised that NYC real estate proceed to go on a 5-year tear.

Posted by: Boerum Hill at August 19, 2009 3:08 PM in response to Discuss: Headwinds & Tailwinds

A little confused by these posts because I am aware of a 16"+ lot that was recently subdivided from from a larger lot. The newly seaparated lot had been part of a larger lot since the 1940s.

Posted by: Boerum Hill at August 19, 2009 2:50 PM in response to Separating Lots

BHO,

Owning should be more expensive than renting in the early years of ownership. When you buy, you're essentially locking in your cost of housing for 30 years. When you rent, your cost of housing remains variable. Over time, the cost of renting should become relatively higher than the cost of renting. i.e. At 5% inlfation (for rents not CPI), a $100 rent will increase to over $160 in 10 years while a $100 mortgage payment will still be close to $100 (excluding costs for insurance and taxes etc. which will increase). with ownership, you do have the potential for either a capital gain or loss whe. I don't know where real estate prices are going to go in the foreseeable future but would still expect that over 30 years, real estate values will increase, at least in nominal terms.

Posted by: Boerum Hill at August 19, 2009 2:43 PM in response to Checking In On 378 Baltic

Shahn Anderson,

Where did you see the sitpulation that the minimum lot width allowable in a partition is 17 feet? I've not heard that before.

Posted by: Boerum Hill at August 19, 2009 10:09 AM in response to Separating Lots

I think some distance from Smith St. is good. It's a frat party there these days and I'd prefer to have some distance from the noise.

Posted by: Boerum Hill at August 14, 2009 2:42 PM in response to Open House Picks

wilso26941,

It's not really akin to any of those things in terms degree. It's something done for aesthetic reasons. More akin watering a flower garden instead of leaving it as dry dirt. There's no practical reason for it. It's just nice. I'll stop myself now, because in the end it's really none of your business.

Posted by: Boerum Hill at August 13, 2009 3:07 PM in response to Outdoor Fireplaces?

toast,

The snarkiness on this site can be irritating. You have no idea what my carbon footprint is. I don't use air conditioners (I do have ceiling fans and want to install a whole house fan) and am amazed when I walk around on temperate evenings and hear the whine of air conditioners. I would guess that the energy someone to run central air for a month will approximate the natural gas energy I'll use for an outdoor fireplace over the next 5-10 years.

Posted by: Boerum Hill at August 13, 2009 2:30 PM in response to Outdoor Fireplaces?

I walk by this building every day and ehe work on this project has been stop and go. I'm guessing the project is harder than the owner expected. That said, the building will look great when the job is complete.

Posted by: Boerum Hill at August 13, 2009 10:35 AM in response to Powerwashus Interruptus at 312 Dean Street

Thanks for the constructive advice Petebklyn. The fireplace would be natural gas which every house on the block is already burning 24 hours a day as compared to the 2 hours a week I might use the fireplace. That aside, how it more "obnoxious" or "noxious" to use an outdoor fireplace than an indoor fireplace?

Posted by: Boerum Hill at August 13, 2009 10:28 AM in response to Outdoor Fireplaces?

There are several traditional ways to measure asset values. One of the them is replacement cost. An existing house shouldn't depreciate in value if the cost of building a new one increases (i.e labor costs and materials costs such as steel, copper, cement etc) go up over time.

Posted by: Boerum Hill at August 12, 2009 10:06 AM in response to DB: Half of Mortgages Will Be Underwater by 2010

It seems like a good percentage of the houses (frame + brownstone) that I've been in "sag". (i.e. there is a downward slope of the floor from one or both sides of the house). Seems like stairs also "sag". I think that's a lot different issue than if the exterior walls of the house are leaning.

Posted by: Boerum Hill at August 11, 2009 5:03 PM in response to Settling and Sagging House

What do people see as the risk in developing a 12ft. wide lot. That's a pretty confined work space. How safe is it to dig out a foundation in such a narrow lot? I assume there are structures on both sides.

Posted by: Boerum Hill at August 7, 2009 5:01 PM in response to Value of Lot in South Slope?

Miss Muffet,

Why is it hard to rent our an entire house? I wanted to do this before about, but there was just so little supply.

Posted by: Boerum Hill at July 31, 2009 2:19 PM in response to Open House Picks: Six Months Later

I looked at a 2 bedroon rental in this buidling back in 1994. The asking rent was $1,300, which seemed pricey to me at the time. That $1,300 now covers your montly taxes + common charge.

Posted by: Boerum Hill at July 30, 2009 2:08 PM in response to Condo of the Day: 44 Cheever Place, #505

I don't know about the market for a hotel of this type in this area, but 3rd + 4th avenue have changed significantly better. There's a growing amount of estaurants and night life in the area. Reminds me a little of Smith St. back in the early 90s when things started to develop there.

Posted by: Boerum Hill at July 29, 2009 11:04 AM in response to Inside Hotel Le Bleu's Restaurant

Brooklyn Greene,

A few points.

1. Rangel did not give up the apartments. He stopped using one of them for his campaign office. He still has 4 apartments for his personal (not professional) use.

2. I don't know the numbers on rent control, but according to City Data, there are 1 million stabilized apartments. That's a lot of apartments.

3. Household income would be below $175K for owners as well as renters. Owners also spend a huge % of their income on rent. My point is that it's not exactly progressive to offer a generally non means tested subsidy to stabilied + controlled renters.

Posted by: Boerum Hill at July 27, 2009 5:09 PM in response to Federal Life-Preserver Loans Target Sinking Borrowers

Does anyone else think posters on this blog tend to value condos over houses? I.e. Dikeman Street house that's 3,000 sf ft. plus gets valued at $725K while 1,200 sf Court St. condo with $1,400 monthly taxes/maintenance gets valued at $639K?

Posted by: Boerum Hill at July 27, 2009 2:25 PM in response to House of the Day: 49 Dikeman Street

If you're a rent stabilized or controlled tenant in NYC, you're getting significant help with your rent. Furthermore, if you make less than $175K, the value of the subsidy is subject to 0% tax. So, a lot of people have been helped with their rents in a very non-progessive way. If you're an owner looking to deduct mortgage interest expense, the value of your deduction at least decreases as your income rises. So that tax is at least progressive to some degree.

As an example, The Wall Street Journal today has a great Op-Ed bashing Charles Rangel who rents out 4 stabilized apartments in NYC while also owning a condo in the Domincan Republic. The difference between the regulated rent on those apartments and the market value of the rents in those apartments is a non-taxed subsidy.

Posted by: Boerum Hill at July 27, 2009 11:46 AM in response to Federal Life-Preserver Loans Target Sinking Borrowers

If the owner won't give you a mortgage contingency, I wouldn't sign the contract. You can get a pre-approval letter, which is different than a commitment letter. It's something you can show a potential seller that can help address any concerns they have about your ability to get a mortgage.

Posted by: Boerum Hill at July 24, 2009 4:16 PM in response to Commitment Let - Catch 22

It's an understatement to say that the building is worth more than the lien.

Posted by: Boerum Hill at July 23, 2009 2:31 PM in response to Foreclosure of the Week: 549 Henry Street

The rental duplex could cover about $700K of mortgage (assume $3,500 per month and 6.0% interest rate). If the asking price is $2.25 million then the buyer is effectively paying about $1.55 mm for the owners duplex with the burden of being a landlord. If I were still a buyer, I'd rather find a single family for $1.55 million.

Posted by: Boerum Hill at June 23, 2009 2:19 PM in response to House of the Day: 641 10th Street Revisited

For the people that have posted about using hardi board/hardi plank. What have peoples experience with cost been. I have a frame house with a capboard facade and a shingled rear facade. I am considering removing the shingles and replacing with hardi plank (would insulate at the same time). The project is about 650 square feet.

Posted by: Boerum Hill at June 22, 2009 4:58 PM in response to House of the Day: 329 Adelphi Street

havelc,

You're right that financing was available when AY was signed off at (sub-sidized financing at that). If the Developer had started the project when he wanted, he'd be defaulting on that financing as we speak because his project isn't economically viable

If we're going down the route of spending tax dollars on construction because its a jobs program, then the projects undertaken should clearly be for the public good and not for the benefit of private interests i.e. let's build some new schools or new parks (i.e. a non-cmmercial Brooklyn Bridge Park). Or rebuild the BQE. We don't need an arena that isn't going to make money or high end apartments that are going to get sold at a loss.

Posted by: Boerum Hill at June 22, 2009 11:54 AM in response to Big Week for Atlantic Yards Sweetheart Deal-Making

Alternate scenario to the one put out by havelc. Develop Don't Destroy did nothing to delay the project. The developer started construction just as the market was beginning to tank. The Developer pleads poverty and the taxpayer gets put on the hook for increasing its subsidy to an economically unvaible project. Result = taxpayers get to pay for an out of scale high end residential real estate project with few public amendities.

Posted by: Boerum Hill at June 22, 2009 10:21 AM in response to Big Week for Atlantic Yards Sweetheart Deal-Making

I think Petebklyn is right to suspect the reality of the 2006 $425K sale price. Shells were going for a mot more than that in 2006, even on a block that close to the Gowanus Houses.

Posted by: Boerum Hill at June 18, 2009 2:26 PM in response to House of the Day: 78 Douglass Street

I see several post commenting on the tripling of prices over 10 years. While price/rent ratio, price/income ratio and affordability are certainly key metrics to evaluate how much prices will decline(and I am in the camp that believes prices will continue to decline), I don't think you can leave out other factors like quality of life that determine buyers and sellers choices. I moved to Brooklyn in 1982 and have lived in several neighborhoods (Boerum Hill, Prospect Heights, Park Slope, Brooklyn Heights, Carroll Gardens + back to Boerum Hill). The change in some of these, and other Brownstone Brooklyn neigborhoods, has been remarkable in terms if added amenities (restaurants + entertainment options) and reduced crime. That is clearly a factor in the price increases over the past 10 years.

Posted by: Boerum Hill at June 18, 2009 11:50 AM in response to Bank Predicts NYC Market to Fall Another 40 Percent

IF you're seriosly considering buying something, do you really want to move twice within the next 1 to 2 years? The transition costs (broker fees + moving fees) and the hassle (new cable + phone + eveythring) would make me question whether it's worthwhile.

Posted by: Boerum Hill at June 17, 2009 4:32 PM in response to help with lease renewal

If you're in a landmarked area you will have to make a presentation to the community board.

Posted by: Boerum Hill at June 16, 2009 8:52 AM in response to Building Plans & Community Board

The problems identified are pretty standard. Rh's estimate is not unreasonalbe, though I think re-pointing will be more than $5-$10K. So you need a new stairwell, or are you just repairing broken stairs?

Posted by: Boerum Hill at June 15, 2009 2:10 PM in response to Do we walk? Need estimates?

For $3.8 mm I get to sleep in the basement and have a tenant bouncing around on my living room ceiling?

Posted by: Boerum Hill at June 15, 2009 2:04 PM in response to House of the Day: 3 Monroe Place

Brownstones 1/2 Off,

There wasn't anything "sneakily biased" about the last two paragraphs of my first post which said that (a) inflation is bad and (b) a fixed rate mortgage gives you fixed cost of housing over a long period of time. I think those comments are safely in the fact based category.

I didn't try to time the market when I bought and wouldn't try to do it know. It's a skill very few people have, and getting in and out of NYC real estate ownership is shockingly expensive. The closing costs associated with buying my NYC house were more than the total purchase price for a vacation house I bought later.

For right or wrong, I don't look at my house foremost as an investment, though I hope not to lose money on it. I've lived in my house for 6 years and hope to live in it for 10-20 more. While I was a happy renter for 15 years, including 10 years in one place, I wanted to own a house I could raise a family in. I looked until I found a place that I both liked and could afford. I'm glad that mortgage rates went down, but would have been fine living with my original rate.

As for Chicken, I fully understand what you're saying, which is essentially that it's better to buy when prices are low, even if rates are high. There's a chance you can change your mortgage rate, but no chance to change your purchase price. The working assumption is that you know when prices low. Maybe you do. Maybe you don't. It's a gamble either way. That said, your advice to the OP has merit. Since no contract has been signed, it is possible to re-negotiate. It could saver the buyer money. It could also kill the deal. The OP should consider doing it.

Posted by: Boerum Hill at June 11, 2009 7:30 PM in response to Interest Rate Jump

Chicken + Lechacal,

"People are funny about how hey focus on the wrong things". Just like you guys did.

My post offered no opinion about whether real estate prices will go up or down or whether or not this is a good time to buy. I don't know which way the market is going to go, and doubt that either of you does too. My advice was addressed to the original poster who has already made a decision to buy (they intend to sign a contract this Friday)and who was worried about the recent rise in mortgage rates. My advice stands. If you're going to buy, I think you shouldn't be put off by the recent increase in rates. In a historical context, mortgage rates they are still attractive.

I house hunted for a couple of years in before I bought my house in 2003. When I started house hunting, 30 year mortgage rates were between 7%-8%. I never thought rates would go much below those levels. I consider myself lucky that my mortgage rate today is 5.375%.

Posted by: Boerum Hill at June 11, 2009 4:56 PM in response to Interest Rate Jump

Go back to 1981-1982 when inflation was double digits. 30 year rates were 17%-18% with a couple of points. Interest rates today are still extremely low by historical standards. You always want to get the best rate, but in the relative scheme of things, 5%-6% mortgage money is very attractive.

I see a lot of posts about the negatives of inflation for homeowners. Inflation is bad for renters too. They are going to face inflation fuled rent increases. At 5% inflation, a $3,000 a month rent increases to nearly $5,000 over 10 years. At 10% inflation, a $3,000 a month rent increases to nearly $5,000.

If you're an owner with a fixed rate mortgage, your cost for housing will remain relatively constant.

Posted by: Boerum Hill at June 11, 2009 3:35 PM in response to Interest Rate Jump

I've been thinking about the same thing. Does anyway know the ballpark price for paving. The area I'm looking to do is 16 * 40', so 640 sf. The area is sloped, so I'm wondering if I should grade it?

Posted by: Boerum Hill at June 10, 2009 3:29 PM in response to Set pavers in concrete or gravel

Thanks to all who replied with their comments. It is just tough for all New Yorkers living in such tight spaces. NPR reports one million more people are expected in NYC over the next 10 years! Thank you again.

Posted by: vesnaspring at September 10, 2009 10:39 PM in response to Running Child Upstairs

Vesna- I had this exact issue with an upstairs neighbor a few years ago and ended up moving. Your neighbors reaction was near identical and we tried many of the tactics here, even offering to buy the carpet. For us, it was two young kids that would chase each other all over the apartment until we'd hear a large crash, crying, and then it would stop for about 1/2 hour. It frequently started at 7a on Sat/Sun. We had a chandelier over our bed that I had to remove the glass globes because the would rattle like a train was going by. The neighbor simply didn't care. I knocked on the door one Sunday at 8a after an hour of chaos and he said he was just trying to enjoy some fun time with his kids and I was bothering him by knocking on the door. It never occurred to him that I too deserved to "enjoy" my time in my apartment. That's when I knew it was a lost cause.
So, we moved after 6 months. I hate to be so negative, but people either care or they don't. Sounds like you have a don't. Btw, I have two kids, so it's not like I don't get it.

Posted by: archigoddess at September 11, 2009 8:20 AM in response to Running Child Upstairs

look.. a 5x10 single story extension seems hardly worth the effort. an architect will want $5,000 just to draft drawings and file the project. you're already at $100/sf before anyone comes in and performs any work.... I wouldn't be surprised if it costs even more than $600/sf in the end.

Posted by: zberlin at September 13, 2009 1:23 PM in response to Expensive Estimate?

20 years on the Street and a finance degree-- but it really just comes down to common sense--and there is a little bit of guess work. If you get the guess work wrong, don't kick yourself, no one has a crystal ball.

But I figure off the top of my head that you paying around $11-12k interest a year right now. That's 12k that just goes poof. Naturally, you get some tax write-off, but you also must weigh that against any supposed after tax return you would get on an alternative investment. Let's assume you get 4k of that back, so you are currently giving the bank 8k a year. Right now, if you find a 2 year CD that pays 2%, you're probably lucky. After tax, you're talking about 1.5% or less. That comes out to $2,500 a year. So IT IS GUARANTEED that you will save $5500 a year, or more, by paying off your mortgage.

About alternative investments-- there is no COMPLETELY safe investment currently available on this planet that will earn you better than 5.75% (or some after tax equivalent). Personally, I think the stockmarket will go up another 10% in the next few months and Apple stock over 205 a share-- but these investments have risk. DID WE NOT LEARN ANYTHING last year? On the other hand, think of paying off your mortgage. That is like an investment that is a guaranteed 5.75%. Very hard to beat. Maybe in a year or two 30 year Treasury Bonds MAY get there-- that is a huge MAYBE--but they are not 100% safe UNLESS you hold them for the entire 30-years. You can lose much principal if you have to get out before then. And I would bet dollars to donuts that 30-year rates will go up (and therefore prices down) significantly in the couple of years. That means if you buy 30-years, you could lose a lot of PRINCIPAL. Again, these are NOT 100% safe INVESTMENTS.

But for all intents and purposes, A CD is. Could CD rates eventually get above 5.75%? Sure, but don't hold your breath. Banks are not in a big hurry to move those rates up right now. They're borrowing from the Gov. and doing the carry trade until they get their crap together again. Banks are paying you a miserable 1%, or often less, to hold your savings, and loaning it to new mortgages for 5% plus. Or buying Treasuries and pocketing about 3% (tax free, I think). That's a big fat 3% or 4% spread that no one is in a big hurry (read: Fed Res.) to take away from the banks. the Government just bailed a bunch of them out. It's going to keep rates low for a while longer as an insurance policy on THEIR investment. one of the reasons the stockmarket is flying-- companies are going to make money hand over fist because their borrowing costs are going to be super low for another 6 months to 2 years. What kind of idiots would the government be if they poured billions of dollars into companies like AIG and GM, and then raised interest rates on them? Sure the Fed is independent, but Bernanke is on the team, and he is not an idiot.

Bottom line-- chances are pretty low that another 100% safe alternative investment that earns more than 5.75% is coming around the bend anytime soon. If anything with a maturity of less than 5 years earns 6% in the next 3 years, and maybe even 10, I would be pretty surprised.

ps the one very good reason not to pay the mortgage down is if you think that you will have to borrow money again soon for ANY reason-- (personal loan, credit cards, etc). That rate of 5.75% is very good historically. Don't trade it in for a higher one if you don't have to.

And make sure you keep a year or two of funds in something rock solid safe in case of emergency, pay off credit cards and the like IMMEDIATELY, and any other higher interest debt, and then I would pay off the mortgage. Why give the bank?

So, more often than not, paying down debt, ANY kind of debt, is a no-brainer. That alternative investment crap (marginal returns and so forth) is what they taught us in B-School and I swear by all that is Holy that it is a big chunk of the reason we got into the mess we are/were in-- a generation of MBAs taught to borrow every dollar they could until they stopped making more off the investment than the cost of borrowing. One problem professor-- your borrowing costs are locked in! the returns on your investment (read: biz opportunity) are usually not.

Ok, i'm done with my rant

Posted by: mikez at September 16, 2009 10:35 PM in response to Pay Back Mortage or Not?

Thank you to everybody who contributed to this thread. I genuinely feel like I learned something about inflation's effect on home owners and their mortgages.

Posted by: thecomputerguy at September 17, 2009 1:07 AM in response to Pay Back Mortage or Not?

I feel your frustration. I am writing this after being awoken by the 4 year old running upstairs (notice the time of post - 2:30 am) and have sought the counsel of many people on this topic -- friends with kids (my husband and i don't yet have children), sound technicians, people who were raised in brownstones. Overall, the consensus is generally that while kids need to run / play, there is a need to teach the child that they live in an apartment and that their behavior affects the quality of the life of the other people in the apartment.

Unfortunately, a small fraction of people who i spoke to - including the people who live about us and some who responded in this forum - truly believe that there's no way to stop kids from running. I have heard from and witnessed the parenting of enough people to know that kids can and do, in fact, learn how to behave when given proper boundaries.

I wish I had something more helpful, but from what I've gleaned on this subject, soundproofing is incredibly expensive and much more effective on the floor above (rather than the drop ceiling) and I think it's doubtful that neighbors who aren't considerate enough to put down carpets are going to go for anything re-constructive. and even with the carpeting (our neighbors have some area rugs, but bare floors in other places) the truth is that it makes marginal difference for loud impact noise.

You have the right to keep articulating your concerns -- It sounds like you've done so with respect and understanding. If they continue to be unresponsive, I would take it to the condo board. As someone who has also confronted my neighbors with this issue, I really understand your wanting to keep the good will. I hope your situation improves. After multiple attempts to improve this situation, I am just trying to hang in and remind myself this won't be forever. Eventually the kid will outgrow the running, they'll move, or we'll move...

Until then....

Posted by: ajhope78 at September 17, 2009 2:38 AM in response to Running Child Upstairs

Wow! I just came back to this site after posting my original question. Thanks you so much,everyone, for your thoughtful responses. Thanks,especially, mikez for your detailed response. I tend to agree with you! I also liked the idea of a spread sheet. Thank you very,very much everyone!!!

Posted by: momolito at September 17, 2009 8:10 PM in response to Pay Back Mortage or Not?

It is not really a bad thing if inflation starts kicking upwards. It will finally push the Federal Reserve Bank to push interest rates higher. Now that would mean trouble for the home owner that is paying off a mortgage with higher interest rates but it would also mean that the middle class american that that is saving does not get pennies for his money in the bank.

Posted by: hannible at September 18, 2009 2:36 PM in response to Pay Back Mortage or Not?

Whether it is only a Tax Lot Subdivision, or both a Tax and a Zoning Lot Subdivision, you'll need to file an application with both the City Surveyor's office and the DOB. You'll need a Registered Architect or a Professional Engineer, and an up-to-date signed & sealed survey. I've done the plans and permit expediting for a few of these in Brooklyn. If you subdivide into 2 Tax Lots and keep it as 1 Zoning Lot, your Zoning Calculations will need to be the aggregate picture of the 2 Tax Lots. You may need to amend the existing CO's for the lots to indicate that the Zoning Lot is comprised of Tax Lots 1 and 2 (or whatever their tax lot numbers are...) This stuff can be tricky, and you need to engage the proper professionals or you may spin your wheels for a year or two...

Posted by: Permitadvisor at September 25, 2009 6:05 PM in response to Tax Lot Divisions

We must live on the same block. I have the same problem out my back windows. The dogs bark at each other incessently. The barking only stops when one of them starts howling for hours on end. Its disturbing because of the neglect issue and also extremely irritating to remain in my apartment with that kind of noise. I also can't figure out which building it is coming from.

Posted by: mksk at October 9, 2009 11:32 AM in response to Dogs Barking...Constantly