newtothis's Profile

Name:
In Brooklyn Since:
On Brownstoner Since:
Location:
Neighborhood:
Abode:
Profession:
Sex:
Age:
Website:

Author's Posts

May 12, 2008

Returning to brooklyn - advice sought

Hi all -- could use some neighborhood and broker recs. My husband and I are relocating back to the area after several years away (I used to live in park slope), and he's starting an entry-level (ie not super high paying) job on wall street that will require him to be there by 6:30am. I'm having a baby in the fall, and probably won't be working again until spring next year. We want to pick a bklyn neighborhood to rent in with an eye towards buying later. First, I could really use some leads on good, brooklyn knowledgeable brokers who can help with relocation rentals (someone previously posted about how frustrated they were when they went to an open house and the staffed agent didn't even know the nearest subway). Second, we're not sure which neighborhoods to focus on, since we've been away. Advice?

Thanks!

Author's Comments

PS I should also add that we will need a 3br because we live with an in-law, and can't tell which neighborhoods have more of those in stock.

Posted by: newtothis at May 12, 2008 12:17 PM in response to Returning to brooklyn - advice sought

Thanks to all who have posted -- and look forward to hearing from others with opinions. Anyone have any thoughts on the broker lead question?

Posted by: newtothis at May 12, 2008 3:45 PM in response to Returning to brooklyn - advice sought

Many, many thanks to all for sharing your insights and advice. To answer your questions: -- we can do about 3500 and maybe stretch to 4 if we're not using a broker. My husband has to be there by 630, but won't be working nights.

Posted by: newtothis at May 16, 2008 8:17 PM in response to Returning to brooklyn - advice sought

Responses to Author's Forum Comments

I don't live in NY anymore but have a home in Clinton Hill. I love my neighborhood but every hood has something to recommend it.

Brooklyn Heights is lovely and your hubby is active can walk the bridge to work or be home in 2-3 stops. It has just about everything a neighborhood can offer but the downsides are parking and price. If your hubby in entry level in a training program then he's on the way up $$ wise. You could struggle and stretch your money and when he's making good bank and you are back to work then BH would be great. It has wonderful schools all train lines intersect there, restaurants, the promenade etc.

Park Slope is also a good hood but parking, price and just about the same as BH. You will have benefit of tons of young families and a very active community.
Downside (for me) Crime. There are an element that find the slope to be a ripe grazing territory for petty crime. Alot of muggings break-ins, theft, push-ins etc. But folks find it worth it.

Clinton-Hill/Fort Greene - Emerging. It has been emerging for decades now but just can't quite get over the hump. The housing stock is excellent and you can pick stuff up cheaper than in PS or BH (but not by much). There is not the obvious wealth that is evident in the heights or parts of the slope but I love it because of its diversity, restaurants, and quiet. There is a good family dynamic and a few schools are notable. The downside is the Atlantic Yards Project which will kill the soul of the neighborhood. That coupled with the fact that the there are small pockets of drugs and crime that the city government could care less about really keep it from being a great neighborhood.

Posted by: bklyngirl at May 12, 2008 8:51 PM in response to Returning to brooklyn - advice sought

http://newyork.craigslist.org/brk/abo/678315386.html

Check out this 3 bedroom for $2300 in Bay Ridge. Looks decent and the price is right.

Posted by: guest at May 12, 2008 9:29 PM in response to Returning to brooklyn - advice sought

I would definitely look at Bay Ridge.

I don't know how early the expresses run, but he can take a bus and probably be at work in 20 minutes tops, especially so early.

There is a terrific group of parents on Yahoo.

http://groups.yahoo.com/group/bay_ridge_parents/

There is quite a bit to do with a little one with tons of great parks.

If you stick around schools will surely be an issue and Bay Ridge has some of the best elementary and middle schools.

Posted by: guest at May 12, 2008 10:12 PM in response to Returning to brooklyn - advice sought

I would Move to Carroll Gardens or Cobble Hill. THey are very safe. The F train is 25 min to Midtown.

Posted by: guest at May 12, 2008 11:06 PM in response to Returning to brooklyn - advice sought

Hey OP -
The advice you're getting is all over the place. A 3 BR in Brooklyn Heights could cost you 5K+. The people on this list have no clue regarding how much people on Wall St. make. If you're talking about an entry level broker postiion on Wall St. of 60K+ commission & bonus, the landlord will only count on the 60K. The same rule applies to an entry level associate banker position (aka Vice President) which usually generates just 70 - 100K plus bonus. Again, the landlord will only factor in the bonus. Typically you must make 40 times the amount of monthly rent per year. That means that if your rent is $4000 per month, you must make 160K.

So what's your price range? 2K might get you something in Crown Heights or Prospect Lefferts Gardens. 3K might get you something in Kensington, Ditmas Park, Windsor Terrace, South Slope, or the extended border of Prospect Heights. $4K might get you something in Park Slope and Prospect Heights proper.

For the commute, I'd certainly agree with all of the posters that suggested anything on the 2/3/4/5/A lines. They offer the fastest commute to Wall Street via train. Forget anything by the R and C trains since the wait alone will add 15 - 30 minutes to your husband's commute each day. The F train is also not that fast, since it's local and you have to switch to the A to get to Wall Street (Fulton, then walk for about 7 minutes).

Alternatively, you could move out to Kensington / Ditmas Park (close to the F or Q trains at Church) and for $5 hubby could take the express bus to work (just 15 minutes to Wall Street!). You just need to be close to the intersection of Ocean Parkway and Church Avenue.

Make sure that you visit the neighborhoods that you are considering at night and during the weekends to make sure that you are comfortable in the area.

re: schools - check out www.insideschools.org for some very useful information

(BTW, my partner is a manager at an investment bank and I am a Brooklyn real estate agent).

Posted by: guest at May 13, 2008 8:46 AM in response to Returning to brooklyn - advice sought

You can actually get a 3bdrm for less than 3K in Kensington and you don't have to only be near the intersection of Ocean and Church to take the express bus, If you live on the east side of Kensington(east of Ocean Parkway) and near to Cortelyou, you can pick up the bus at Stratford and Cortelyou. It takes my husband 30 minutes to get to Park and 23rd in rush hour. If your husband has to be at work by 6:30, even the Q train with a switch at Atlantic for a 2,3,4,5 won't take that long.

Posted by: guest at May 13, 2008 10:23 AM in response to Returning to brooklyn - advice sought

Kensington is great for someone on a budget. But if I had additional funds, Park Slope would be my #1 choice.

Posted by: guest at May 13, 2008 10:38 AM in response to Returning to brooklyn - advice sought

Kensington is great for someone on a budget. But if I had additional funds, Park Slope would be my #1 choice.

Posted by: guest at May 13, 2008 10:38 AM in response to Returning to brooklyn - advice sought

someone already posted a link to a nice looking 3 bedroom duplex for 3300 in brooklyn heights -- so don't listen to "real estate agents" who say you can't get anything for less than 5k. look yourself. Halstead, Corcoran, BHS, Elliman (all .com) are just some of the brokers with online listings.

Posted by: guest at May 13, 2008 10:41 AM in response to Returning to brooklyn - advice sought

You definitely need to give us your rent budget.

Also consider that in many of the brownstone neighborhoods, there just isn't that much stock of true 3BR apts, so they are priced high and take longer to find. You will find more 2 BR + den/office set-ups.

Posted by: guest at May 13, 2008 12:35 PM in response to Returning to brooklyn - advice sought