Dave,

Really about the accounting. I did not know that. I love that I learned something new today. So I could not just make the two apartments an LLC and put them in there and then file business taxes? I have no clue, but I was pretty sure a gay couple friend of mine was doing this.

Posted by: LincolnSlope at November 19, 2009 4:15 PM in response to House of the Day: 540 Bergen Street

Tybur6, thanks so much for very clean and clear thoughts on this. I agree. I think ultimately it is a business decision. The one benefit is that as your principal goes down and you make business loss and mortgage deductions (assuming you have a large enough salary) this starts to make a bit more sense. Locationwise, my thought is that this is going to get better not worse. I worry, however, that the glut of rental apartments going into the market on 4th Ave and downtown brooklyn may bring down the rental that one can get on these units. Do you agree? Or do you guys think that the location makes it unique and separate from those buildings? Assuming the rent stays flat, my estimation not looking at the place is that $1.250 might even be an ok venture assuming a 5.5% morgage and assuming the individual buying it makes over $200k to get a max tax deduction. Finally, one can segregate the two units from the duplex using an LLC and then claim losses for the revenue v. expenses on those two units.

Also, how does this compare against the $1.5mm house that is on Sterling and has been on the market since the Reagan administration (or at least it seems).

Posted by: LincolnSlope at November 19, 2009 1:48 PM in response to House of the Day: 540 Bergen Street

I love Brooklyn, but how do so many people afford these prices? I make a good amount of money and I would feel so trapped if I spent it all on my property. What about costs that creep up like replacing things, extermination, etc.

Posted by: LincolnSlope at November 17, 2009 11:37 AM in response to Last Week's Biggest Sales

I have lived in a first floor apartment for 3 years and have never had a security issue (North Slope). You can install alarms in the windowns rather cheaply from Home Depot and put stickers on the windows.

Posted by: LincolnSlope at November 17, 2009 11:35 AM in response to First Floor Apartment Security?

I am Cuban and went to the one in SoHo which was actually really nice. I am looking forward to trying it!

Posted by: LincolnSlope at November 16, 2009 5:06 PM in response to Cubana Cafe Opens in The Slope

I know I am late responding but:

Rob, boyfriend is a normal term for someone one is dating. If you don't like the term, you can go back to your apartment by yourself, cry a bit, bitch about life, and then jack off, which I imagine is what you do on a daily basis with not much else going on.

FortGreene, who the f said I was living vicariously through others. I have a perfectly amazing life, with a great job and live in an awesome building. I have friends. I know it is hard for you to understand that, but it will all be OK. Just stop being a mean douch and I am sure you will find some as well.

Posted by: LincolnSlope at August 14, 2009 10:13 AM in response to Clarett, Goldman Lose Control of Forté

My friend owns the Penthouse in this building. I remember when I went with my boyfriend, he was kinda upset he bought in a pre-war building in North Slope because of how great the views from the Penthouse were. I, frankly, loved the views too and the access to the rooftop. That said, the building where my boyfriend bought recently sold an apartment (as in a month ago) for a bit over what he paid and with fewer renovations. So, I guess maybe it wasn't such a bad call after all.

On another note, do you think they are going to be deals in that building after this little switch-a-roo?

Posted by: LincolnSlope at August 14, 2009 9:42 AM in response to Clarett, Goldman Lose Control of Forté

Is that guy Rupert Giles from Buffy the Vampire Slayer. I doubt anyone here can get that reference.

Posted by: LincolnSlope at August 5, 2009 7:35 AM in response to Closing Bell: DUMBO Fight Night 2009

Ozzies is TOO EXPENSIVE. A large iced coffee there is over $3.25. The iced coffee at gorilla's is better and only 2.25. I think if this place prices well and looks pretty, it should work out just fine. We should all meet there for coffee. I'll probably head there on the way to the gym when they open. I now walk to Gorilla and then to NYSC as my ritual.

Posted by: LincolnSlope at July 9, 2009 3:40 PM in response to Streetlevel: Coffee Shop Coming to Berkeley Place

I am sure it has been asked: Why Return of Randolph? Was he kicked off?

Posted by: LincolnSlope at July 9, 2009 10:06 AM in response to Open Thread

No comments about Sarah Jessica Parker moving to Park Slope?

http://gawker.com/5306233/sarah-jessica-and-matthew-fleeing-to-brooklyn

Posted by: LincolnSlope at July 2, 2009 11:27 AM in response to Open Thread

Heather, forgive me if I sound like a dick, and I think we are both in the same position wanting prices to get cheaper, but I would really hate to live in either of the sides of Manhattan. I would also hate to raise a family there, if that time ever comes. So, I am not looking to ridiculous Manhattan douchbag buyers prices to tell me how bad the correction will be. Also, a seller in my building just put his Park Slope 1-bedroom apartment on the market and it went into contract in 4 days. Also, for more than any other apartment has sold in the building. So Manhattan v. Brooklyn, be damned.

Posted by: LincolnSlope at July 1, 2009 11:48 AM in response to Checking in on The Elan

MoneyforNothing,

I was creating a fantasy in my head about Fort Greene. Thanks for bringing me back to earth. Also, I got a great laugh out of the dump greeting you at the door. I needed that!

Posted by: LincolnSlope at June 26, 2009 3:21 PM in response to Open House Picks

God I leave for a couple of weeks and the What gets all soft. For someone that really cared it was like "please don't take away my privileges, I am fine now." Way to fold brah.

On another note Operating on the assumption that he never touched a child, I appreciate MJ being who he was. This world is so full of conformist, you could never call him that. He just did what he wanted to do. He named a mouse, kept a monkey (what happened to Bubbles?), sang, jumped on cars. He just did whatever, and maybe it was because he had money. He added life to the world and kept on trekking. He was no saint (paid hundreds of thousands to slaugher animals to put a curse on Stephen Speilberg) but he was unapologetic about being nuts. But everyone thought of his like a crazy uncle. I, for one, will miss the color he brought to everything.

Posted by: LincolnSlope at June 26, 2009 10:06 AM in response to Open Thread: Michael Jackson Edition

Maybe someone can explain this to me...

We have known for a long time that inventory is just going way way way up in Billyburg and yet people are still buying stuff there. Why? You can get the same rental for cheaper and there is no possible way prices will go up from here in the next two years. Is it because interest rates are low so people figure they will stay there long enough for things to bounce back? Is it because of the potential for inflation? It can't just be the neighb or the apartment since you probably have thousands very similar to choose from? Also, people can buy in the East Village which is similar in make up and grouping to Williamsburg. Thoughts?

Posted by: LincolnSlope at June 26, 2009 9:53 AM in response to Rising Inventory Bad News for Burg

And I hate to say it, but location would be kinda a factor for me. I LOVE the Slope in an unhealthy way, but that particular location would make it so I would be able to crack a wallnut with my gluts. Think about it: you walk down the stairs (four flights) and then you walk back up because you forgot your phone, then back down to only walk another long set of blocks to the F train which takes forever to get to Manhattan where you probably work. Sounds like a pain in the...

Posted by: LincolnSlope at June 15, 2009 2:18 PM in response to Co-op of the Day: 152 Prospect Park West, #4B

OK, the layout would drive me crazy. The two bedrooms opening right up into the living room. It would feel really uncomfortable. To spend this much on an apartment, I don't want my kids wall right up against mine either. If you are, um, talking, you don't want them to hear everything. Maybe it's just me?

Posted by: LincolnSlope at June 15, 2009 1:49 PM in response to Co-op of the Day: 152 Prospect Park West, #4B

Yeah, I mean I have been reading this blog for a while and Miss Muff loves fear. It is what makes that price so much better for her. I am in the same place since I want to buy in a few years, but I don't constantly scare people about the end of life and value of property, etc. Who knows what will happen. You now live in a rental while your kids are growing up. That might be fine for you, but I am sure you spend all the time thinking about where you will live and where you can buy and all that stuff. Thinking about how your kitchen is not what you really want or could afford and instead just settling. (Not that renting is bad, but if you are constantly thinking about how its not where you really want to be and are just thinking about prices of brownstones it is.) Just relax. We could have massive inflation because of the US$ printing and you just missed an opportunity. Who knows? Just be happy.

Posted by: LincolnSlope at June 12, 2009 4:35 PM in response to Open House Picks: Six Months Later

DIBS, that makes sense. I use to have this fantasy about having a brownstone and renters to help pay the mortgage. After being in New York for two years and hearing all my my friends (who are normally level headed) complain about every little thing in their apartment to the landlord. I want to come home and escape, not know that there are two other sets of people that may be looking for me to fix their [____]. It no longer becomes a santuary. I know this is the the average experience, but there are so many renter nightmare stories it scares me to have to deal with that situation even if only for a year.

Posted by: LincolnSlope at June 12, 2009 1:43 PM in response to Open House Picks

How much do you think the President House will really sell for? I think its beautiful, and each of those apartments will probably get at least $1,800? Not sure, but I think if you brought it down a bit it wouldn't be a bad price, especially if we get painfully massive inflation soon.

Posted by: LincolnSlope at June 12, 2009 1:30 PM in response to Open House Picks

Too bad the Sunset Park house comes with a zombie.

Posted by: LincolnSlope at June 12, 2009 11:51 AM in response to Brooklyn Sales: Under a Million

Rob, I say write the letter, be extremely gracious, and then the day she does it again, encourage your dog to eat the yappy dogs. That is ridiculous. I find owners of yappy dogs more annoying than owners of yappy kids running around Brooklyn and Manhattan and being allowed to do whatever. The people in this city just forget there are others and that their actions might affect others. Also, HATE TINY DOGS. Alright, hope everyone is well.

Posted by: LincolnSlope at June 8, 2009 11:17 AM in response to Open Thread

What part of town is this place in? Some neighborhoods are easier than others frankly.

Posted by: LincolnSlope at June 5, 2009 12:27 PM in response to Roof Deck Not Up To Code

11217, we have to grab coffee at some point in the Slope, from another 11217er!

Posted by: LincolnSlope at May 26, 2009 2:25 PM in response to Open Thread

Yay, 11217 is back!

Posted by: LincolnSlope at May 26, 2009 1:52 PM in response to Gowanus Super 8 Opening Soon

This place is great, but are you kidding me with the price. Maybe they had a bidding war back in the day and then rejected the offers and overshot on the new price. I am trying to explain it myself. It seems like a great home, but please give me a freaking break with the price.

Posted by: LincolnSlope at May 26, 2009 1:41 PM in response to House of the Day: 243 Kane Street

Thats what I thought. Should be a fun time. I have some guests from out of town, but it would be fun to pop in while they are shopping or whatever. Where and when?

Posted by: LincolnSlope at May 22, 2009 5:22 PM in response to Open Thread

M4L, as much as I love DIBS, not interested in that way. 1)Seeing someone 2) I hope he covers it up, the way that boy talks. And I thought you were straight? :)

Posted by: LincolnSlope at May 22, 2009 5:03 PM in response to Open Thread

Is there a drinks thing this weekend? Where? Is DIBS going. I want to meet the crazy bastard that I love. HA!

Posted by: LincolnSlope at May 22, 2009 4:24 PM in response to Open Thread

LOL, I just read your response CH. I got myself excited. I wonder what he's up to. I wish he would just get over the drama. I miss him.

Posted by: LincolnSlope at May 22, 2009 3:36 PM in response to Open Thread

OK, scratch that. Was linked to an old open house thread by mistake. Damn. Hope everyone's excited for the weekend.

Posted by: LincolnSlope at May 22, 2009 3:33 PM in response to Open Thread

11217 yay!

I am probably late to the game but JUST NOTICED 11217 posted in the open house thread. I am so excited your back 11217. I missed reading you!

Posted by: LincolnSlope at May 22, 2009 3:31 PM in response to Open Thread

http://abovethelaw.com/2009/05/quinn_emanuel_redskins_reservations.php

BTW, I was dying to throw the above link to you guys to hear what you have to say about it. I thought it was hilarious. In this economy, if you can be a CORP attorney and do that making $160k, you are my hero...ish.

Posted by: LincolnSlope at May 20, 2009 12:56 PM in response to Open Thread

DH et al. on Miami,

The biggest issue is maintenance and assessments in Miami (not to mention the prop taxes but we'll talk about that later). FL has no income tax, so they prop tax the hell out of people. In terms of main and assess, the problem is most of the lux buildings have multiple foreclosures and other issues making the few people in the buildings have to pay the maintenance for the others. Also, if something breaks code or whatever, the nut has to be divided among the few paying maintenance because it has to be paid. A house is probably the best bet and it is probably the best time to buy, or will be in like 6 months when people realize that its not gonna be a V shape. I would love to buy an OK house in a great neighb in Miami next year. We shall see.

Posted by: LincolnSlope at May 20, 2009 12:49 PM in response to Open Thread

I meant to say "you have no idea."

Posted by: LincolnSlope at May 18, 2009 1:26 PM in response to Will Everyone Go Running Back to Manhattan?

Etson and Dirty Hipster,
You have no clue. I try to be a great host because I feel like it is one of the things I have realized from my travels: Foreignors are much better hosts! I alwasy want people to leave visiting me to know that I did the best I could to give them an epic stay. My only regret was that I did not get to take them to WIlliamsburg for a show but next time. I took them through a 30 minute walk through Central Park and to have drinks at the rooftop of the Met on Saturday. We barely slept all weekend. Last night at like midnight after the Union Hall drinks we were nice drunk after all the food and drinks and I took them of a quick walking tour of Park Slope down 3rd street to the Park, past the pink house on Garfield and then back to the park toward Grand Army Plaza. It was a beautiful night. Friends are great. :)

Posted by: LincolnSlope at May 18, 2009 1:12 PM in response to Will Everyone Go Running Back to Manhattan?

I had some guests visit this weekend. Saturday I took them around NYC to the Villages, SoHo, Upper East Side. Then on Sunday I did the Brooklyn thing including Clover Club, Robin Du Bois, Union Hall, and Al Di La. Their response was the same as mine. Manhattan was kinda OK, but in the words of my best friend after our brunch at Sarabeth's in the Upper West Side "If I had to live among these douchey weirdos who put ascotts on their 3 year olds I would punch my own face to pass out and forget I existed." There are plenty of douches in Brooklyn, but all in all, its just a great place to live. I can afford to live in Manhattan and from the moment I moved here, I bypassed Manhattan and went straight for Brooklyn. Would never ever ever live there. FInd for work, but just feels Diney, superficial, and kinda gross.

Posted by: LincolnSlope at May 18, 2009 12:34 PM in response to Will Everyone Go Running Back to Manhattan?

Benson and DIBS (fits for both)

That's what he said.

Posted by: LincolnSlope at May 15, 2009 2:12 PM in response to Open House Picks

What, thanks for clearing that up. Either way, I find agree that things are messed up, and I enjoy hearing your take, as inarticulate and angry as they may be.

Infinit, HAHAHAHAHA, so true. I mean a lot of 55 year olds (particularly the steroidal ones that work out at Equinox, can kick my bum.

All, I saw someone with an I <3 Pirates t-shirt in the Slope the other day and thought "Too soon pregnant woman, too soon."

Posted by: LincolnSlope at May 15, 2009 2:09 PM in response to Open Thread

Yeah, I know, but the What mentioned that you said something and I figured you wouldn't want to repeat it to stoke the flames. But you obviously really hurt him. He was crying in his weird way.

Posted by: LincolnSlope at May 15, 2009 1:26 PM in response to Open Thread

DIBS, What did m4l say to the What that he now wants repeated to his face? This seems oh so dramatic. Like a bad episode of queer as folk or something. Gentlemen behave!

Posted by: LincolnSlope at May 15, 2009 1:11 PM in response to Open Thread

Wow Dibs, is m4l hot. I should have gone to this thing. DANG work!

Posted by: LincolnSlope at May 15, 2009 9:45 AM in response to Open Thread

You guys should make 4th Ave Pub the next spot. I love that place.

Posted by: LincolnSlope at May 15, 2009 9:43 AM in response to Open Thread

NOOOO! TownhouseLady, you are suppose to be old, and stern, but in that I wish she was there during the Apocalypse to make things OK and calm every one down sort of way. All well, your young and fun and interesting. I will deal.

Posted by: LincolnSlope at May 15, 2009 9:42 AM in response to Open Thread

I have these images of everyone, it would freak me out to know what you all actually look like. Townhouselady has a white haired huge bun in her hair, for example.

Posted by: LincolnSlope at May 15, 2009 9:33 AM in response to Open Thread

Sad I missed it guys. Was 11217 there? He just up and disappeared!

Posted by: LincolnSlope at May 15, 2009 9:19 AM in response to Open Thread

Great deal on the South Slope place, although I don't know what it looks like inside. If its rentable, and they put $200k down, they could be covering a chunk of the mortgage with their units.

Posted by: LincolnSlope at May 14, 2009 11:56 AM in response to Brooklyn Sales: Under a Million

"You late Dumbass! I broke that story last week! And guess what?? You membership is 'Null and Void'!!! Charging 95 dollars a month is sure "Revenue Growth"!"

Now, is this the What from a few years back. I never knew he had such bad grammer. This has to be a fake. A missing article once in a while and poor spelling is one thing, but consistently writing "you late" instead of "you're late" or "you membership is". AND now he will quote me and write "You is a asshate" and whatnot...

Posted by: LincolnSlope at May 13, 2009 4:12 PM in response to Open Thread

Dang. I guess I'll continue jogging to NYSC. IT just would be so much more convenient on Flatbush. That said, I love the open upstairs feel of the South Slope NYSC.

Posted by: LincolnSlope at May 13, 2009 3:01 PM in response to Open Thread